{"id":95676,"date":"2024-08-09T18:05:00","date_gmt":"2024-08-09T22:05:00","guid":{"rendered":"https:\/\/www.cyberlego.com\/web\/2024\/08\/09\/how-much-of-the-recorded-music-market-will-the-grainges-control\/"},"modified":"2024-08-09T18:05:00","modified_gmt":"2024-08-09T22:05:00","slug":"how-much-of-the-recorded-music-market-will-the-grainges-control","status":"publish","type":"post","link":"https:\/\/www.cyberlego.com\/web\/2024\/08\/09\/how-much-of-the-recorded-music-market-will-the-grainges-control\/","title":{"rendered":"How Much of the Recorded Music Market Will the Grainges\u00a0Control?"},"content":{"rendered":"

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\n\tIf your last name is Grainge, you probably oversee a large chunk of the U.S. music business.\u00a0<\/p>\n

\n\tFollowing Elliot Grainge<\/strong>\u2019s promotion to CEO<\/a> of Atlantic Music Group effective Oct. 1, the Grainge family\u2014 Elliot and his father, Lucian Grainge<\/strong>, chairman\/CEO of Universal Music Group (UMG) \u2014 will control roughly 37.6% of the U.S. recorded music market, according to Billboard<\/em>\u2019s analysis of data from Luminate. \u00a0<\/p>\n

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\t\t\t\t\t\t\"Julie<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

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\t\t\t\t\tJulie Greenwald to Exit Atlantic\u00a0Records\t\t<\/p>\n<\/h3><\/div>\n

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\n\tThe younger Grainge, whose record label 10K Projects was acquired by<\/a> UMG competitor Warner Music Group in 2023, will lead a record label group with about 7.9% of the U.S. market\u2019s equivalent album units (EAUs). That includes Atlantic Records, which had a 5.3% share through Aug. 1, along with the remaining labels that comprise Atlantic Music Group \u2014 300 Elektra Entertainment (which includes the labels 300, Elektra, Fueled By Ramen, Roadrunner, Low Country Sound, DTA and Public Consumption) and 10K Projects \u2014 with an estimated 2.6% share.\u00a0<\/p>\n

\n\tLed by Republic Records\u2019 10.5% share and Interscope\/Geffen\/A&M\u2019s 10.0% share, UMG-owned record labels have a 29.8% share of the U.S. market\u2019s EAUs. Other labels under UMG\u2019s umbrella are Island Records, currently basking in a string of hits by Sabrina Carpenter<\/a> and Chappell Roan<\/a>, and Universal Music Group Nashville, a collection of labels that are home to Chris Stapleton<\/a>, Luke Bryan<\/a> and Carrie Underwood<\/a>, among others. UMG also distributes labels it does not own, although for these purposes, Billboard<\/em> is comparing market share of owned labels only. Billboard<\/em> estimates that UMG\u2019s distributed labels have an aggregate market share of 8.8% of EAUs. \u00a0\u00a0<\/p>\n

\n\tThe Grainge\u2019s father-son CEO dynamic is unprecedented even for an industry that often sees the offspring of heavy hitters follow a parent into the business. There have been many family businesses run by successive generations \u2014 music publisher peermusic, for example \u2014 but never in modern history have a father and son been CEOs of a global music company and a major label music group simultaneously. \u00a0<\/p>\n

\n\tGrainge, age 30, will ascend to CEO of Atlantic Music Group as WMG restructures its organizational chart and Atlantic retools to market music to digital natives (a.k.a. young people). CEO Robert Kyncl<\/strong> is \u201cexcited by the prospect of taking Atlantic\u2019s culture making capabilities and adding the 10K Projects founder\u2019s digitally native approach into the mix,\u201d he said during Wednesday\u2019s earnings call.<\/p>\n

\n\tAs Billboard<\/em> reported in February, Atlantic laid off about two dozen staffers with the intention of \u201cbringing on new and additional skill sets in social media, content creation, community building and audience insights,\u201d with the goal of \u201cdial[ing] up our fan focus and help[ing] artists tell their stories in ways that resonate,\u201d Julie Greenwald<\/strong>, the company\u2019s chairman\/CEO, said at the time. Greenwald was to assume the new role of chairman upon Grainge\u2019s promotion but announced her resignation<\/a> on Tuesday (Aug. 6).\u00a0She will officially step down at the end of January 2025.<\/p>\n<\/div>\n<\/div>\n

Aller \u00e0 la source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

If your last name is Grainge, you probably oversee a large chunk of the U.S. music business.\u00a0 Following Elliot Grainge\u2019s promotion to CEO of Atlantic Music Group effective Oct. 1, the Grainge family\u2014 Elliot and his father, Lucian Grainge, chairman\/CEO of Universal Music Group (UMG) \u2014 will control roughly 37.6% of the U.S. recorded music […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[17],"tags":[],"class_list":["post-95676","post","type-post","status-publish","format-standard","hentry","category-musique","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"_links":{"self":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/95676","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/comments?post=95676"}],"version-history":[{"count":0,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/posts\/95676\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/media?parent=95676"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/categories?post=95676"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cyberlego.com\/web\/wp-json\/wp\/v2\/tags?post=95676"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}