The new standalone label group will include Elektra, Roadrunner, Low Country Sound and Black Cement.
In the latest sign that the future is looking rosy for the music business, Warner Music Group is launching a new standalone record company to be staffed by a mix of WMG employees and new hires.
The company, Elektra Music Group, will launch October 1 and consist of WMG's labels Elektra Records, Fueled By Ramen (FBR), Roadrunner Records, Low Country Sound, and Black Cement Records, marking the first time in 15 years that the storied Elektra label will operate independently. Heading the new 60-person team will be FBR/Roadrunner president Mike Easterlin and Elektra's current president Gregg Nadel.
As co-presidents, they will report to Atlantic Records Group chairman/CEO Craig Kallman and chairman/ COO Julie Greenwald, who architected the plan, even though the new unit won't be part of the Atlantic group. Its roster will include twenty one pilots, Zac Brown Band, Brandi Carlile, Fitz and the Tantrums, Sturgill Simpson, Paramore, Slipknot, Panic! At The Disco, Coheed and Cambria, Kaleo and Gojira.