On June 18th, Warner Music Group announced plans to release Elektra as a stand-alone record company, effective October 1st. Warner directly managed the label, but Elektra is now planning to envelop many of the music giant’s independent-leaning labels under its own management; these labels include Fueled by Ramen, Black Cement, Low Country Sound, and Roadrunner. Mike Easterlin and Greg Nadell will act as the heads of the company. This shift is a return to its roots, with Warner, Elektra, and Atlantic all operating independently once again. This is the largest move by a record company in recent history, potentially serving as a sign of healthy growth for the music industry at large.
A large number of major artists will be moving to Elektra. Bands signed to the enveloped labels, such as Paramore under Fueled by Ramen, will also be moving to their management. Artists on the Atlantic label, such as Panic! at the Disco, are also moving to the new group. Early press statements indicate an intent for management to be heavily artist-centered, providing new avenues for the artists operating under Elektra. The move towards independence could certainly lead to some exciting projects coming out of Elektra in upcoming years.
What do you think of the Warner-Elektra shift? Let us know in the comments!