WMG And Chris Lighty Form Brand Asset Group
June 13, 2007 at 5:44 AM (PT)
WARNER MUSIC GROUP and CHRIS LIGHTY, Founder/CEO of VIOLATOR MANAGEMENT, have formed a new joint venture to be known as BRAND ASSET GROUP. The group is designed to increase revenue by more 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.
WMG Chairman/CEO, U.S. 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."
"WMG is a company full of innovators," said LIGHTY. "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."