Universal Music Group boss Lucian Grainge has revealed the intention to create a division of Capitol Records in the UK.
Speaking to Hits Daily Double, Grainge said that he wants to “create an arc” between Capitol in the US and in the UK.
He outlined plans to sign new artists to the label as well as providing internal resources “to give it a leg up and get it started.”
“EMI has a different meaning depending on which continent you are speaking about,” said Grainge.
“I'm learning this and trying to better understand it as we go along. The United States is about Capitol, and the UK and Europe are about EMI and Virgin.
“It is my ambition that we take advantage of the strengths that these identities have globally and geographically to where it can make the most difference,” he added.
“I also see a great opportunity for us to really create an arc between Capitol Records in the United States and in the UK. That will be done with new artists, and we may even add resources that we have internally into Capitol to give it a leg up and to get it started. Capitol Records, West Coast music, that's an important brand. It's also a big part of West Coast American culture, and is a focus of my strategy and my investment choices.”
Grainge reiterated his regret over losing Parlophone and the amount of divestments demanded by the European Commission in the UMG/EMI deal, but ultimately remained satisfied.