Universal Music Group (UMG) has announced major changes to its leadership structure as the global music company pursues a cost-cutting programme targeting approximately 270 million dollars in savings.
The restructuring affects several of its major record labels, including Def Jam Recordings, Republic Records and Interscope Geffen A&M.
Among the executives expected to leave is Nigerian-American music executive Tunji Balogun, chief executive of Def Jam Recordings, whose departure is anticipated by the end of 2026.
Other executives reportedly affected include Republic Records chief executive Jim Roppo and Interscope executives Sam Riback and Nicole Wyskoarko.
The cost-cutting programme, announced in 2024, aims to reduce the company’s annual operating expenses by approximately 250 million euros, equivalent to about 270 million dollars. UMG expects to complete the programme in 2027.
The company represents several internationally acclaimed artistes across multiple music genres and remains a major player in the global music industry.
Its investment in Nigerian music company Mavin Records has also strengthened its presence in Africa’s expanding Afrobeats market.
