Universal Music, Disney Music Strike Global Commercial, Creative Pact
The Walt Disney Co.'s Disney Music Group and Vivendi's Universal Music Group said Wednesday they have expanded and deepened an ongoing relationship via a long-term global commercial and creative agreement.
The deal, announced by UMG chairman and CEO Lucian Grainge and Disney Music executive vp Ken Bunt, covers physical and digital rights to Disney albums.
The Disney Music Group includes Hollywood Records, Walt Disney Records and Disney Music Publishing, and Disney Music artists include Demi Lovato, Selena Gomez, ZZ Ward, Queen and Grace Potter & The Nocturnals.
The agreement also covers such Disney soundtracks as Aladdin, Beauty and the Beast, The Lion King, The Little Mermaid, Winnie The Pooh, Cinderella, The Jungle Book, Toy Story, Mary Poppins and The Mickey Mouse Club, as well as the opportunity to work together on music to new releases from Disney, Walt Disney Animation Studios, Pixar Animation Studios, Marvel Studios and Lucasfilm.
The pact also allows for close creative collaboration between the two companies as DMG’s labels and artists will have access to UMG’s roster of producers and songwriters worldwide.
Financial terms weren't disclosed.
"We are delighted to take our successful and long-standing relationship with Disney to the next level,” said Grainge. "Providing access to our creative resources on a global scale, this new agreement takes our relationship with Disney beyond simply the commercial and fosters collaboration on a musical level."
Said Bunt: “Universal Music Group has been a valuable and trusted collaborator of the Disney Music Group for over 18 years. And we are excited to expand our association to bring greater collaboration and strategic planning to our collective businesses.”