Victory Records has launched a new website.
Ed Christman, writing for Billboard:
Terms of the deal weren’t disclosed, but Billboard estimates that the Victory company had $4.5 million-$5 million a year in revenue and further estimates that Concord paid somewhere in the range of $27 million-$34 million for the Victory company. […]
The Victory catalog will go under Concord’s Craft Recordings catalog team and “to the extent that we put out new albums from existing artists, Fearless is the most likely home” to market such albums, Salm says.
Meanwhile, Victory’s 30-person staff will remain employed by Brummel, who sources say has a “limited” non-compete clause that will allow him to pursue opportunities in the music business going forward, if he so chooses. The staff will work on Brummel’s other businesses which includes a third-party merch business, plus some real estate and other investments. Also, they will be involved in assisting with on-boarding Victory’s catalog and royalty payments onto Concord’s platform over the next few months.
Victory Records and Streetlight Manifesto have amicably settled the litigation filed by Victory in the U.S. District Court in Illinois. After a long and successful run, the parties agreed that it was in their mutual best interests to end the 15 year relationship. As part of the settlement, Victory agreed to sell Streetlight Manifesto all of their master recordings for an undisclosed sum resolving claims that were asserted in the lawsuit. No further comment will be made by either party.
Victory Records has issued a statement on their current lawsuit with A Day To Remember after frontman Jeremy McKinnon spoke with Kerrang. It can be found below. I warn you, it’s hard not to read it in Donald Trump’s voice.