Music industry veteran BARRY WEISS has struck a new deal with SONY MUSIC to reconfigure ownership over his RECORDS label. The deal buys out his former partners in a new joint venture.
RECORDS launched in 2015 with his former partners, MATT PINCUS and RON PERRY. In 2017, they entered into a joint venture with SONY MUSIC for the label that was renewed for another three years in 2020. WEISS and his original partners hired ARTISAN’s BRIAN RICHARDS to find a new equity partner.
With a roster that includes 24K GOLDN and NOAH CYRUS, RECORDS was reported to have generated around $20 million by the end of 2022 in annual revenue.
SONY MUSIC now owns the RECORDS catalog and all of its other masters from the original joint venture. The recent signings, however, are likely part of the new joint venture that is collectively owned by SONY and WEISS, including MATT STELL, KIMBERLY PERRY and iCANDY.
PINCUS and PERRY are no longer owners in RECORDS. PERRY is now Chairman/CEO of COLUMBIA RECORDS, which distributes many of RECORDS’ releases.