UNIVERSAL MUSIC GROUP LAUNCHES VIRGIN MUSIC GROUP

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NEW GLOBAL DIVISION UNITES UMG’S LEADING LABEL & ARTIST SERVICES BUSINESSES, INCLUDING VIRGIN AND INGROOVES, UNDER UNIFIED LEADERSHIP AND STRATEGY 

JT MYERS AND NAT PASTOR, INNOVATIVE ENTREPRENEURS AND FOUNDERS OF MTHEORY, NAMED CO-CEOS OF NEW GLOBAL DIVISION

JT Myers, left, and Nat Pastor


SANTA MONICA, 13 SEPTEMBER 2022
 – Common Music Group (UMG), the world chief in music-based leisure, at the moment introduced the launch of the Virgin Music Group, a brand new international division that can unify UMG’s industry-leading artist companies companies beneath the management of music entrepreneurs and mtheory founders JT Myers and Nat Pastor as Co-CEOs, efficient instantly.

Of their new function, Myers and Pastor will lead the growth of UMG’s impartial music capabilities throughout all of its enterprise models and areas, reporting to UMG Chairman and CEO Sir Lucian Grainge.  The brand new division will embody:

Virgin Music Label & Artist Providers.   Launched in 2021, Virgin Music Label & Artist Providers is a community of regional hubs strategically positioned on this planet’s main music markets to ship premium artist and label companies to the {industry}’s most dynamic entrepreneurs and impartial expertise.  Virgin Music Label & Artist Providers has operations within the U.S., Japan, U.Okay., Germany and throughout Central Europe, France, Côte d’Ivoire (servicing African markets and expertise), Australia & New Zealand, Sweden, Norway, Netherlands, Belgium, Western Balkans & Serbia and throughout Latin America & Iberia, together with workplaces within the U.S., Brazil, Mexico, Spain and Portugal.

Ingrooves Music Group.  Acquired by UMG in 2019, Ingrooves is a pacesetter in music distribution, advertising and marketing and know-how that empowers labels and entrepreneurs to develop their companies and thrive within the international music {industry}.  Ingrooves’ complete suite of choices contains advertising and marketing technique, insights and analytics, rights administration, promoting, royalty accounting, video monetization and music licensing, all accessible by way of an intuitive shopper platform. Headquartered in Los Angeles, Ingrooves operates globally and has workplaces 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.  mtheory’s Supervisor Providers enterprise will not be a part of the transaction and can stay wholly impartial. The label creates aligned, equitable partnerships with artists, and employs an modern international advertising and marketing method to ship outsized outcomes, together with greater than 80 Gold and Platinum certifications in 23 international locations worldwide.  mtheory Artist Partnerships was the workforce behind Main Lazer’s Award-winning single “Lean On,” the quantity No. 1 most streamed observe of all time, which was additionally the primary absolutely impartial observe to be licensed Diamond by the RIAA, and the primary absolutely impartial observe to succeed in No. 1 on the U.S. Prime 40 radio chart.

Efficient instantly, all Virgin Music Label and Artist Providers regional hubs will grow to be a part of the Virgin Music Group, working beneath a unified technique whereas nonetheless leveraging the native A&R experience and inventive networks of their respective international locations.  This contains Virgin Music Label & Artist Providers within the U.S., which is able to evolve from a division of Capitol Music Group to a standalone firm serving all UMG’s U.S. labels and companions.

In making the announcement, Grainge mentioned, “With a view to stay one of the best residence for artists and entrepreneurs we should drive innovation in our personal companies—providing new and high-quality assets for artists from all corners of the world whereas persevering with to steer the {industry}’s transformation.  Nat and JT’s observe file for creating forward-thinking partnerships with artists which can be constructed on a basis of belief, creativity and enterprise acumen is precisely the form of management we wish for the brand new Virgin Music Group division.  Along with our frontline labels and international footprint, Virgin Music Group presents artists unmatched artistic and business assist.”

Boyd Muir, UMG’s EVP, CFO and President of Operations, mentioned, “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 current world-class infrastructure.  Having labored with mtheory, I do know that the imaginative and prescient for the expansion of the {industry} that Nat and JT convey will likely be an ideal match for UMG and our artists, at the moment and sooner or later.”

Myers mentioned, “mtheory was based on the concept we may rework the music {industry} by providing higher, extra aligned partnerships with artists.  By bringing these unbelievable international groups and assets collectively, we now have the chance to turbo-charge that imaginative and prescient, and ship much more worth to artists, labels and music entrepreneurs.”

Pastor mentioned, “We’re so grateful to Sir Lucian and Boyd for entrusting us with the long-lasting Virgin Music model, probably the most profitable impartial labels within the {industry}’s historical past, in addition to Ingrooves, arguably probably the most refined music know-how platform on this planet.  JT and I’ve labored collectively for over 20 years, and we’re thrilled to proceed our journey to rework the music {industry} collectively, together with the Ingrooves, mtheory and Virgin groups.”

Constructing on their expertise advising mtheory shoppers, music {industry} entrepreneurs, and huge enterprises on strategic initiatives and music transactions, Myers and Pastor can even assist UMG’s company enterprise growth actions.

mtheory’s Supervisor Providers enterprise will stay absolutely impartial, beneath the management of newly appointed CEO Cameo Carlson. As well as, and as a part of the transaction, mtheory will spin out its MPRS International producer royalty administration platform, of which mtheory Co-Founder Jon McMillan will grow to be CEO.

Previous to co-founding mtheory in 2010, each Pastor and Myers held senior technique and company growth roles at Warner Music Group.

 

About Common Music Group
At Common Music Group, we exist to form tradition by way of the facility of artistry. UMG is the world chief in music-based leisure, with a broad array of companies engaged in recorded music, music publishing, merchandising and audiovisual content material. That includes probably the most complete catalogue of recordings and songs throughout each musical style, UMG identifies and develops artists and produces and distributes probably the most critically acclaimed and commercially profitable music on this planet. Dedicated to artistry, innovation and entrepreneurship, UMG fosters the event of companies, platforms, and enterprise fashions as a way to broaden inventive and business alternatives for our artists and create new experiences for followers. For extra info, go to www.universalmusic.com.

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