Japanese entertainment conglomerate Avex has named Brandon Silverstein as the CEO of its newly-created Avex Music Group, the company announced Tuesday morning.
As part of the deal, Avex, which previously invested in Silverstein’s company S10, has acquired S10’s music publishing catalog, the company said, adding that it had increased its investment in S10 Management as well. The company said its investment in the management business gives Avex the largest share in the company, alongside Silverstein and Roc Nation.
The investment reflects Avex’s increased focus on the U.S. market, having established S10 Publishing as a joint venture with Silverstein back in 2020. Silverstein’s record label S10 records is not part of the agreement will remain independent, Avex said. The former Avex USA team will consolidate under Avex Music Group, and Silverstein will get an equity stake in the company and join its board of directors.
“Since forming our strategic partnership with Brandon Silverstein in 2020, we have strengthened our presence in the U.S. market, and now, we are taking that vision to the next level,” Avex CEO Katsumi Kuroiwa said in a statement. By deepening our commitment and entrusting Brandon to lead our U.S. operations, we are not only expanding our footprint but also positioning Avex as a potent force in the international music landscape”
Avex didn’t disclose financial details on the acquisition. S10’s publishing catalog includes rights to hits including Justin Bieber’s “Peaches,” Jack Harlow’s “First Class,” Tate McRae’s “Greedy” and Tommy Richman’s “Million Dollar Baby.” Silverstein’s current management clients are Big Sean, Myke Towers and singer-actress Madison Bailey. Silverstein had previously managed artists including Anitta and Normani.
“It is an honor to work alongside Katsumi Kuroiwa and contribute to Avex’s legacy of innovation and excellence,” Silverstein said in a statement. “My mandate is to build Avex Music Group into a dynamic, full-service music company that creates global opportunities for our creative community. I am deeply grateful for this opportunity and look forward to this next chapter with Avex.”
Source: Hollywoodreporter
