Warner Music Group‘s recorded music operation is altering.
The main music firm has confirmed that its world CEO of Recorded Music, Max Lousada, can be leaving WMG.
Lousada will step down from Warner on the finish of the agency’s fiscal yr (September 30), after eight profitable years within the function, and 20 years at WMG. Lousada will stay as an advisor to WMG by January 31, 2025.
Elsewhere in a world shake-up of Warner’s construction, Elliot Grainge, the founding father of 10K Initiatives, is turning into CEO of Atlantic Music Group, house to Atlantic Data and 300 Elektra Leisure. That change will take impact from October 1.
WMG acquired a 51% stake in 10K Initiatives final yr in a $102 million deal. Subsequent to that acquisition, Grainge – son of Common Music Group boss, Sir Lucian Grainge – joined WMG’s world management workforce.
Working alongside Grainge within the new Atlantic Music Group (AMG) setup at WMG can be Julie Greenwald, who’s right this moment named Chairman of AMG underneath the brand new construction.
Greenwald will report back to Warner Music Group CEO, Robert Kyncl, in her new function.
Warner’s US recorded music operation will henceforth be organized into two label teams.
Atlantic Music Group, run by Elliot Grainge as CEO, will home Atlantic Data, 300 Elektra Leisure, plus 10K Initiatives. AMG will proceed to “profit from the artistic experience of A&R legend Craig Kallman“, WMG mentioned in a media launch.
On the West Coast, Warner Data, which has loved a surge of latest success underneath Tom Corson and Aaron Bay-Schuck, will now embrace oversight of Warner Music Nashville, together with Nonesuch and Reprise.
A serious a part of the brand new firm restructure will see a “flatter construction” for Warner’s ex-US recorded music operation all over the world, mentioned WMG.
Beneath this new construction, WMG will neither have the roles of CEO, Recorded Music (Lousada’s present place) nor President, Worldwide, Recorded Music.
WMG’s Recorded Music regional and divisional leaders will now report on to Robert Kyncl. Adjustments embrace:
- Europe, Center East, Africa (EMEA) can be overseen by seasoned exec Simon Robson. The UK & Eire group will now be a part of European operations;
- Latin America (LATAM), together with WM Latina, will proceed to be run by Alejandro Duque, who has made a huge impact on the area since becoming a member of WMG in 2021.
- Asia Pacific (APAC): a frontrunner can be appointed to the newly created place overseeing the whole APAC area.
In the meantime, the heads of WMG’s separate divisions overlaying distribution (through ADA), World Catalog, Advertising, and WMX (together with merchandising and Direct To Fan) will all report on to Robert Kyncl from October 1.
Robert Kyncl mentioned: “On behalf of everybody at WMG, I’d prefer to thank Max for his extraordinary achievements during the last twenty years. Max is a real artists’ champion, who created a tradition that places artistry first, rising our world attain and constructing a roster of unimaginable expertise and an impressive workforce. I’m grateful that he’ll be serving to to make sure a clean transition.”
Added Kyncl: “I’m very pleased to advertise Elliot to his new place, and delighted that Julie can be taking over her new function, each of them working with Craig, as we take this iconic label to even better heights. Elliot has been a stellar addition to WMG’s management workforce, with a particular method to artist growth.
“We now have an incredible bench of artistic leaders, and I’m wanting ahead to working extra carefully with them, as we collaborate on the corporate’s subsequent part of artistic excellence, industrial transformation, and rising revenues. At a time when world tradition strikes on the pace of sunshine, we’re doubling down on nice artists and various music scenes, empowering our expertise and workforce to have most affect.”
Max Lousada mentioned: “Over the previous 20 years, we created one thing particular collectively at Warner: a music firm constructed for artists, the place authentic voices are championed, the place their creativity is honored and guarded, and the place famous person careers are ignited.
“I’m proud to have grown a world-class workforce who share that imaginative and prescient and whose enterprise and power have introduced in new labels, rebuilt iconic manufacturers, expanded our world community, and pioneered new fan experiences. The music enterprise has all the time been about evolution, and the time has come for me to construct one thing new. I’ll be serving to the workforce by this transition, and I’ve little doubt they’ll proceed to develop artists who transfer the world.”
Julie Greenwald mentioned: “My complete profession is about creating child bands into profession artists and empowering our wonderful folks to alter tradition in sudden methods. It’s been twenty years since I walked by the door at Atlantic and commenced the work of rearchitecting this iconic label.
“I couldn’t have executed it with out the deep ardour and dedication of my unimaginable workforce, and our unbelievable artists, who make music that evokes and strikes folks in all places. Lastly, I need to welcome Elliot; I’m wanting ahead to working with him as we proceed to put our artists and their music on the coronary heart of this firm.”
Elliot Grainge mentioned: “It will likely be an enormous honor to affix such a legendary label group, companion with its iconic artists, and construct on the extraordinary achievements of Julie and Craig – they’re main a second golden age at Atlantic Data.
“I’m excited to work with the gifted workforce at Atlantic Music Group to take the artists and the model into recent territory, and proceed to nurture 10K’s artists and its distinctive spirit. Collectively, we’ll pioneer highly effective alternatives for the artistic group and lift up a brand new technology of superstars. Within the meantime, I’d prefer to thank Max for his religion in me and Robert for trusting me with this nice accountability.”
As we speak’s information comes six months after Warner Music Group introduced that it might be slicing its world headcount by 600 workers, round 10% of its worldwide worker base, by the top of September 2024.
Nearly all of these layoffs, mentioned Warner, would relate to the closure or sale of its “Owned & Operated” media properties.
These media platforms included HipHopDX and UPROXX, each of which had been bought to a bunch led by UPROXX founder Jarret Myer in April.Music Enterprise Worldwide
