MUMBAI: Warner Music Group Corp. and artist management company Violator Management founder and CEO Chris Lighty inked a new joint venture called Brand Asset Group.
The Group is designed to increase revenue by aggressively managing artist brands from all genres and capitalize on the value of those brands through corporate sponsorships, strategic and integrated marketing campaigns and comprehensive brand extensions.
Lighty will serve as CEO of Brand Asset Group, where he will develop product endorsement opportunities and implement strategic, integrated marketing campaigns with artists for the vast array of Fortune 500 companies. The company will seek to serve artists in all genres of music and entertainment — including, but not limited to — artists on WMG’s labels.
Warner Music Group chairman and CEO of US Recorded Music Lyor Cohen said, “Music and artists are at the core of everything we do. Our job is to build an infrastructure that can provide opportunities for artists. Few people in the entertainment industry have been as successful as Chris has been in uniting artists and brands, and we’re thrilled that through this new venture, we’ll be able to bring Chris’ talents and skill to bear on WMG’s roster as well as artists from other labels.”
Warner Music Group executive vice president Kevin Liles said, “Chris’ ability to transform artists into successful multi-media brands has made him a true pioneer. Having worked with Chris for years, I’m confident that together we can build Brand Asset Group into another powerful resource for our artists.”
“WMG is a company full of innovators. Together, we can leverage our skills, relationships and our combined strengths in order to benefit the music industry. There are new and significant brand extension opportunities for artists with different companies that have never been contemplated before. We are eager to work together for the mutual benefit of artists, fans, corporate sponsors and WMG,” added Lighty.
Lighty will continue in his role as CEO of Violator. As CEO of Brand Asset Group, he will report to Liles and work closely with executives at Warner Music Group’s labels including The Atlantic Records Group and Warner Bros. Records in identifying sponsorship and brand extension opportunities for artists.
Artists managed by Violator include Diddy, Missy Elliott, LL Cool J and Busta Rhymes.