you might have heard Atlantic Music Group laid off workers collectively right this moment (September 19), a lot of whom had been key members of the corporate from the earlier interval. Julie Greenwald.
The information was lately confirmed by Greenwald ——With colleagues Max Lusada and Kevin Lyles – sure leave Warner Music Group later this month.
Depart right this moment for an appointment 150 Atlantic workers Understandably, this may appeal to trade consideration and dialogue within the coming days. (MBW clearly needs these affected effectively. Nonetheless, it would not be stunning to see some thriving new indie music corporations now rising from former Atlantic/WMG executives…together with Greenwald, Lusada and Lyles.
Nevertheless, if we zoom out for a second, we see the broader trade story: A brand new take a look at the Atlantic Oceanis about to take off with a brand new technique and a brand new id.
MBW confirmed via sources The Atlantic has dropped a couple of dozen artists from its roster, in what In maybe the clearest sign but, the labels Incoming CEO Elliott Grange will not be the identical Similar as earlier than.
“When Elliot takes over as CEO of The Atlantic on October 1, it will likely be a clean web page — a brand new day for a way The Atlantic operates and what The Atlantic accommodates. … sure”.
What’s the shadow of this? Aaron Beschuk Serves as CEO/Co-Chairman of one other main WMG model, Warner Records2018. Greater than 50% A roster signed by its former administration. He additionally Signed 30 new billsa few of which – six years on – have pushed bumper 2024 For WR.
A supply from The Atlantic advised MBW In the present day: “It is clear what is going on on right here, whether or not it is layoffs or roster cuts.
“When Elliot takes over as CEO of The Atlantic on October 1, it will likely be a clean web page — a brand new day for a way The Atlantic operates and what The Atlantic accommodates. … sure.“
Current MBW wonder out loud Will Grainge’s appointment as Atlantic’s new CEO convey important adjustments to the model’s A&R focus?
MBW founder Tim Ingham suggestion: “Can we take a look at the technique of an expert firm like this? atlantic music group Now additional breakthrough to increased frequencies fleeting meteor – It’s additional away from “going all out” to be born lasting tradition GloriousStar?
As Ingham factors out, this consequence could also be a “statistical inevitability.”
2022 WMG Confirmed 5 of its largest famous person performances contributed 5% revenue from its recorded music. Ten years in the past, this quantity was 15%.
Assuming that Grange Atlantic does begin to lean extra in that path – that’s, signing extra artists, however much less obsessive about turning into a famous person.
Do the current adjustments by report labels point out they’re attempting to match their sources to the plan?
Warner Music Group CEO Robert Kinkel Atlantic’s new spherical of layoffs was confirmed right this moment (September 19) in an inner report.
In notes obtained by MBW, Kyncl mentioned WMG will “launch a brand new dynamic construction” for Atlantic Music Group subsequent week, including Elliot Grange “Information concerning the management staff will likely be introduced” earlier than his official first day on October 1.
Kyncl additionally confirmed that “as a part of the restructuring, we’ll sadly say goodbye to expertise.”
Elsewhere within the be aware, the Warner CEO thanked workers affected by the layoffs, noting that they’ve “left an indelible mark on this firm and on the careers of the unbelievable artists you assist.”
Kyncl added: “Phrases can not categorical the whole lot on this scenario, however we’re endlessly grateful for all of your contributions and achievements over time. We want you all the very best and know you’ll proceed to do nice issues within the chapters forward.” matter.
You’ll be able to learn Kyncl’s full notes beneath.
Hi there everybody,
Since we introduced that Julie could be stepping down, we’ve got been fastidiously analyzing tips on how to develop the way forward for Atlantic Music Group. Subsequent week, we’ll unveil a brand new dynamic construction for the label. Elliot will take over as CEO of AMG on October 1.
As a part of the reorganization, we’ll sadly say goodbye to proficient individuals. I do know you’ve got been ready to listen to about this plan, and we determined to make these laborious selections one step at a time reasonably than making adjustments piecemeal.
It’ll be a tough day, and by 9pm ET you may know in case your job is affected. Your management and personnel staff will offer you all of the vital particulars. We’re dedicated to serving to these affected by this with the utmost respect and supporting them throughout their transition.
I wish to thank everybody on the Atlantic coast for his or her laborious work, enthusiasm and creativity, 300 and Elektra. I might particularly prefer to thank those that are leaving us. You left an indelible mark on this firm and the careers of the unbelievable artists you supported. Phrases can not categorical beneath the circumstances, however we’re endlessly grateful for all of your contributions and achievements over time. We want you all the very best and know you’ll proceed to do nice issues within the chapters forward.
This yr, WMG is quickly reworking in a fast-paced, aggressive trade. As all the time, delivering nice outcomes for artists and songwriters is our prime precedence in all our picks.
As I discussed, you may be listening to extra about AMG’s plans subsequent week, with Elliott making bulletins concerning the management staff. On the similar time, we’ve got a lot unbelievable music available on the market and a few nice tasks occurring. Your continued assist of your teammates is wonderful and your dedication to your music is extraordinary.
Thanks and take care,
Robertinternational music enterprise
