It’s been confirmed that Warner Music Group has officially acquired Spinnin’ Records for a deal worth approximately $100 Million USD. This will be one of the largest acquisitions in the modern day music industry.
Van Kooten is the son of former Dutch radio DJ and businessman Willem van Kooten, and initially worked in the publishing business of his father. Together with Roger de Graaf, a former employee of the specialist dance retailer Rhythm Import, van Kooten formed Spinnin’ Records in 1999. Initially, they concentrated on the pressing of vinyl for artists.
Spinnin’ Records hosts 21 active sub-labels alongside their main imprint; the majority linked to a specific artist. The label provides A&R, management, publishing and (digital) marketing for artists they have under contract. The label promotes songs without naming the artists in order to ‘create a buzz’.
Warner Music Group (abbreviated as WMG, commonly referred to as Warner Music or WEA International) is an American multinational entertainment and record label conglomerate headquartered in New York City. It is one of the “big three” recording companies and the third largest in the global music industry, next to Universal Music Group (UMG) and Sony Music Entertainment (SME), being the only American music conglomerate worldwide. Formerly owned by Time Warner, the company was publicly traded on the New York Stock Exchange until May 2011, when it announced its privatization and sale to Access Industries, which was completed in July 2011. With a multibillion-dollar annual turnover, WMG employs in excess of 3,500 people and has operations in more than 50 countries throughout the world.
The company owns and operates some of the largest and most successful record labels in the world, including its flagship labels Warner Bros. Records, Parlophone and Atlantic Records. WMG also owns Warner/Chappell Music, one of the world’s largest music publishers.
Max Lousada doesn’t officially start as Warner’s worldwide recorded music chief until October 1, 2017.
Eelko van Kooten, Co-founder of Spinnin’ Records comments: “Each of the Spinnin’ companies has matured successfully which makes it a good moment for me to step down. With pride and joy I look back on 25 exciting years in the music industry and feel grateful to have worked with so many talented artists and an incredible team at Spinnin’. I want to thank them for their dedication and unlimited efforts. A special thank you to my business partner and best friend Roger de Graaf for all the laughs, the challenges and the success we’ve experienced together. As I look ahead at the next chapter in my life, I remain confident that the team will continue to accelerate and that Spinnin’ will enjoy continued success.”
Max Lousada, Chairman & CEO, Warner Music UK, who becomes WMG’s CEO, Recorded Music on October 1st, said: “Warner’s past, present and future are all about creating an environment in which incredible artists and entrepreneurs thrive. That’s why I’m pleased to welcome Spinnin’ to our growing family of labels, each with its own cultural identity. Roger and the team aren’t just world leaders in dance music, but pioneers of new ways to break artists and build music brands. Together, we’ll nurture and expand Spinnin’s global community of hit-makers, DJs, producers, songwriters, and millions of passionate fans.”
Oneedm will be following this story as it continues to develop.