Common Music Group has consolidated its artist providers operations into a brand new international Virgin Music Group division, the corporate introduced Tuesday (Sept. 13).
Virgin Music Group will likely be led by music entrepreneurs and mtheory founders JT Myers and Nat Pastor, who will function co-CEOs. Of their new roles, Myers and Pastor will spearhead the enlargement of UMG’s unbiased music capabilities throughout all of its enterprise items and areas whereas reporting to UMG chairman and CEO Sir Lucian Grainge.
The brand new division encompasses Virgin Music Label & Artist Providers and Ingrooves Music Group, in addition to mtheory’s bespoke label division, mtheory Artist Partnerships, which UMG has acquired. All Virgin Music Label & Artist Providers regional hubs will instantly change into a part of Virgin Music Group and function beneath a unified technique whereas persevering with to leverage native A&R experience and artistic networks of their respective international locations. This consists of Virgin Music Label & Artist Providers within the U.S., which can cut up from Capitol Music Group to change into a standalone firm serving all of UMG’s U.S. labels and companions.
As for market share, a supply near the scenario says that each one market share calculations will stay the identical, that means Virgin will proceed to contribute to Capitol Music Group’s market share — however that would change down the road.
UMG is the final of the key labels to consolidate its unbiased distribution operations after Warner Music, which mixed its Unbiased Label Group and Different Distribution Alliance (ADA) beneath one roof in 2012, and Sony Music, which merged The Orchard and RED right into a single international entity beneath the Orchard model in 2017.
Beneath the phrases of the deal, mtheory’s supervisor providers enterprise will stay absolutely unbiased and be led by newly appointed CEO Cameo Carlson. Mtheory will even spin out its MPRS International producer royalty administration platform, which will likely be headed up by its new CEO (and mtheory co-founder) Jon McMillan.
“With a purpose to stay one of the best residence for artists and entrepreneurs we should drive innovation in our personal companies — providing new and high-quality sources for artists from all corners of the world whereas persevering with to steer the business’s transformation,” mentioned Grainge in an announcement. “Nat and JT’s observe file for creating forward-thinking partnerships with artists which might be constructed on a basis of belief, creativity and enterprise acumen is precisely the sort of management we wish for the brand new Virgin Music Group division. Along with our frontline labels and international footprint, Virgin Music Group provides artists unmatched inventive and business help.”
Boyd Muir, UMG’s government vp, CFO and president of operations, added, “Increasing the group of artists, labels and entrepreneurs with whom we work presents a major alternative for us, strategically complementing our labels and leveraging UMG’s present world-class infrastructure. Having labored with mtheory, I do know that the imaginative and prescient for the expansion of the business that Nat and JT convey will likely be a terrific match for UMG and our artists, as we speak and sooner or later.”
Along with operating Virgin Music Group, Myers and Pastor will help UMG’s company enterprise growth actions, leveraging their “expertise advising mtheory purchasers, music business entrepreneurs, and enormous enterprises on strategic initiatives and music transactions,” based on a press launch.
Mentioned Myers, “mtheory was based on the concept we might rework the music business by providing higher, extra aligned partnerships with artists. By bringing these unimaginable international groups and sources collectively, we have now the chance to turbo-charge that imaginative and prescient, and ship much more worth to artists, labels and music entrepreneurs.”
Pastor added, “We’re so grateful to Sir Lucian and Boyd for entrusting us with the long-lasting Virgin Music model, some of the profitable unbiased labels within the business’s historical past, in addition to InGrooves, arguably probably the most subtle music know-how platform on the planet.”
Virgin Music began as Virgin Information, the label based by Richard Branson within the U.Ok. in 1972. Over its historical past, the corporate distributed labels together with Frontline, Stiff, Charisma and Circa and in addition created Caroline and Astralwerks, which grew to become thriving divisions inside UMG after the music large acquired Virgin’s mum or dad firm EMI in 2012.
You could find a quick overview of the divisions that make up Virgin Music Group under.
Virgin Music Label & Artist Providers: Launched in Feb. 2021 as a community of regional hubs on the planet’s main music markets. Virgin handles international distribution for indie labels together with 10K Initiatives (Surfaces, Trippie Redd, Web Cash, iann dior), Work Present (Brazil), Mushroom Group (Australia & U.Ok.), Mavin Information (Nigeria), Photograph End Information (SHAED, McKenna Grace), Main Wave Music (together with Solar Information, Inexperienced Hill and Gaither music) and Vary Media Companions (U.S.). It has helped obtain international success for artists together with Lauv, Lil Child, NCT 127 and St. Vincent. It additionally companions with home labels to signify artists — together with DAVE (U.Ok.), Tame Impala (Australia) & NF (U.S.) — on a world foundation.
Ingrooves Music Group: Acquired by UMG in 2019 and headquartered in Los Angeles, Ingrooves provides advertising and marketing technique, insights and analytics, rights administration, promoting, revolutionary and patented know-how, royalty accounting, video monetization and music licensing. Ingrooves has acquired native distributors Electromode in South Africa and Alda Music in Iceland and partnered with frontline labels to kind distribution relationships with artists together with BTS/HYBE (Interscope/Geffen Information) and Daddy Yankee (Republic Information). It has places of work all through North America, Latin America, Europe, Africa, Asia and Australia.
Mtheory Artist Partnerships: UMG has acquired mtheory’s bespoke label division, mtheory Artist Partnerships, although mtheory’s artist providers enterprise was not a part of the transaction and can stay unbiased. The label division boasts “aligned, equitable partnerships” with artists together with Main Lazer, Tove Lo, Tom Odell, Empress Of, RL Grime, bbno$ and Porter Robinson and claims greater than 80 gold and platinum certifications in 23 international locations.