Warner Music Group‘s recorded music operation is altering.
The foremost music firm has confirmed that its international CEO of Recorded Music, Max Lousada, will probably 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 worldwide shake-up of Warner’s construction, Elliot Grainge, the founding father of 10K Tasks, is changing into CEO of Atlantic Music Group, residence to Atlantic Information and 300 Elektra Leisure. That change will take impact from October 1.
WMG acquired a 51% stake in 10K Tasks final yr in a $102 million deal. Subsequent to that acquisition, Grainge – son of Common Music Group boss, Sir Lucian Grainge – joined WMG’s international management group.
Working alongside Grainge within the new Atlantic Music Group (AMG) setup at WMG will probably be Julie Greenwald, who’s immediately 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 Information, 300 Elektra Leisure, plus 10K Tasks. 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 Information, which has loved a surge of current success underneath Tom Corson and Aaron Bay-Schuck, will now embody oversight of Warner Music Nashville, together with Nonesuch and Reprise.
A significant a part of the brand new firm restructure will see a “flatter construction” for Warner’s ex-US recorded music operation around the globe, mentioned WMG.
Underneath 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. Modifications embody:
- Europe, Center East, Africa (EMEA) will probably 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 big effect on the area since becoming a member of WMG in 2021.
- Asia Pacific (APAC): a frontrunner will probably be appointed to the newly created place overseeing the whole APAC area.
In the meantime, the heads of WMG’s separate divisions protecting distribution (through ADA), World Catalog, Advertising and marketing, 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 wish to thank Max for his extraordinary achievements over the past twenty years. Max is a real artists’ champion, who created a tradition that places artistry first, rising our international attain and constructing a roster of unimaginable expertise and an excellent group. I’m grateful that he’ll be serving to to make sure a easy transition.”
Added Kyncl: “I’m very joyful to advertise Elliot to his new place, and delighted that Julie will probably be taking up her new function, each of them working with Craig, as we take this iconic label to even higher heights. Elliot has been a stellar addition to WMG’s management group, with a particular method to artist growth.
“Now we 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 section of artistic excellence, industrial transformation, and rising revenues. At a time when international tradition strikes on the velocity of sunshine, we’re doubling down on nice artists and numerous music scenes, empowering our expertise and group to have most impression.”
Max Lousada mentioned: “Over the previous twenty years, we created one thing particular collectively at Warner: a music firm constructed for artists, the place unique 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 group who share that imaginative and prescient and whose enterprise and vitality have introduced in new labels, rebuilt iconic manufacturers, expanded our international community, and pioneered new fan experiences. The music enterprise has at all times been about evolution, and the time has come for me to construct one thing new. I’ll be serving to the group by this transition, and I’ve little question they’ll proceed to develop artists who transfer the world.”
Julie Greenwald mentioned: “My entire profession is about creating child bands into profession artists and empowering our superb 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 finished it with out the deep ardour and dedication of my unimaginable group, 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 hitch such a legendary label group, accomplice with its iconic artists, and construct on the extraordinary achievements of Julie and Craig – they’re main a second golden age at Atlantic Information.
“I’m excited to work with the proficient group 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 neighborhood and lift up a brand new technology of superstars. Within the meantime, I’d wish to thank Max for his religion in me and Robert for trusting me with this nice duty.”
In the present day’s information comes six months after Warner Music Group introduced that it could be slicing its international headcount by 600 workers, round 10% of its worldwide worker base, by the tip 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
