Ostereo has announced it is restructuring to focus its investment and infrastructure on master and publishing rights, in turn revealing that its management division will be “rolled up”.
In October 2019, Ostereo launched its fledgling management division, having acquired a roster of 14 artists, writers and producers.
The “step back from activity as a management company” by Ostereo, they say, will allow them to place more investment into its artist projects signed to its record label, as well as allowing more opportunities to sign new talent.
The move comes as Ostereo claim they are seeing “significant growth from its artists and partners in developing music markets worldwide” and are preparing for a string of original release campaigns.
Our restructure positions Ostereo so it can more effectively service higher demand by expanding its investment, team and infrastructure in coming months
Howard Murphy
Ostereo says it will be supporting its roster through this transition. It also stressed that opportunities will arise from this, as they are looking to actively recruit to expand its team into these new core areas in the coming months.
The publishing arm of the company, Ostereo says, will also see "a boost in support whereby writers, producers and composers will benefit from increased resources, investment and a focus placed on this area." Ostereo will continue to develop further events. Earlier in May, Ostereo teamed up with Warner Chappell Music to host the inaugural Song Circle songwriting camp.
Speaking about the changes, Howard Murphy, founder & CEO of Ostereo, commented: “It’s an exciting time for the business and its recording and publishing divisions. We’re seeing exponential success in the UK and Europe as well as key territories including India, Indonesia, South Korea and the Philippines. Our restructure positions Ostereo so it can more effectively service this higher demand by expanding its investment, team and infrastructure in coming months.”
(Photo, L-R: Ramin Bostan (COO of Ostereo), Howard Murphy (Founder & CEO of Ostereo) & Nick Kirkby (CFO of Ostereo)
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