Concord Acquires Wind-Up, Fearless Records
May 6, 2015 at 10:22 AM (PT)
CONCORD BICYCLE MUSIC has acquired independent rock music labels, WIND-UP RECORDS and FEARLESS RECORDS. The deal helps the company develop and grow its rock and alternative music portfolio. The acquisition of WIND-UP and FEARLESS closely follows CONCORD BICYCLE MUSIC’s recent purchase of indies VANGUARD and SUGAR HILL RECORDS.
Pres./CEO ED VETRI will continue to lead the WIND-UP team in NEW YORK, working in close conjunction with CONCORD’s staff in LOS ANGELES. FEARLESS RECORDS Founder/Pres. BOB BECKER will continue to lead the FEARLESS team in L.A. Additionally, CONCORD BICYCLE MUSIC has raised $100 million of supplementary capital to fund future growth through continued music rights acquisitions and artist development investments.
Founded in 1997, WIND-UP RECORDS has built a roster of alternative and rock artists such as CIVIL TWILIGHT, THE GRISWOLDS, THE VIRGINMARYS, CROBOT, YOUNG GUNS, STRANGE TALK REVIVALISTS, SPEAK, ARANDA and FILTER, as well as singer-songwriters FIVE FOR FIGHTING, JILLETTE JOHNSON and GENEVIEVE. The acquisition of WIND-UP’s active roster and ongoing business follows The BICYCLE MUSIC COMPANY’s purchase of WIND-UP’s core catalog in 2013.
FEARLESS RECORDS has launched the careers of PLAIN WHITE T'S, AT THE DRIVE-IN, BIGWIG, THE AQUABATS and SUGARCULT, among others. Also part of the deal is FEARMORE MUSIC PUBLISHING and the company’s in-house merchandise operation.
“Teaming with CONCORD provides operational backing and an experienced, committed support team which enables WIND-UP to focus entirely on artist development, A&R, marketing and promotion,” WIND-UP Pres./CEO ED VETRI said. “I have been working closely with the executive management at CONCORD over the last few years. It’s clear they are dedicated to building a major independent music company, one that benefits independent labels and their artists. I’m confident that WIND-UP will be well positioned in the U.S. and around the world, to break new alternative and rock artists over the next several years.”
“FEARLESS has had many opportunities to be acquired by larger companies over the years and it had never seemed like the right fit, until now,” FEARLESS RECORDS Pres. BOB BECKER said. “FEARLESS and its roster of artists will be able to obtain a higher level of success, and still preserve our important role in the independent music community. I am looking forward to a long and successful relationship with the CONCORD MUSIC GROUP.”
“The addition of WIND-UP and FEARLESS illustrates our commitment to expand within the rock genre, a process which we began over the last couple of years," CONCORD MUSIC GROUP CEO GLEN BARROS stated. "Both of these labels have demonstrated long-term success and are true leaders in their field. We are extremely proud to welcome them to the CONCORD family and look forward to working alongside their very talented teams.”
“FEARLESS and WIND-UP fit perfectly within our aggressive growth strategies across publishing and recorded music," CONCORD BICYCLE MUSIC CEO SCOTT PASCUCCI added. "ED and BOB will be great additions to CONCORD BICYCLE MUSIC and we look forward to working with them both. “