Music

Warner Music Group Takes a Stake in Hungarian Label Magneoton

Warner Music Group Takes a Stake in Hungarian Label Magneoton

Warner Music Group takes a stake in main Hungarian file label Magneoton, with a partnership that sees the renewal of licensing agreements and a brand new distribution deal.

Warner Music Group (WMG) has acquired a stake in Magneoton, the main Hungarian file label. The partnership may even see the businesses proceed their longstanding licensing settlement whereas including a brand new distribution take care of strategic plans to develop a joint native roster.

WMG and Magneoton have had a relationship courting again 30 years. Magneoton was based by former artist László Pásztor and artist supervisor István Joós and bought by WMG in 1993, and run as Warner Music Hungary from 1993 to 2004. A administration buyout noticed Magneoton separate from WMG and function as an area unbiased label, which went on to turn out to be Warner Music’s licensee from 2010.

Magneoton has grown its enterprise to incorporate appearing as a administration firm, live performance organizer, and digital music company. It has labored with native superstars like Majka, Curtis, DR BRS, and Lotfi Begi, in addition to a brand new technology of expertise, together with two of the most-watched rising stars, bongor and Sisi.

“This newest section in our relationship with Magneoton marks a big return to Hungary by Warner Music,” says Izabela Ciszek-Podziemska, Common Supervisor, Warner Music South East Europe. “Whereas Magneoton will proceed to behave as a licensee for our worldwide repertoire, we’ll now even be working collectively to find nice Hungarian artists and take their music to the world.”

“Magneoton and Warner Music have a wealthy historical past of working collectively and producing unimaginable outcomes for our acts,” provides Noemi Virag Csontos, Common Supervisor of Magneoton. “This deal highlights our dedication to breaking Hungarian artists internationally whereas giving native followers unparalleled entry to music from a number of the world’s greatest stars.”

The primary launch beneath the brand new settlement was “Heartbreak,” a collaboration between Lotfi Begi and Cecilia Gault. An upcoming observe, “Heaven,” by Stadiumx, Sam Martin, and Azahriah, is dropping on Friday.

Stadiumx, one of many most-streamed Hungarian artists ever, has delivered hits with EDM stars like Dave Guetta, Nicky Romero, and Bob Sinclar. Azahriah is a outstanding native artist making waves within the Hungarian music scene, having lately landed eight tracks within the native Prime 10 Spotify chart.

This new deal is Warner Music’s newest transfer in Jap Europe, the place it has grown its presence considerably by appointing Izabela Ciszek-Podziemska as Common Supervisor of Warner Music South East Europe, the funding in Serbian file label Mascom Information and Polish promoter Large Thought, the partnership with Poland’s Step Information, the acquisition of Slovakia’s Opus Information, and a take care of main Czech Republic hip-hop label Mike Roft.

 

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