Universal Music's New Venture

   Universal Studios music company, Universal Music Group has announced plans to start a new global distribution company dubbed, Global Creative Investment Program.  The multi-million-dollar effort is intended to form ventures with promising tech savvy entrepreneurs in the music business.  Universal's 30% of global music sales makes it the world's largest record company.  With the Global Creative Investment Program it is looking to tap into hot young talent to remain relevant and connect to a new generation of consumers.  "There's a new social contract emerging between music companies, artists, and entrepreneurs.  The challenge comes in creating a structure that is open to opportunity in the midst of a discombobulation of everything we've ever known", says Lucian Grainge, Chairman of Universal Music Group.  See full story, http://www.latimes.com/.