Former global record label / From Wikipedia, the free encyclopedia
Dear Wikiwand AI, let's keep it short by simply answering these key questions:
Can you list the top facts and stats about PolyGram?
Summarize this article for a 10 years old
PolyGram N.V. was a multinational entertainment company and major music record label formerly based in the Netherlands. It was founded in 1962 as the Grammophon-Philips Group by Dutch corporation Philips and German corporation Siemens, to be a holding for their record companies, and was renamed "PolyGram" in 1972. The name was chosen to reflect the Siemens interest Polydor Records and the Philips interest Phonogram Records. The company traced its origins through Deutsche Grammophon back to the inventor of the flat disc gramophone, Emil Berliner.
|Founded||1962; 61 years ago (1962) (original; as Grammophon-Philips Group), a joint venture of Philips and Siemens|
2017; 6 years ago (2017) (Relaunch as PolyGram Entertainment)
|Founder||Polydor and Deutsche Grammophon|
|Defunct||1999; 24 years ago (1999) (original)|
|Fate||Sold to Seagram and folded into Universal Music Group until 2017. Label still used by UMG's PolyGram Entertainment and for some of its label divisions in certain regions.|
The 1996–1999 PolyGram Filmed Entertainment catalog is currently owned by Universal Pictures (part of Comcast).
The pre-1996 PolyGram Filmed Entertainment catalog is currently owned by Metro-Goldwyn-Mayer (part of Amazon).
Later on, PolyGram expanded into the largest global entertainment company, creating film and television divisions. In May 1998, it was sold to the alcoholic distiller Seagram which owned film, television and music company Universal Studios. PolyGram was thereby folded into Universal Music Group, and PolyGram Filmed Entertainment was folded into Universal Pictures, which had been both Seagram successors of MCA Inc. When the newly formed entertainment division of Seagram faced financial difficulties, it was sold to Vivendi, and MCA became known as Universal Studios, as Seagram ceased to exist. Vivendi remains the majority owner of the Universal Music Group (while the film and television division was sold to NBCUniversal) until 2021. In February 2017, UMG revived the company under the name of PolyGram Entertainment, which currently serves as their film and television division.