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DGMC, a UAE-based creative facility, and the Universal Music Group (UMG), a Euronext Amsterdam-listed entertainment firm, have inked a deal for setting up a Music City in the UAE.
The scope of the partnership will include building recording studios, the development of educational academies, and the creation of a new full-service label designed to support local and regional artists across every aspect of their career, including recording, touring, branding, and merchandising.
The deal will further include the development of three new Capitol Studios in the UAE, the first-ever recording studios by the company to be built outside Hollywood, which will feature a Dolby Atmos mixing room, recording studios, a “green room”, a writer’s room and a rehearsal studio.
The partnership will also include the launch of a record label, a joint venture between UMG and DGMC to sign and develop local artists.
It is unclear at this time in which emirate the development will take place.
Last year, UMG also cemented its business in the UAE with the acquisition of the local music company Chabaka, which then became part of the Virgin Music Group.
According to the 2023 ‘Global Music Report’ by the International Federation of the Phonographic Industry (IFPI), the Middle East and North Africa saw revenues from recorded music climb by 23.8%. Streaming accounted for the vast majority of the market, with those revenues accounting for a 95.5% share.
(Writing by Bindu Rai, editing by Daniel Luiz)
