NEW YORK, April 26, 2011 /PRNewswire/ -- Universal Music Group (UMG), the world's leading music company, and Billabong, the world's leading outdoor sports lifestyle company, have formed a strategic, global brand partnership that will bring together music and action sports through a broad range of innovative products and new services. The announcement was made today by Lucian Grainge, Chairman and CEO of UMG, and Derek O'Neill, CEO of Billabong.

Under this new agreement, UMG and Billabong will collaborate on the development of a broad range of services and products that will unite the world's most popular recording artists with the world's most celebrated successful talents in action sports.

Among these initiatives will be co-produced premium audio/visual content, live events, music compilations, sports and music merchandise, digital download offers, preloaded audio/visual hardware, streaming radio and TV, and a dedicated music service.

The partnership signals a diversification for both companies – leaders in their respective fields – to tap into changing youth culture appetites for entertainment and action sports.

"UMG and Billabong represent a unique partnership between two progressive companies that share a passion for creating compelling products and engaging experiences for consumers," said Mr. Grainge. "This is just one of many new global initiatives that we will be launching to help redefine and enhance the musical experience for consumers."

Derek O'Neill said: "Music is an integral part of our lifestyle and culture, and this partnership will no doubt enhance our brand's position by supporting compelling marketing initiatives revolved around film projects, events and our global athlete program."

About Universal Music Group

Universal Music Group (UMG) is the world's leading music company with wholly owned record operations or licensees in 77 territories. Its businesses also include Universal Music Publishing Group, the industry's leading global music publishing operation.

Universal Music Group's record labels include A&M/Octone, Decca, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Polydor Records, Show Dog – Universal Music, Universal Motown Republic Group, Universal Music Latino and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalogue of music in the industry, which includes the last 100 years of the world's most popular artists and their recordings. UMG's catalogue is marketed through two distinct divisions, Universal Music Enterprises (in the U.S.) and Universal Strategic Marketing (outside the U.S.). Universal Music Group also includes eLabs, its new media and technologies division; Bravado, its merchandising company; and Twenty-First Artists, its full service management division.

Universal Music Group is a unit of Vivendi, a global media and communications company.

About Billabong

Billabong is a leading designer and producer of active lifestyle clothing, accessories and related products that are distributed to a worldwide customer base of board riders and associated audiences. Billabong is publicly listed on the Australian Securities Exchange (ASX: BBG) and has annual revenues in excess of $1.5 billion. It sells product in more than 100 countries through a network of some 11,000 specialty retail stores, of which it owns more than 600. Billabong is also the owner of the world's most compelling portfolio of boardsport-inspired youth brands, including Billabong, Element, Nixon, DaKine, Von Zipper, RVCA, Tigerlily, Kustom, Xcel, Sector 9, Honolua and Palmers Surf. Billabong is a major supporter of world-class athletes and events that celebrate and promote the boardsport culture.

SOURCE Universal Music Group