According to Firebird, the agreement unites Yungblud’s core business of recorded music (released by Capitol Records/Universal Music Group), touring (handled by Creative Artists Agency/CAA), and other ventures behind a so-called “shared growth model.”
This model will see Yungblud contribute earnings from his recorded music, touring, merchandise, clothing line, brand deals, and more, to a new business called YB Inc.
A Firebird spokesperson confirmed that the company will invest “tens of millions of dollars” into the business. The company calls the agreement an “industry first” and “a joint vision of long-term revenue growth across all projects”.
Yungblud and Firebird will each own an equal number of shares in the new YB Inc company, according to Bloomberg, which reports that the British artist is building “a $100 millionbusiness“.
Yungblud’s ventures include a music festival called Bludfest, which he launched in the UK last year.
He also runs a fashion and lifestyle brand, Beautifully Romanticized, Accidentally Traumatized, co-designed by Jesse Jo Stark.
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As part of the deal with Firebird, Yungblud and his management team at Special Projects Music will receive infrastructure support via the company’s “ecosystem of technology, talent, relationships, capital, and expertise.”
The partnership with Yungblud marks the latest for acquisitive Firebird, which was founded in 2022 by former Ticketmaster CEO Nathan Hubbard and ex-KKR partner Nat Zilkha, with Raine Group as its lead investor.
Zilkha said on Monday (January 27) that his company’s Yungblud partnership “is the culmination of everything we’ve built since founding Firebird”.
“We now have the team, the infrastructure, the capital, the data and the results to help world class artists reimagine both their business and their relationship with their fans.”
Nat Zilkha
Added Zilkha, Firebird’s Co-Founder and Executive Chairman of Firebird: “We now have the team, the infrastructure, the capital, the data and the results to help world class artists reimagine both their business and their relationship with their fans.
“We’re at the very beginning of an evolutionary moment for artists.”
Firebird, which claims to be the “engine that powers over 1,000 artists worldwide”, has picked up stakes in a number of music and music-adjacent companies over the past couple of years.
In September 2022, MBW exclusively revealed that the US company had acquired a minority stake in Coran Capshaw’s Red Light Management.
Two months later, we discovered that Firebird had bought a significant stake in UK-headquartered Transgressive Records.
Nat Zilkha told Billboard at the time that although Firebird had struck some minority-equity transactions, “most of [the deals we have done] is buy majority stakes”.
In June 2023, the Wall StreetJournal reported that the company had raised more than $400 million from investors including Goldman Sachs, KKR and Pritzker Organization.
In September, the company struck up a joint venture with Los Angeles-based artist management company Hills Artists.
“My goal since the beginning was to break down the wall, to empower the fluidity between artist, art and fan and this opportunity allows me to do that further, faster and stronger – the future feels limitless.”
Yungblud
“From day one, YUNGBLUD has always been about the deep connection with people,” said Yungblud, commenting on his new partnership with Firebird. “Before I even had a fanbase I wanted to find people who believed in a mutual idea. As things beautifully got bigger, I never deviated from that the fundamental concept.
“Everything I do will always be about an authentic communication with myself and others: to keep building a global community through love, a shared vision and by always putting the art and the message before the business. The Firebird team totally understand that and they have supported me in creating a tailor-made model specific to me as an artist.”
Added Yungblud: “It allows me to empower my artistic vision across all the different worlds I am building in music, in comics, in fashion as well as continuing to evolve the relationships I already have with my record label and others. Ultimately, this is the future. It’s where the industry is inevitably heading, there is no “formula” anymore and that’s fucking beautiful.
“It forces ‘the truth’ to be the main ingredient of what makes art or an artist great. My goal since the beginning was to break down the wall, to empower the fluidity between artist, art and fan and this opportunity allows me to do that further, faster and stronger – the future feels limitless. I’m excited!”
“This partnership infrastructure will allow Yungblud and other like-minded artists of the future to be their best creative and business selves as they unify their projects in service of one holistic brand that maintains the core fanbase connection.”
Nathan Hubbard, Firebird
Commenting on the deal, Nathan Hubbard, Co-Founder and CEO of Firebird, added: “As artists continue to expand beyond recorded music into other endeavors, we’ve created an ecosystem to empower all their creative passions along every stage of their career that both deepens fan engagement and drives significant collective revenue growth.
“Yungblud is a model example of the modern artist-entrepreneur who has thoughtfully and intentionally grown his fan communities across multiple sectors.
“This partnership infrastructure will allow Yungblud and other like-minded artists of the future to be their best creative and business selves as they unify their projects in service of one holistic brand that maintains the core fanbase connection.”
Firebird describes Yungblud as “a leading cultural figure for Gen Z”.
Firebird noted that his accomplishments include a multi-platinum EP, “critically acclaimed” albums, sold-out global arena tours, and a No.1 Sunday Times best-selling book entitled You Need to Exist.
He has collaborated with artists including Halsey, Machine Gun Kelly, Travis Barker, Imagine Dragons, Lil Yachty, Ozzy Osbourne, and more.Music Business Worldwide
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.musicbusinessworldwide.com ’
