Universal Music Group and Authentic Brands Group have announced a strategic initiative to acquire and actively manage artist brands, including names and likenesses. UMG Chairman/CEO Lucian Grainge said, “UMG and ABG have strong track records as powerful stewards of artist and celebrity brands. Through this initiative, we will invest in name and likeness rights to create unique opportunities for artists with the goal of greatly expanding their cultural and commercial impact.”
Source: Universal Music and Authentic Brands Strike Deal to Acquire and Manage Names and Likenesses