ATLANTIC MUSIC GROUP BEGINS NEW ERA

Rhea-AI Summary

Atlantic Music Group (AMG), part of Warner Music Group (Nasdaq: WMG), has unveiled a new leadership team and structure to maximize cultural impact and strengthen creative expertise. Elliot Grainge will become CEO of AMG on October 1, succeeding Julie Greenwald. The restructuring empowers dedicated A&R and Marketing teams at Atlantic Records, 300 Entertainment, and 10K Projects.

Key appointments include:

• Lanre Gaba as President of Hip-Hop, R&B, and Global Music at Atlantic Records
• Rayna Bass & Selim Bouab as Co-Presidents of 300 Entertainment
• Nicholas Ziangas and Molly McLachlan as Co-Presidents of 10K Projects
• Craig Kallman elevated to Chief Music Officer for AMG
• Dave Rocco appointed as President of Creative for AMG

The new structure aims to combine strengths across labels while maintaining their independent DNA and focusing on maximum impact for artists.

Positive

• Restructuring to maximize cultural impact and strengthen creative expertise
• Empowerment of dedicated A&R and Marketing teams at Atlantic Records, 300 Entertainment, and 10K Projects
• Appointment of experienced executives to key leadership positions
• Creation of centralized artist development services across labels
• Focus on maintaining independent DNA of labels while fostering collaboration

Negative

• None.

Insights

Financial Analyst

This leadership restructuring at Atlantic Music Group (AMG) is a significant development for Warner Music Group (WMG). While it doesn't directly impact immediate financials, it sets the stage for potential long-term growth and market positioning. The focus on "cultural impact and creative expertise" aligns with industry trends towards artist-centric strategies.

Key points to consider:

• Empowerment of dedicated A&R and Marketing teams across labels could lead to more efficient artist development and revenue generation.
• The promotion of experienced executives like Lanre Gaba and Craig Kallman suggests a balance between fresh perspectives and industry knowledge.
• The centralization of artist development services may result in cost synergies and improved operational efficiency.

Investors should monitor how these changes translate into artist signings, music releases and ultimately, revenue growth in the coming quarters. The success of this restructuring could impact WMG's competitive position in the evolving music industry landscape.

Music Industry Expert

This restructuring represents a strategic shift in AMG's approach to artist development and label management. The emphasis on maintaining the "independent DNA" of labels like 300 Entertainment and 10K Projects, while integrating them into a larger group structure, is noteworthy.

Key observations:

• The promotion of executives with track records of developing successful artists (e.g., Cardi B, Jack Harlow) suggests a focus on maintaining creative momentum.
• The appointment of Dave Rocco, with his background at Spotify, indicates a push towards stronger digital and streaming strategies.
• The elevation of Craig Kallman to Chief Music Officer across the group could lead to more cross-label collaborations and shared expertise.

This restructuring aims to balance the benefits of a major label's resources with the agility of independent labels. The success of this model could influence industry trends and potentially attract more diverse talent to AMG's roster.

Market Research Analyst

This organizational change at AMG reflects broader trends in the music industry, particularly the need for adaptability in a rapidly evolving market. The restructuring addresses several key market factors:

• Increased competition from independent labels and artist-led ventures
• The growing importance of global markets, as evidenced by the focus on "Global Music" in leadership roles
• The continued dominance of hip-hop and R&B genres in popular music
• The critical role of digital marketing and analytics in artist promotion

The success of recent projects like the Barbie soundtrack demonstrates AMG's ability to capitalize on cross-media opportunities. This restructuring could position WMG to better compete with other major labels and streaming platforms that are increasingly involved in artist development. Investors should watch for changes in market share and artist retention rates as indicators of the restructuring's effectiveness.

Focus on cultural impact and creative expertise

New leadership empowered at Atlantic, 300 Entertainment, and 10K Projects

Key moves include promotions of Lanre Gaba and Erica Bellarosa, appointment of Dave Rocco, and elevation of Craig Kallman

NEW YORK, Sept. 23, 2024 /PRNewswire/ -- Today, Atlantic Music Group (AMG), part of Warner Music Group (Nasdaq: WMG), unveiled its dynamic new leadership team and structure. Designed to maximize AMG's cultural impact and strengthen its creative expertise, the changes will empower dedicated A&R and Marketing teams at Atlantic Records, 300 Entertainment, and 10K Projects. Starting October 1, Elliot Grainge assumes the role of CEO of Atlantic Music Group, as Julie Greenwald passes the torch after two decades.

Grainge said, "Atlantic Music Group is home to the most extraordinary artists and executives in the world. This great label has moved through a meaningful transition, and emerged with a world-class team, made up of ambitious innovators and veteran visionaries. We have a plan to build on the extraordinary achievements of the last twenty years, honor the independent DNA of our labels, and collaborate with artists to pioneer a future filled with opportunity. To all our artists, managers, and partners, we are committed to a single principle - maximum impact for original artists. We're looking forward to doing big, bold, brave things together."

Robert Kyncl, WMG CEO, added: "AMG will be lean, agile, fiercely creative, and deeply passionate about artists and their fans. We're opening an exciting new chapter in the story of an iconic label. Elliot's thoughtfully chosen a team that combines a wealth of experience, a diversity of expertise, and a commitment to excellence."

Atlantic Records, 300 Entertainment, and 10K Projects will all be helmed by forward-thinking leaders. 10K will operate within Atlantic Music Group as a standalone venture controlled by WMG. The Elektra, Fueled By Ramen, and Roadrunner imprints will continue under the AMG banner.

For Atlantic Records:

• Lanre Gaba is promoted to President of Hip-Hop, R&B, and Global Music. Lu Mota is EVP, Head of A&R, Hip-Hop, R&B, and Global Music and Marsha St. Hubert is EVP, Head of Marketing, Hip-Hop, R&B, and Global Music. They have supported and helped develop acclaimed artists such as Cardi B, Jack Harlow, Lil Uzi Vert, Burna Boy, and many others.
• Kevin Weaver is President, West Coast. The longtime Atlantic leader was most recently behind the record-breaking Barbie The Album, as well as the Twisters soundtrack.
• In addition, Brandon Davis & Jeff Levin are EVPs and Co-Heads of A&R, Pop & Rock. Marisa Aron is promoted to EVP, Head of Marketing, Pop & Rock. The trio has managed a roster that includes Lizzo, Charli xcx, Charlie Puth, Ava Max, Melanie Martinez, and many others.

For 300 Entertainment:

• Rayna Bass & Selim Bouab are Co-Presidents. Under their guidance, 300 has supported marquee names including Young Thug, Mary J. Blige, and Gunna, among others.

For 10K Projects:

• Nicholas Ziangas and Molly McLachlan are promoted to Co-Presidents, having been instrumental with breakout stars like Artemas, Trippie Redd, and Rich Amiri.

Atlantic Music Group will combine the strengths of key functions at Atlantic, 300, and Elektra, to create one central set of artist development services. These functions at the group level include Creative, Legal & Business Affairs, Promotion, Press & Media Strategy, Digital Marketing & Analytics, Sales & Streaming, A&R Research, A&R Administration, and Marketing Operations.

For Atlantic Music Group:

• Craig Kallman is elevated to Chief Music Officer, expanding his remit to bring his wealth of expertise to artists and projects across the group, while enabling him to mentor the next generation of executives.
• Zach Friedman and Tony Talamo are promoted to Chief Operating Officer and General Manager, respectively. Friedman and Talamo joined 10K Projects in 2018 and their company Homemade Projects was acquired in 2022.
• Erica Bellarosa is promoted to General Counsel, heading legal & business affairs efforts across the entire group.
• Dave Rocco is appointed President of Creative, with responsibilities spanning creative strategy, video, artwork, advertising, and more. He most recently served as Chief Creative Officer at Republic Records and held the title of Global Head of Artist Marketing and Label Relations at Spotify.
• More appointments regarding department heads will be made over the coming weeks. Gregg Nadel has been appointed to a new role within WMG's Recorded Music division, to be announced soon.

Media Contacts
James Steven
James.Steven@wmg.com

Majeda Hussein
Majeda.Hussein@wmg.com 

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SOURCE Warner Music Group Corp.

FAQ

Who is the new CEO of Atlantic Music Group (WMG)?

Elliot Grainge will become the new CEO of Atlantic Music Group on October 1, 2024, succeeding Julie Greenwald.

What labels are included in the Atlantic Music Group (WMG) restructuring?

The restructuring includes Atlantic Records, 300 Entertainment, and 10K Projects, with 10K operating as a standalone venture controlled by WMG.

What is the main goal of Atlantic Music Group's (WMG) new structure?

The main goal is to maximize AMG's cultural impact, strengthen its creative expertise, and provide maximum impact for original artists across its labels.

Who has been appointed as Chief Music Officer for Atlantic Music Group (WMG)?

Craig Kallman has been elevated to the position of Chief Music Officer for Atlantic Music Group, expanding his remit across the group.