Capitol Music Group (CMG) is an American front line umbrella label distributed by Universal Music Group which oversees handling of record labels assigned to UMG's Capitol Records division. It was inherited from UMG's acquisition of EMI's catalog. It is one of seven umbrella labels distributed by UMG, the other six being Interscope Geffen A&M, Island Records, Def Jam Recordings, Republic Records, Verve Records, and Decca Records. The current chair and CEO is Michelle Jubelirer.

Universal Music Group N.V. is a Dutch–American multinational music corporation under Dutch law. UMG's corporate headquarters are located in Hilversum, Netherlands and its operational headquarters are located in Santa Monica, California. The biggest music company in the world, it is one of the "Big Three" record labels, along with Sony Music and Warner Music Group. Tencent acquired ten percent of Universal Music Group in March 2020 for €3 billion and acquired an additional ten percent stake in January 2021. Pershing Square Holdings later acquired ten percent of UMG prior to its IPO on the Euronext Amsterdam stock exchange. The company went public on September 21, 2021, at a valuation of €46 billion.