Spinnin’ Records sold to Warner Music for a whopping price tag
The day has come; Spinnin’ Records has been bought by a major label!
It was bound to happen. Major record labels were hungry for ‘smaller’ imprints and Warner Music had the biggest bite, as it has now acquired legendary Dutch dance music label, Spinnin’ Records, in a major deal.
Spinnin’ is possibly the biggest dance music label in the world, and although terms of the deal were not disclosed, Music Business Worldwide estimates the price tag to be in the area of $100 million dollars.
This grand price even seems like a bargain considering Spinnin’ Records has many sub-divisions, including music-publishing and management divisions as well as hosting an impressive array of artists that include Alok, Bassjackers, Oliver Helden’s Throttle and many more.
It also has deals with smaller labels of popular stature like Tiesto’s ‘Musical Freedom,’ Don Diablo’s ‘Hexagon’ and KSHMR’s ‘Dharma.’
Spinnin’ to new levels
This does not mean that Spinnin’ records will be majorly broken down and restructured- Roger De Graaf, its co-founder, will continue to run the label as CEO and will work closely with Bart Cools, WMG’s EVP, Global a&R and Marketing of dance music.
However, fellow co-founder Eelko van Kooten will step down as he “has decided to leave the music business to pursue interests in other industries.”
This acquisition comes less than a month before Warner Music UL chairman/CEO Max Lousada takes over as Warner Music’s new CEO of recorded music on Oct 1, as he continues the company’s international push.
We can’t know for sure what this acquisition into a major label will mean for Spinnin’ Records- bigger releases, unreleased tracks seeing the light of day, an influx of pop-related releases? Only time will tell.