Capitol’s overall market share and current share both declined during that period. Motown Records has named Courtney Lowery as executive vice president of media strategy and lifestyle. The perfect choice, it turns out, because Harrell, named CEO of Motown last year, wants to revive the legendary company by concentrating on traditional soul singing. Prior to her promotion, Ethiopia was the. She has held this position since February 2021.
4 Its name, a portmanteau of motor and town, has become a nickname for Detroit, where the label was originally. as Tamla Records on January 12, 1959, 2 3 and incorporated as Motown Record Corporation on April 14, 1960. They join a long list as music media, and tech’s economic outlook remains uncertain with Amazon, Google, Spotify, Twitter, SoundCloud, BMI, Showtime, Vox Media, and Disney all among those trimming jobs as a result of the murky market.Īs for Motown, its current market share for music releases in the past 18 months grew from 1.18% in 2021 to 1.33% in 2022. For more than sixty years, Motown Records has been the ideal for Black entrepreneurs around the world a beacon of transformative, inter-generational success led by forward-thinking leaders and executives who introduced the world to artists including Another Bad Creation, Ashanti, Boyz II Men, Brian McKnight, DeBarge, India Arie, Queen. Ethiopia Habtemariam is the Chairman and CEO of Motown Records. Motown is an American record label owned by the Universal Music Group. Despite raising its overall market share to 0.97% in 2022, layoffs became inevitable as the company shifted directions. Motown Records joins several music and media companies that announced layoffs in the past year. Last week, after a spike in interest and market share for Motown, Quality Control was acquired by HYBE America for $300 million. The legendary Motown label was founded on Januand incorporated as Motown Recording Corporation on Apby Berry Gordy, Jr. Santa Monica, CA MaUniversal Music Group (UMG), the world’s leading music-based entertainment company, announced today that Ethiopia Habtemariam, who has served as President of Motown since 2014, has been elevated to Chairman and CEO of the label, reporting directly to UMG Chairman and CEO Sir Lucian. Habtemariam spearheaded Motown’s shift from New York to Los Angeles and helped seal the deal for Motown’s landmark partnership with Atlanta-based Quality Control, which included artists and groups like Lil Baby, Migos, Lil Yachty, City Girls, and more. Fears of layoffs set in amid talk of a potential merger after CEO Ethiopia Habtemariam announced her departure from the company in November of 2022. Motown Records, first founded by Berry Gordy in Detroit, Michigan in 1958, had first begun operating under CMG’s umbrella in 2014 only to step outside it in the spring of 2021.
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