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. Despite raising its overall market share to 0.97% in 2022, layoffs became inevitable as the company shifted directions. One of Gordys key early signings was 19-year-old Robinson, a born entrepreneur, who helped get Tamla and Motown records played on influential Detroit radio. 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. Motown Records has named Courtney Lowery as executive vice president of media strategy and lifestyle. 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.
1929 Recording industry executive, entrepreneur On the night of January 20, 1988, Berry Gordy, Jr. The company was founded in Detroit i Berry Jr. 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. 2000: Motown, along with the other Universal Music Group companies, is bought by Vivendi. When Motown Records chairwoman and CEO Ethiopia Habtemariam announced on Tuesday she would be stepping down to pursue new endeavors, the news was met with surprise. Motown, Motown Motown is a record company, a musical style, and a corporate conglomerate with several subsidiary labels.
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