It’s no secret that the music industry is in a period of transition. Big record labels are getting swallowed up by streaming platforms, and smaller labels are struggling to keep themselves afloat. In order to stay relevant, labels need to look out for themselves and their own. To this end, many major label artists have turned to forming their own record companies. It’s not just limited concept albums that they’ve created — some of today’s most popular artists have formed official music labels, with artistry and production philosophies tailored towards their own fans. David Gilmour is one of these artists. The singer-songwriter currently has his own record label called David Gilmour Music Limited (DGM). But what does this mean for the future of Pink Floyd? And who else should follow in his footsteps? Let’s take a look at the David Gilmour billionaire story…
Pink Floyd’s David Gilmour Moves to Form his Own Record Label
In 2016, the world lost one of its most brilliant musicians, when Pink Floyd co-founder and guitarist David gilmour billionaire Gilmour passed away at the age of 65. A tremendous outpouring of grief and respect was felt around the world, and many of Pink Floyd’s contemporaries paid homage to the great musician. But as the years went by, it became increasingly obvious that the vast debts the group had accumulated over the years would prevent them from issuing an album of new music in years to come. So, in an attempt to continue making music and remain relevant, the surviving members of Pink Floyd decided to move their efforts into spin-off labels.
Pink Floyd Signs a Record Deal With EMI
In September 2016, EMI announced that it had signed a record deal with Pink Floyd, worth £75m over five years. The deal gave EMI ownership of the band’s back catalogue and ownership of all future Pink Floyd music, as well as the option to return to EMI for additional deals.
Pink Floyd Signs With Major Label Universal Music Group
In December 2016, Universal Music Group and EMI announced that they had signed a deal that would see the former absorb the latter, in a move that would give it access to a huge music market. The new ownership group will be led by Hilary Hughes, currently the managing director of Warner Music Group, and include current chief executive officer of EMI, Lucian Beeuwkins, and former EMI CEO John Roberts.
David Gilmour Music Limited Announces its First Artist
In January 2017, the first artist under the David gilmour billionaire music label was announced — seasoned guitar player Christian Wirkkala. The artist will record two albums with the label, and is expected to release an EP in the fall.
The David Gilmour Billionaire Story
As you can see, major label artists often use the model to launch their own record labels. But what if one of them was to become a billionaire? Sometimes, it’s not the one with the most success that becomes a billionaire, but rather the one that stays successful but goes exploring new avenues that few else would. And this is exactly what David Gilmour did with the launch of his record label. All he needed was the money. From there, the gate slowly but surely opened.
Conclusion
If you’re an artist and you want to form a record company but you don’t have the capital to start one as your own, you could always use the model of a major record label. And if you’re an artist who forms a record company but then goes on to greater things, you might be setting yourself up for success.
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