The 300 Entertainment label represents some of the biggest names in the music industry, including Megan Thee Stallion, Gunna and Young Thug. The owners are looking for $ 400 million for the business, according to Bloomberg, according to two people familiar with the negotiations. The company hopes to take advantage of a booming market for musical assets.
300 Entertainment was founded by Lyor Cohen, Roger Gold, Kevin Liles and Todd Moscowitz in 2012. The label quickly established itself as a force in hip hop with rappers on their roaster hitting the display charts. The company has raised funds from Google, as well as several financial firms. Cohen left in 2016 and is now the global head of music for YouTube. Kevin Liles has taken over the general management and still runs the company. 300 continued to bring successful artists into the music industry, for example Megan Thee Stallion. The Houston rapper won three Grammy Awards this year, including Best New Artist and Best Rap Song for “Savage.” Atlantic Records from Warner Music Group distributes 300 releases. In 2019, Liles spoke with Music Business Worldwide to discuss the group’s motivation to create the label.
âWe wanted to build a disruptor, to say, ‘let’s get rid of all the paperwork. We don’t even call ourselves a “label” – we’re a platform for entrepreneurs, for artists, for executives, for creators to come together and do great things.
He added: “As I think about it now, [the launch] was like a Bat-Signal for freedom. The freedom to do what we wanted when we wanted to do it, with the people we wanted to do it with.
Liles also describes the record company as “the new independents.”
“This is not the old way of thinking, it means being independent in the partnership, independent in the capitalization and independent in the collaboration,” he explained.
The owners are selling the most profitable music asset market in recent history. Copyrights and music companies have gained in value in recent years thanks to music streaming services. Music sales have increased dramatically for five consecutive years.
Two of the three major record companies, Warner Music Corp and Universal Music Group NV, have gone public in the past 16 months. Private equity firms have splurged on old catalogs.