MARCH 30, 2009
Formula One and Universal Music
The Universal Music Group is the world’s leading music company and discovers, develops, markets and distributes recorded music through a network of subsidiaries, joint ventures and licensees in 77 countries. The company also sells and distributes music video and DVD products, and licenses recordings, encouraging the legal distribution of music online and over cellular, cable and satellite networks. It is also one of the world's leading music publishers and supplies music for films, TV, radio and the advertising industries.
The company just agreed a deal with the Formula One group to develop a cross-promotions called "F1 Rocks". This will mean that there will be more post-race concerts and other promotions which will benefit both parties. There are, for example, many synergies between a Grand Prix and a large concert as many of the facilities can be shared and this creates the possibility of increasing the number of fans for both activities.
Among the artists that Universal represents are the Black Eyed Peas, Bon Jovi, Mariah Carey, Sheryl Crow, Melissa Etheridge, the Pussycat Dolls, Lionel Richie, Gwen Stefani, Shania Twain, Stevie Wonder and Sting. The company also represents singers in Europe, Latin America and the Asia Pacific region, including Bryan Adams, Gianna Nannini (sister for former F1 racer Sandro Nannini), Elton John, Mika, the Rolling Stones, U2, Amy Winehouse and Zucchero.
The company is also the market leader in the classical music market, jazz and Broadway shows. It also controls an extensive catalogue of music from legendary recording artists from Louis Armstrong to The Who, which played after the Grand Prix in Melbourne.
The deal also means that Universal came use the Grands Prix to give some of its stars profile, while supplying F1 with celebrities, which does the F1 image good.
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