Home Music Industry News Universal Music Group and iHeartMedia Enter Agreement and Virtual Reality

Universal Music Group and iHeartMedia Enter Agreement and Virtual Reality

UMG-iHeart-Media1Universal Music Group (UMG),and iHeartMedia announced a partnership focused around virtual reality (VR) that will enable the companies to connect artists, music fans and brands and sponsors in a series of revolutionary, fully immersive entertainment experiences.

The announcement was made at CES 2016 by Lucian Grainge, Chairman and CEO of UMG, and Bob Pittman, Chairman and CEO of iHeartMedia.

Together, the companies will leverage their respective strengths – including UMG’s deep music expertise, world-renowned roster of superstars and new artists and industry-leading music library, and iHeartMedia’s 245 million monthly broadcast listeners, nearly 90 million digital uniques, 80 million social followers, roster of nationally-recognized marquee events, and the consumer relationships its personalities have with listeners — to drive innovation in both music and VR. The companies will create entertainment experiences that leverage cutting-edge technology, making immersive VR performances and experiences accessible to U.S. audiences for the first time at scale.

In addition, UMG and iHeartMedia will invite brands to partner with them to develop, produce and distribute these one-of-a-kind entertainment experiences, using integrated approaches to connect their brands and products to both artists and consumers.

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