Universal Music Group (UMG) has launched Virgin Music Group, a new global division that will unify the artist services businesses of UMG under entrepreneurs and mtheory founders JT Myers and Nat Pastor as Co-CEOs.
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Building on their experience advising clients of mtheory—an artist development, marketing, strategy and operations platform designed to help empower artist managers within the music industry—Myers and Pastor will lead the expansion of independent music capabilities across all of its business units and regions.
The new division will include the Virgin Music Label & Artist Services, a network of regional hubs throughout leading music markets around the world that delivers artist and label services to independent talents and entrepreneurs; Ingrooves Music Group, a music distribution, marketing and technology service that helps entrepreneurs grow their businesses within the global music industry; and mtheory Artist Partnerships, the bespoke label division of the company.
The mtheory Artist Partnerships label, the team behind the No. 1 most streamed track of all time (as of press time), Major Lazer’s “Lean On,” creates aligned, equitable partnerships with artists, and provides global marketing.
“Mtheory was founded on the idea that we could transform the music industry by offering better, more aligned partnerships with artists,” said Myers. “By bringing these incredible global teams and resources together, we have the opportunity to turbo-charge that vision, and deliver even more value to artists, labels and music entrepreneurs.”
Pastor added, “We are so thankful to Sir Lucian and Boyd for entrusting us with the iconic Virgin Music brand, one of the most successful independent labels in the industry’s history, as well as Ingrooves, arguably the most sophisticated music technology platform in the world.”
Under the new division Virgin Music Label and Artist Services regional hubs will become part of the Virgin Music Group, while still utilizing the local A&R expertise and creative networks within their respective countries. The Virgin Music Label & Artist Services in the U.S. will also evolve from a division of Capitol Music Group to a standalone company serving all U.S. labels and partners of UMG.
“In order to remain the best home for artists and entrepreneurs we must drive innovation in our own businesses—offering new and high-quality resources for artists from all corners of the world while continuing to lead the industry’s transformation,” said UMG Chairman and CEO Sir Lucian Grainge in a statement. “Nat and JT’s track record for creating forward-thinking partnerships with artists that are built on a foundation of trust, creativity and business acumen is exactly the kind of leadership we want for the new Virgin Music Group division. Together with our frontline labels and global footprint, Virgin Music Group offers artists unmatched creative and commercial support.”
Photo: Courtesy of Universal Music Group
