Music company BMG has acquired US indie rock label Rise Records in a multi-million dollar deal. Rise Records is home to critically acclaimed artists including Memphis May Fire, Of Mice & Men, and The Devil Wears Prada. The transaction marks the fourth such acquisition in the past year for BMG, following its purchases of US Vagrant Records, UK Infectious Records and Union Square Music, helping it to become the fifth largest record company in the UK.
Rise Records was established by Craig Ericson in 1991, who will continue to operate Rise Records from the United States, with BMG handling all other aspects of the business and providing Rise’s artists with access to a wider international market. Rise has embraced the changing nature of the music industry, boasting a popular online presence. President of Creative & Marketing at BMG Chrysalis US described Rise as a “cultural phenomenon” and praised the community it established in light of its focus on digital media.
BMG represents the rights to approximately 2.5 million songs and recordings and has been quick to acquire catalogues of music labels, including Chrysalis and Virgin. BMG CEO Hartwig Masuch believes BMG stands to gain from future acquisitions, stating that the company expects to make “two or three” further acquisitions before the summer and commenting that every acquisition made by the company to date has substantially outperformed its expectations.
