With the "right incentive structures," platforms can eliminate "unauthorized, unwanted, and infringing content entirely," says the CEO.
The agreement takes the executive from an all-cash compensation package to one that combines cash and equity, including a one-time transition equity award worth $100 million.
The partnership, which follows a similar collaboration with TIDAL, was announced by UMG CEO Lucian Grainge on an earnings call.
The UMG chairman addressed Billboard Power 100 honorees in LA about shaking up the industry from within to benefit creatives.
In his annual New Year's letter to Universal employees, Grainge highlighted the company's successes but also called for change in an era of "bad actors."
Growth in streaming subscriptions, merchandising, touring offset slowdown in ad-supported revenues.
