New York-based document label 300 Entertainment is reportedly seeking to promote.
That’s in response to an article from Bloomberg at present (October 28), which, citing ‘two people familiar with the process’, reports that the hip-hop label is at present ‘exploring a sale’.
Bloomberg experiences that one in every of its sources say that 300 ‘is expected to sell for at least $400 million’.
300 Entertainment is without doubt one of the most profitable fashionable unbiased labels within the United States.
Run by CEO Kevin Liles, the corporate has loved success with artists reminiscent of Megan Thee Stallion, Gunna, and Young Thug.
The label was initially based in 2012 by Liles alongside his former Warner Music and Def Jam colleague, Lyor Cohen.
Their fellow co-founders at 300 had been Roger Gold (now supervisor of Camila Cabello) and revered A&R specialist, Todd Moscowitz.
300’s different successes through the years have included signings reminiscent of Fetty Wap and Migos, who launched their first album with the corporate, in addition to famous person Megan Thee Stallion.
Google was an early investor in New York-based 300 Entertainment, and is rumored to have pumped a seven-figure sum into the corporate in its early years.
In June, 300 Entertainment launched Sparta, an invite-only distribution platform for DIY artists.
“We are a platform for entrepreneurs, for entertainers, for executives, for creators to partner and do great things.”
Kevin Liles, 300 Entertainment, chatting with MBW in 2019
In an interview with MBW in 2019, 300 Entertainment CEO Kevin Liles, mentioned: “We wanted to build a disruptor, to say, ‘Let’s get rid of all the red tape.’ We didn’t even call ourselves a ‘label’ – we are a platform for entrepreneurs, for entertainers, for executives, for creators to partner and do great things.
“As I reflect on it now, [the launch] was like a Bat Signal for freedom; freedom to do what we wanted when we wanted to do it, with the people we wanted to do it with.
“We are part of what I call the ‘New Independents’; it’s not the old way of thinking, it means being independent in partnership, independent in capitalization, and independent in collaboration.”Music Business Worldwide