Sony Music UK CEO Nick Gatfield has said the future of the music business is looking “more positive than it has for a very long time,” as the label looks forward to a future of ‘international opportunities’ and investment in A&R.
Speaking at Sony’s annual showcase yesterday (Wednesday, September 10), the exec praised the label’s performance in the compilations market over the last year, global success from the likes of One Direction and ‘significant investment’ in new signings.
“Today is all about the future,” said Gatfield. “This business is gathering pace and we need to make sure our artists are part of that by relishing all the opportunities that technology presents.
“The opportunity is absolutely there for British music to continue to dominate the world stage - providing we invest in global A&R and our government provides a strong legal framework and tax incentives to protect and encourage the investment.”
After new leadership at Columbia, RCA and Epic plus the creation of the associated label group – over 60% of Sony’s current artist roster has been signed in the last two years. Key artists include Tom Odell, Kodaline and Laura Mvula.
“This has brought a whole new interest to our A&R strategy,” said Gatfield. “That significant investment has already started to bear fruit and we have an ongoing commitment to A&R and artist development.”
A new A&R Academy was also announced which you can read about in this week’s Music Week magazine.