Thizzer

8mo

Warner Music Group has entered into a joint venture with 10K Projects, the Los Angeles-based label founded in 2016 by Elliot Grainge.

10K Projects will become a standalone label within the WMG ecosystem, bringing its roster and team into the WMG fold.

It is understood that Warner will own slightly north of 50% of 10K Projects as a result of the deal, with Grainge maintaining nearly half of the company.

MBW ranks this as one of the most significant frontline label equity acquisitions for WMG since it fully acquired 300 Entertainment for $400 million in cash, as confirmed in December 2021.

According to a press release announcing the deal, “as 10K Projects continues to grow, the label and its artists will benefit from WMG’s investment, expertise, and global infrastructure, including via support from ADA”.

Grainge will remain CEO of 10K Projects, leading the company along with Co-Presidents Zach Friedman and Tony Talamo.

Grainge will also join WMG’s global leadership team.

10K Projects is home to stars such as Trippie Redd, who WMG notes has, “in just five years has scored eight Top 5 albums and mixtapes”; Iann Dior, who spent eight weeks at No. 1 with the hit Mood; and Internet Money, whose multi-platinum Lemonade boasts more than one billion Spotify streams and charted in over 25 countries.

10K Projects also launched the career of hip-hop star Ice Spice, who it is confirmed will continue to record for 10K Projects/Capitol Records (therefore that artist agreement is outside of the WMG deal).

Thizzer

8mo

Warner Music Group has entered into a joint venture with 10K Projects, the Los Angeles-based label founded in 2016 by Elliot Grainge.

10K Projects will become a standalone label within the WMG ecosystem, bringing its roster and team into the WMG fold.

It is understood that Warner will own slightly north of 50% of 10K Projects as a result of the deal, with Grainge maintaining nearly half of the company.

MBW ranks this as one of the most significant frontline label equity acquisitions for WMG since it fully acquired 300 Entertainment for $400 million in cash, as confirmed in December 2021.

According to a press release announcing the deal, “as 10K Projects continues to grow, the label and its artists will benefit from WMG’s investment, expertise, and global infrastructure, including via support from ADA”.

Grainge will remain CEO of 10K Projects, leading the company along with Co-Presidents Zach Friedman and Tony Talamo.

Grainge will also join WMG’s global leadership team.

10K Projects is home to stars such as Trippie Redd, who WMG notes has, “in just five years has scored eight Top 5 albums and mixtapes”; Iann Dior, who spent eight weeks at No. 1 with the hit Mood; and Internet Money, whose multi-platinum Lemonade boasts more than one billion Spotify streams and charted in over 25 countries.

10K Projects also launched the career of hip-hop star Ice Spice, who it is confirmed will continue to record for 10K Projects/Capitol Records (therefore that artist agreement is outside of the WMG deal).