Universal Music UK has announced that EMI Records and Island Records will be merged as a new restructuring move from October 1, 2024. According to an internal memo seen by Billboard, the merger will create a joint imprint known as the Island EMI Label Group. This restructuring move follows the formation of Interscope Capitol and Republic Corps in Universal Music’s US branch in the past few months.
The company has also announced the launch of Polydor Label Group, which will include Capitol UK, and is set to involve an unknown number of layoffs according to Billboard. The consultation period for redundancies began on the day of the announcement and will continue until mid-September.
The move aims to create two potent frontline label groups, which will house many creative autonomy labels, as stated by Billboard. The two groups are expected to have a dedicated team that supports artists from the wider UMG family. The restructuring aims to strengthen the labels’ capabilities while deepening artist and fan connections.
David Joseph, the CEO of UMG UK, said that the new restructuring is a bold move that would make the company progressive and forward-looking. He also added that the restructuring is necessary to develop artists. The move will require more creativity and patience than ever before. The company remains committed to being the number one place for artists, fans, and talent.
Via Billboard, regarding the restructuring, the good news is that it is expected to create a Joint Island EMI Label Group, which will probably be more potent. The two music labels will enjoy creative autonomy, making it easier for artists to express themselves. However, the bad news is that the process will lead to layoffs that will begin immediately and end in mid-September
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