Firebird Music Holdings has inked what they are calling a “transformational deal” with British music artist Yungblud which will bring together Yungblud’s core business of recorded music, touring, and other ventures behind a so-called “shared growth model.”
As part of this new model, Yungblud will contribute earnings from record music, tours, merchandise, clothing lines, brand deals, and more as part of a brand new business that is called YB Inc., and Firebird will invest “tens of millions of dollars” into the business.
According to Music Business World, a representative of Firebird describes the agreement an “industry first” and “a joint vision of long-term revenue growth across all projects”.
According to Bloomberg, Yungblud and Firebird will each own an equal number of shares of YB Inc..
Firebird’s Nat Zilkha said that the partnership “is the culmination of everything we’ve built since founding Firebird”.
“We now have the team, the infrastructure, the capital, the data and the results to help world class artists reimagine both their business and their relationship with their fans” he added. “We’re at the very beginning of an evolutionary moment for artists.”
“My goal since the beginning was to break down the wall, to empower the fluidity between artist, art and fan and this opportunity allows me to do that further, faster and stronger – the future feels limitless” Yungblud said in a statement. “From day one, YUNGBLUD has always been about the deep connection with people.
Before I even had a fanbase I wanted to find people who believed in a mutual idea. As things beautifully got bigger, I never deviated from that the fundamental concept.
“Everything I do will always be about an authentic communication with myself and others: to keep building a global community through love, a shared vision and by always putting the art and the message before the business. The Firebird team totally understand that and they have supported me in creating a tailor-made model specific to me as an artist.”
“It allows me to empower my artistic vision across all the different worlds I am building in music, in comics, in fashion as well as continuing to evolve the relationships I already have with my record label and others. Ultimately, this is the future. It’s where the industry is inevitably heading, there is no “formula” anymore and that’s fucking beautiful.
“It forces ‘the truth’ to be the main ingredient of what makes art or an artist great. My goal since the beginning was to break down the wall, to empower the fluidity between artist, art and fan and this opportunity allows me to do that further, faster and stronger – the future feels limitless. I’m excited!”
Firebird’s Nathan Hubbard added the following:
“As artists continue to expand beyond recorded music into other endeavors, we’ve created an ecosystem to empower all their creative passions along every stage of their career that both deepens fan engagement and drives significant collective revenue growth.
“Yungblud is a model example of the modern artist-entrepreneur who has thoughtfully and intentionally grown his fan communities across multiple sectors.
“This partnership infrastructure will allow Yungblud and other like-minded artists of the future to be their best creative and business selves as they unify their projects in service of one holistic brand that maintains the core fanbase connection.”
