source : http://www.theprp.com/2015/05/06/news/f ... cle-music/Concord Bicycle Music has acquired both Fearless Records and the remaining catalog of Wind-Up Records (who had previously sold the rights to their more lucrative back albums to Concord Bicycle Music back in 2013.) Citing unnamed sources, Billboard report that the deal to purchase Fearless Records was allegedly around $10 million, with the label currently having an annual revenue of $15 million through the label, publishing and their own merchandising business. Artists currently signed to Fearless include Pierce The Veil, The Word Alive, Motionless In White and more. Meanwhile, bands currently on the Wind-Up roster that were part of the deal include Filter, Scott Stapp and more.
Original article at Billboard.com :
http://www.billboard.com/biz/articles/n ... ss-records
I wonder if Stapp is going to get dropped or not, considering Proof of Life didn't exactly go platinum.Meanwhile, Wind-up had annual revenue of under $1 million last year, but the label has a healthy release schedule this year that includes about a dozen releases. The label sold off catalog albums by Creed, Evanescence, Seether and Alter Bridge to Bicycle Music in October 2013, which was about 18 months ahead of the Bicycle Concord Merger in April 2015.
The Wind-Up roster includes Aranda, Civil Twilight, Filter, Five for Fighting, Genevieve, James Durbin, Jillette Johnson, Scott Stapp, Strange Talk, the Darkness, the Griswolds, the Virginmarys, Young Guns, Crobot and the Revivalists.
Vetri says that evolution of the marketplace into streaming has placed a tremendous administrative burden on labels trying to be transparent while accounting for multiple levels of streaming data.
"This deal with Concord gives us the ability to focus on signing, nurturing and marketing artist and their music while the Concord infrastructure takes away allot of the responsibilities that were proving to be too burdensome to handle," Vetri says.
Moreover Vetri added in a statement, “I have been working closely with the executive management at Concord over the last few years. It’s clear they are dedicated to building a major independent music company, one that benefits independent labels and their artists." Betri says the deal positions Wind-up to break new alternative and rock artists over the next several years.
All I know, is that he made a huge mistake when he chose a deal with Wind-up instead of a big fat paycheck. They didn't do much for his album promotion-wise, and now, look what happened to that once great label.