Music Updates

Inside Primary Wave’s $1.5 Billion Hit Factory

“I don’t understand how you can be in a business and just write checks and not create value, which is why we have 70-plus people focused on generating new ideas for partnerships with these artists,” says Mestel. “Most of our competitors put their songs in a drawer.”

A former executive at Virgin Records, Arista Records and Island Entertainment Group, Mestel says he modeled Primary Wave’s creative drive after Chris Blackwell’s 61-year-old Island Records — which guided the careers of Marley, U2 and Cat Stevens — by leveraging innovative distribution deals, imprints and subsidiaries. “[Blackwell] taught me how to be artistically sensitive and why it’s important to partner with artists,” he says. That relationship led to Primary Wave’s purchase of 80% of Blackwell’s share of Marley’s publishing catalog for $50 million in 2018.

 Source link

Back to top button
SoundCloud To Mp3