Musical instrument manufacturer Yamaha has announced the launch of a new record label in the US, going by the catchy name of Yamaha Entertainment Group Of America and operating what it claims is “a completely new business model for rising and established artists”.
The company will handle as much of its artist projects in house as possible, including recordings, publishing, licensing, video production and marketing, while handing distribution over to ADA. I’m not quite sure how that makes it a “new business model”, but a spokesperson for Yamaha told CMU that the new label venture will be “able to give our artists a higher percentage of the share than a standard record label deal”, so that’s good.
Head of the new company, Chris Gero said: “For nearly five decades, Yamaha has been the world leader in artist endorsements. It was a natural progression to take the next step and provide what our artists needed at a critical time in music history. Our goal is to significantly enhance the services we provide, while maintaining the level of quality our artists have come to know us by. Not only do we stand behind the instruments our artists use to make music, but we also stand behind their talent”.
YEGA’s first signing is London-based band Leogun, who are managed by Elton John’s Rocket Music Entertainment Group. Said John of the deal and the launch of the label: “I would definitely include Yamaha in my musical ‘family’, and I am both pleased and impressed that they have seen the potential in Leogun, who are already signed to my management company, and have now signed the band to their new record label”.
He continued: “I’m also impressed that in these difficult times Yamaha has the confidence and vision to start a new record label. Yamaha and I have a successful relationship based on mutual respect and an overwhelming love of music, and I am sure that their relationship with Leogun will be equally enjoyable and productive”.
The new company will also manage promotions for various artists involved in Yamaha’s endorsement scheme, including one relating to Elton John’s (him again) Las Vegas residency.
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