Universal Music Group (UMG) has entered into a joint venture with former Warner Bros Records CEO Todd Moscowitz, to launch a new label called Cold Heat Records.
The label, which is based in New York City, will begin operations immediately.
Sir Lucian Grainge, chairman and CEO of UMG, said: “At Universal Music, entrepreneurship is in our DNA so we constantly seek to attract the brightest executives in the business embodying that spirit. With his impressive track record of identifying and breaking some of the most successful artists in Hip Hop, Todd is a excellent addition to our team of creative executives who are committed to bringing the best new talent to fans around the world.”
Moscowitz: “Lucian, Boyd Muir and the management team at UMG have created an environment that encourages risk-taking and pushing creative boundaries, while giving entrepreneurs the resources and freedom to grow—and the results speak for themselves. I’m thrilled to be a part of the most forward-thinking team in the industry, and I’m looking forward to building Cold Heat Records into a pre-eminent destination for artists of all genres.”
Over the past 20 years, Moscowitz has built up a wealth of experience working with labels, most notably plying his trade with Warner Music Group where, in 2004, he became president of Asylum Records, developing burgeoning urban and hip-hop artists. Two years later he was named president (and subsequently CEO) of the company’s Independent Label Group, comprised of Asylum, East West Records and Cordless Recordings. Then, in 2009 he joined Warner Bros. Records, a year later taking on the title of CEO of the label.
