A major development in the world of mainstream EDM looks to have far-reaching implications. Warner Music Group (WMG), one of the “big three” record labels, is reportedly finalizing a $100 million agreement that would place Dutch electronic music label Spinnin’ Records in its ownership.
According to Music Business Worldwide, the news coincides with the revelation that Max Lousada will take over as WMG’s CEO of recorded music. Although the merger marks WMG’s biggest purchase since the ink dried on its 2013 deal to acquire German-British imprint Parlophone Records, it falls in line with their broader mission to buy up smaller properties around the globe.
Spinnin’ Records was founded in 1999 by Eelko van Kooten and Roger de Graaf. As more commercial EDM rose to the forefront during the North American festival explosion of the past decade or so, the label championed some of the movement’s biggest names – including Martin Garrix, Armand van Helden and Martin Solveig.
Neither Warner Music Group nor Spinnin’ Records have issued an official statement regarding the acquisition at this time.
Source: Resident Advisor