In an interesting turn of events, one of metalcore’s biggest and most successful labels, Rise Records, has been bought out by BMG.
While the exact numbers weren’t revealed, according to Music Business Worldwide, the acquisition came in the form a multi-million dollar deal.
In a brief statement about the new partnership, President of Creative & Marketing at BMG Chrysalis US, Laurent Hubert, noted the huge influence Rise has on the hard rock scene.
“Rise Records is more than a record label,” Hubert explains. “It is a cultural phenomenon which has harnessed digital media to create a genuine community. We are delighted to partner with Craig [Ericson; Rise Owner] and his team to give Rise’s artists access to BMG’s world-class admin services and international network.”
For fans weary of what might happen to the Oregon-based label with BMG’s new presence, it appears that Ericson is pretty confident things are only going to help.
“I’m thrilled to work with BMG,” says Ericson. “I know Rise Records and its bands will benefit greatly from this new partnership.”
With the impact of this agreement yet to be seen, the deal comes at a very interesting time as sales of hard rock recordings in the US grew by an impressive 8% in 2014′s fourth quarter while the overall market declined by 3.5%. Also, less than two weeks ago, it was announced that Fearless Records had been bought out by Concord Bicycle Music for a whopping $10 million dollars.
For more on Rise’s acquisition, you can read Music Business Worldwide’s full report here.
