As you may have heard, Atlantic Music Group is laying off a group of employees en masse today (September 19), many of whom were key members of the company’s previous period under Julie Greenwald’s leadership.
The news was recently confirmed by Greenwald — with colleagues Max Lousada and Kevin Liles — is leaving Warner Music Group will do so later this month.
Depart today for an appointment 150 Atlantic employees Understandably, this will attract industry attention and discussion in the coming days. (MBW obviously wishes those affected well. Still, it wouldn’t be surprising to see some thriving new indie music companies now emerging from former Atlantic/WMG executives…including Greenwald, Lusada and Lyles.
However, if we zoom out for a second, we see the broader industry story: A new look at the Atlantic Oceanis about to take off with a new strategy and a new identity.
MBW confirmed through sources The Atlantic has dropped about a dozen artists from its roster, in what Perhaps the clearest signal yet that incoming CEO Elliot Grainge’s label will never be the same again Same as before.
“When Elliot takes over as CEO of The Atlantic on October 1, it will be a blank page — a new day for how The Atlantic operates and what The Atlantic contains. … yes“.
What is the shadow of this? Aaron Beschuk In 2018, Beschuk became CEO/Co-Chairman of WMG’s other major label, Warner Records. More than 50% A roster signed by its former management. He also signed 30 new records, some of which six years later have led to a bumper 2024 season for WR.
A source from The Atlantic told MBW Today: “It’s clear what’s going on here, whether it’s layoffs or roster cuts.
“When Elliot takes over as CEO of The Atlantic on October 1, it will be a blank page — a new day for how The Atlantic operates and what The Atlantic contains. … yes.“
MBW recently wondered aloud whether Grainge’s appointment as Atlantic’s new CEO would bring about any significant changes to the label’s A&R focus.
MBW founder Tim Ingham suggested: “Can we see professional strategies like this? atlantic music group Now further breakthrough to higher frequencies fleeting meteor – It’s further away from “going all out” to be born lasting culture ExcellentStar?
As Ingham points out, this outcome may be a “statistical inevitability.”
2022 WMG Confirming that five of its biggest superstar acts contributed only 5% income from its recorded music. Ten years ago, this number was 15%.
Assuming that Grange Atlantic does start to lean more in that direction – that is, signing more artists, but less obsessed with becoming a superstar.
Do the recent changes by record labels indicate they are trying to match their resources to the plan?
Chief Executive Officer, Warner Music Group Robert Kinkel Atlantic’s new round of layoffs was confirmed today (September 19) in an internal report.
In the note, obtained by MBW, Kyncl said WMG will “unveil a new dynamic structure” for Atlantic Music Group next week, adding that Elliot Grainge will “announce changes to the leadership team” ahead of his official first day on the job. information”. Go to work on October 1st.
Kyncl also confirmed that “as part of the restructuring, we will unfortunately say goodbye to talent.”
Elsewhere in the note, the Warner CEO thanked employees affected by the layoffs, noting that they have “left an indelible mark on this company and on the careers of the incredible artists you support.”
Kyncl added: “Words cannot express everything in this situation, but we are forever grateful for all your contributions and achievements over the years. We wish you all the best and know you will continue to do great things in the chapters ahead.” matter.
You can read Kyncl’s full notes below.
Hello everyone,
Since we announced that Julie would be stepping down, we have been carefully examining how to develop the future of Atlantic Music Group. Next week, we’ll unveil a new dynamic structure for the label. Elliot will take over as CEO of AMG on October 1.
As part of the reorganization, we will sadly say goodbye to talented people. I know you’ve been waiting to hear about this plan, and we decided to make these hard choices one step at a time rather than making changes piecemeal.
It’s going to be a rough day, and by 9pm ET you’ll know if your job is affected. Your leadership and personnel team will provide you with all the important details. We are committed to helping those affected by this with the utmost respect and supporting them during their transition.
I want to thank everyone at Atlantic, 300 and Elektra for their hard work, enthusiasm and creativity. I would especially like to thank those who are leaving us. You left an indelible mark on this company and the careers of the incredible artists you supported. Words cannot express under the circumstances, but we are forever grateful for all your contributions and achievements over the years. We wish you all the best and know you will continue to do great things in the chapters ahead.
This year, WMG is rapidly transforming in a fast-paced, competitive industry. As always, delivering great results for artists and songwriters is our top priority in all our selections.
As I mentioned, you’ll be hearing more about AMG’s plans next week, with Elliott making announcements about the leadership team. At the same time, we have so much incredible music on the market and some great projects going on. Your continued support of your teammates is amazing and your dedication to your music is extraordinary.
Thank you and take care,
Robertglobal music business
