New York-based Concord Music has acquired independent rock music labels Wind-up Records and Fearless Records a month after it merged with Bicycle Music and raised US $100m.
This latest pair of transactions, led by Concord Bicycle Music’s Chief Corporate Development Officer, Steve Salm, follow Concord Bicycle Music’s recent purchase of storied independent labels Vanguard and Sugar Hill Records.
The Bicycle Music Company’s purchased Wind-up’s back catalogue in 2013. Concord Bicycle now adds the label’s active roster and ongoing business to its assets.
New York-based Wind-up Record’s young roster of alternative and rock artists includes Civil Twilight, The Griswolds (pictured), The Virginmarys, Crobot, Young Guns, Strange Talk Revivalists, SPEAK, Aranda and Filter.
The roster also includes singer-songwriters Five for Fighting, Jillette Johnson and Genevieve.
Formed in 1994, Fearless Records became known for launching the careers of respected punk rock acts such as Plain White T’s, At The Drive-In, Bigwig, The Aquabats, and Sugarcult.
In recent years, the Culver City, CA based label has become a home for up-and-coming rock bands, including Pierce The Veil, Breathe Carolina, The Maine, Mayday Parade, The Word Alive, Motionless In White, Alesana, and Every Avenue.
Fearless Records is also home to the “Punk Goes” compilation series. Concord’s Fearless acquisition also brings in Fearmore Music Publishing, which includes the copyright for “Hey There Delilah,” plus Fearless’s in-house merchandise operation.
The ongoing operations of both labels will now form another vital part of the Concord Music Group, which is Concord Bicycle Music’s recorded music division.
President and CEO, Ed Vetri will continue to lead the Wind-up team in New York, working in close conjunction with Concord’s staff in Los Angeles.
Fearless Records founder and president Bob Becker will continue to lead the Fearless team in Los Angeles.
“It’s clear that concord are dedicated to building a major independent music company.”
Ed Vetri, wind-up records
Concord Bicycle Music is a portfolio company of Wood Creek, an investment manager with over $2.5 billion in committed capital.
Wood Creek snapped up the company in March 2013. The financial terms of the deal were not disclosed, but Simon Fuller was reportedly interested in buying Concord for $125m.
“Teaming with Concord provides operational backing and an experienced, committed support team which enables Wind-up to focus entirely on artist development, A&R, marketing and promotion,” stated Wind-up President and CEO, Ed Vetri.
“I have been working closely with the executive management at Concord over the last few years. It’s clear they are dedicated to building a major independent music company, one that benefits independent labels and their artists.
“I’m confident that Wind-up will be well positioned in the U.S. and around the world, to break new alternative and rock artists over the next several years.”
Fearless Records President Bob Becker said: “Fearless has had many opportunities to be acquired by larger companies over the years and it had never seemed like the right fit, until now.
“Fearless and its roster of artists will be able to obtain a higher level of success, and still preserve our important role in the independent music community. I am looking forward to a long and successful relationship with the Concord Music Group.”
Glen Barros, CEO of Concord Music Group stated, “The addition of Wind-up and Fearless illustrates our commitment to expand within the rock genre, a process which we began over the last couple of years. Both of these labels have demonstrated long-term success and are true leaders in their field.
“We are extremely proud to welcome them to the Concord family and look forward to working alongside their very talented teams.”
Scott Pascucci, CEO of Concord Bicycle Music said, “Fearless and Wind-up fit perfectly within our aggressive growth strategies across publishing and recorded music. Ed and Bob will be great additions to Concord Bicycle Music and we look forward to working with them both. “
Concord Bicycle Music, based in Beverly Hills, California and Nashville, Tennessee is comprised of Concord Music Group and The Bicycle Music Company.
Concord Music Group primarily manages the company’s recorded music activities, while The Bicycle Music Company oversees publishing and rights management.
The business controls more than 10,000 active album recordings.
Its masters collection includes works by Ray Charles, John Coltrane, The Connells, Creed, Creedence Clearwater Revival, Miles Davis, Drowning Pool, Evanescence, Finger Eleven, Vince Guaraldi, Isaac Hayes, Kenny G, Carole King, Alison Krauss and Union Station, Steve Martin, Paul McCartney and Wings, Nickel Creek, Nine Inch Nails, The Offspring, The Pharcyde, Robert Plant, Raffi, Otis Redding, Seether, Paul Simon, The Skyliners, Social Distortion, The Staple Singers, James Taylor, George Thorogood, Tone-Loc, Brenton Wood and Young MC.
Its active recording roster includes Paul McCartney, James Taylor, Alison Krauss, Steve Martin and Edie Brickell, Paul Simon, Ben Harper, Seether, Matt Nathanson, Valerie June, Dave Koz, Esperanza Spalding, and Kenny G; and through its partnership with Loma Vista Recordings, Spoon, St. Vincent and Marilyn Manson.
The company’s family of labels includes Concord Records, Concord Jazz, Fantasy, Rounder, Stax, Hear Music, Milestone, Nitro, Prestige, Riverside, Specialty, Telarc, Loma Vista, Bicycle, Vee-Jay and most recent acquisitions Vanguard, Sugar Hill, Wind-up and Fearless.
Concord Bicycle Music’s songbook includes over 55,000 copyrighted works, featuring the standards Always On My Mind, Bad Moon Rising, Because of You, Born On The Bayou, Bring Me To Life, Bust A Move, Come On Get Happy, Crossroads Blues, Down On The Corner, Eye of the Tiger, Fortunate Son, Guantanamera, Guitars Cadillacs, Have You Ever Seen The Rain, Hang On Sloopy, Hurt, Ironic, Lady Sings The Blues, The Letter, Let Your Love Flow, Mamas Don’t Let Your Babies Grow Up to Be Cowboys, Man In The Mirror, Proud Mary, Sister Christian and Slow Ride.
The Concord Bicycle Music songwriter portfolio contains works by Roy Ayers, Marty Balin, Glen Ballard, Sammy Cahn, Wes Farrell, The Fixx, John Fogerty, Foghat, Marvin Hamlisch, Billie Holiday, Robert Johnson, Montell Jordan, Josh Kelley, Cyndi Lauper, Ernie Maresca, Marilyn Manson, Ben Moody, Night Ranger, Nine Inch Nails, Jim Peterik, Plain White T’s, Sonny Rollins, Pete Seeger and Third Eye Blind.Music Business Worldwide