In an exclusive interview in the new edition of Music Week, Universal Music Group chairman and CEO Sir Lucian Grainge has said streaming services 'need our help to grow and build and develop'.
Speaking to Music Week while in London after receiving his knighthood from Prince William, the Duke Of Cambridge, Sir Lucian said: “There’s opportunity everywhere. I’m not one of those who looks at change and sees it as a risk. We have to help them grow their business for all the stakeholders. We want as many options for consumers as possible.
“I believe in scale and and much competition as there can be,” he continued. “And you’ll see that in how we’re trying to support the market and lead where we’re able.”
Universal has recently stepped back from striking exclusive streaming deals for its artists.
In August it was reported that Frank Ocean's release of visual album Endless via Universal and subsequent Apple Music exclusive for Blonde, released on his own label, sparked the major's alleged decision.
Read the full interview with Sir Lucian, in which he discusses Universal UK’s success and the music business’s recovery in the new issue of Music Week, out now. Subscribe here.