David Ring, Universal Music Group's Executive Vice President of Global Digital Business is leaving the company after 19 years. His departure comes just days after UMG's Global Digital President and Ring's boss Rob Wells suddenly announced his departure.
In a letter to colleagues, Ring wrote, "It has been my sincere privilege to have had the chance to help UMG and its talented labels and artists navigate the massive changes required to transition from the CD business to the exhilarating digital business of today and tomorrow.”
Apple, Spotify and YouTube are all in talks with Universal and other labels hoping to lower prices. At the same time UMG CEO Lucian Grainge has been publicly pushing for a shift towards paid over free music offerings.
Are these key departures as sign that talks are not going well. Or could the pair be joining former UMG colleague Jimmy Iovine at Apple?