Lately there have been a lot of strategic business moves in the world of electronic music. Just last week we learned about the inner workings of Live Nation, SFX Entertainment and Bob Sillerman. Now we have just learned that Ultra Music will be partnering with Sony Music Entertainment in a global venture. This new project will allow both companies to expand their brand around the world. The President of Ultra Music, Patrick Moxey, has been named President of Electronic Music, Sony Music Entertainment. According to the deal he will be reporting directly to Doug Morris the CEO of Sony Music Entertainment. Morris had this to say on the agreement: “We are excited to expand our presence in Electronic Dance Music through this new global partnership with Ultra Music. Patrick Moxey is a fantastic music executive and a proven hitmaker in this important genre.”
This will likely prove to be a very important partnership. It will allow for an increased globalization of EDM and some of the music’s most famous artists. Sony and Ultra will both work to promote each other’s artists and releases. The agreement should be a change for the better and will open up the world to electronic music in a way that otherwise might not be possible.