LOS ANGELES (CelebrityAccess) — Elliot Grainge’s independent Los Angeles-based record label 10K Projects has formed a new joint venture with Warner Music Group.
Under the terms of the joint venture, 10K Projects will become a standalone label under the WMG aegis, including its roster and A&R team. The label currently serves as a platform for Trippie Redd, Ian Dior, and Internet Money, whose hit “Lemonade” has accumulated more than a billion streams on Spotify.
10K Projects also launched the career of hip-hop sensation Ice Spice, who will continue to record for 10K Projects/Capitol Records.
“Joining Warner Music Group provides us with the backing, the collective expertise and vision to empower our artists and our employees on the next phase of our journey,” said Elliot Grainge, Founder & CEO, 10K. “Max and Robert have been making all the right moves to position WMG for the future in what I think is one of the most fertile and exciting growth periods for the global music business. They have also shown that they value the kind of independent spirit and commitment to artist development that has made 10K successful so far. I know I speak for Zach, Tony and the entire team when I say how excited we are to get started in our new home.”
“Elliot and 10K don’t just discover original talent, they understand how to ignite fandom and create fresh impact with each release. It’s a label full of next generation possibilities – with its artists, its leader, and its team. As 10K joins our thriving network of independent music brands, we’re committed to giving it the freedom and backing to reach new heights,” said Max Lousada, CEO, Recorded Music, WMG.
Grainge, who founded 10K Projects in 2016, is the son of Universal Music Group Chairman and CEO, Sir Lucien Grainge.
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