Warner Music Group is launching a standalone label called Elektra Music Group on 1 October 2018. According to a release by Warner Music Group, it will be based in New York with a staff of 60 people and will be run by current Elektra president Gregg Nadel and FBR/Roadrunner president Mike Easterlin.
EMG will consist of Elektra Records, Fueled By Ramen (FBR), Roadrunner Records, Low Country Sound, and Black Cement Records.
The roster will include Twenty One Pilots, Zac Brown Band, Brandi Carlile, Fitz & The Tantrums, Sturgill Simpson, Paramore, Slipknot, Panic! At The Disco, Coheed & Cambria, Kaleo and Gojira.
Although EMG will operate autonomously, Easterlin and Nadel will continue to report to Atlantic Records Group chairman & CEO, Craig Kallman, and Chairman & COO, Julie Greenwald.
“The birth of Elektra Music Group is all about creating opportunity for artists,” said Greenwald and Kallman. “It opens up a new door to bring more game-changing talent into the WMG family, while giving them the personal attention that is our hallmark. Just as importantly, it will allow some of the most outstanding members of our team to run their own shop and their own departments, taking their careers to new places. Mike and Gregg have evolved into amazing leaders and masters of long-term artist development – they understand it, they live it, and they excel at it. With decades of A&R and marketing experience under their collective belts, and joined by an outstanding new staff, they will make great partners in building Elektra Music Group into a major industry force.”
With its own departments including A&R, artist development, business and legal affairs, international, marketing, promotion, publicity, sales and streaming, and video, Elektra Music Group could help the third-biggest major record company sign more acts and increase its output. The move might also put WMG at an advantageous position since the steady growth of all-you-can-eat subscription streaming services makes volume more important for labels than ever.
Warner Music Group CEO Recorded Music Max Lousada said, “Our whole approach is to create environments that give artists and entrepreneurs the freedom and support to pioneer the future of music. From the outset, Elektra Music Group will be a dynamic community of credible artists and distinctive label cultures. Gregg and Mike are a dream leadership team, able to combine adventurous A&R, bespoke artist development, and full-force global marketing. It feels great to be bringing back the iconic Elektra brand as a major, stand-alone company for the first time in 15 years.”
Easterlin has been president of FBR and Roadrunner Records since January of 2016 while Nadel has been president of Elektra Records since January 2017, joining the Atlantic empire 21 years ago, straight after college.
- Entertainment News2018.12.07Latin Music rules the year with 8 entries in the top 10 of YouTube Rewind 2018
- 5 December 20182018.12.05Tencent Music launches $1.2bn US IPO, third largest by a Chinese company this year
- 4 December 20182018.12.04Apple Music releases top charts for 2018, Drake hailed as artist of the year
- Business News2018.12.03Indian music industry to grow by 15.5% by 2023, says KPMG report