“Our goal at BPG/Warner is to discover, mentor, and grow the next generation of musical and cultural innovators and disruptors,” said Roberson and Nelson in a statement. “We want to use our knowledge and experience to help them navigate the process and take their careers to the next level, while maintaining their creative and business independence.”
“We’re thrilled to be partnering with Gee and Jean on this forward-thinking partnership,” added Warner Records co-chairman & CEO
Aaron Bay-Schuck and co-chairman & COO
Tom Corson. “They’re bringing their brilliant A&R minds and industry expertise to a unique portal that champions artistic freedom. This fresh business model charts new territory in the relationship between original talent and the major label ecosphere. They’ve already brought us two amazing artists in Erica Banks and David Sabastian, with whom we have very different, specially tailored deals, and we’re looking forward to collaborating on many more
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Rotana has signed on some of the Arab world s biggest music artists including Egyptian mega-star Amr Diab, Saudi Arabia s Mohamad Abdo and Lebanon s Elissa.
In 2018, Prince Alwaleed’s Kingdom Holding Company and Rotana Group invested $266.7 million in music streaming service Deezer in a private placement that valued the company at around $1.10 billion, analysts said at the time. Alongside the deal, Rotana and Deezer also signed an exclusive long-term agreement to distribute the music company’s Arabic digital audio and video content across the region. The Middle East and North Africa region is among the most culturally dynamic places in the world today, with burgeoning musical scenes and dramatic consumption growth, Simon Robson, WMG’s president of international and recorded music, said. We’re especially excited about the opportunity to both expand our profile in the region and to bring these amazing artists to audiences across the globe.”
Warner Music takes stake in Prince Al-Waleed’s Rotana Music
Photo: Wikimedia CommonsPremium
Keach Hagey
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Warner Music Group Corp. has agreed to buy a minority stake in Saudi billionaire Prince al-Waleed bin Talal’s Rotana Music, in a deal that would expand Warner’s presence in the Arab world while extending the global reach of Rotana’s roster of artists.
The companies made the announcement on Tuesday but declined to disclose the size of the stake or any other financial terms. The Wall Street Journal had previously reported that the companies were nearing a deal that would have valued Rotana at close to $200 million.