Elliot Grainge, 10K Projects Founder & CEO (son of Universal Music Group’s CEO Lucian Grainge) will become CEO of the newly formed Atlantic Music Group.
Grainge, 30, sent a note to the staff of the label he founded and signed Tekashi 69 and Ice Spice stating, “we don’t expect any changes to take place at 10K” and that the shift represents “business as usual.”
Earlier today (Aug. 1), the Warner Music Group announced a major executive shakeup. CEO of Recorded Music Max Lousada will exit the company at the end of September, and Grainge will move into the CEO role of Atlantic Music Group. Julie Greenwald, one of the stalwarts at Atlantic will move to chairman, and Craig Kallman will remain CEO of Atlantic Records.
10K — which started as an independent label in 2016 then had operated as label by itself when Grainge brought it to WMG last September — will become part of Atlantic Music Group, alongside 300 Elektra Entertainment.
“This new structure will give the 10K team and artists more visibility, more global exposure, and bigger opportunities across the Atlantic and WMG network,” Grainge wrote. He added that he would continue to work alongside 10K co-presidents Zach Friedman and Tony Talamo “to create opportunities for our amazing roster of artists.”
Originally affiliated with the Capitol Music Group, 10K moved to Warner in September, and Grainge joined WMG’s global leadership team. He’ll now helm one of the most historic and decorated label groups in recorded music history.
See the full letter below
Dear 10K Family,
This good news is confidential until the official announcement which will be issued shortly, but I wanted all of you to hear it from me first. I wanted to let you know that I have accepted the extraordinary opportunity to become CEO of Atlantic Music Group. As part of this change, in the coming weeks, 10K will officially join Atlantic Music Group, alongside Atlantic Records and 300 Elektra Entertainment. I am so happy that this new role allows me to continue to be able to work with Zach, Tony and all of you to create opportunities for our amazing roster of artists. This new structure will give the 10K team and artists more visibility, more global exposure, and bigger opportunities across the Atlantic and WMG network. We don’t expect any changes to take place at 10K. It’s business as usual moving forward, so I’m counting on your focus and dedication more than ever. Thank you from the bottom of my heart for all that you have done to make 10K Projects the incredible place it is today and for the future. I’m looking forward to our next chapter together.
Sincerely,
Elliot
