Billboard.biz announced today that independent EDM label Ultra Music and the ever expanding Ultra Music Festival will be combining to form what is being called a ‘global alliance’. This new mega-electronic brand will be looking to offer a ‘wide array of premium products, services and content including festivals/live events, record label services, film/video productions, live streams, original online TV programming and more’.
Ultra Music president Patrick Moxey anticipates that this power merger will help develop new innovations to ‘bridge the gap between the live experience and the recorded music experience around electronic dance music’. CEO and UMF founder Russell Faibisch notes that ‘together with our existing businesses and the expansion that each of us is undertaking, we believe the Ultra brand offers something that absolutely no other edm brand can’.
In a time where many corporate entities are looking to cash in on the EDM explosion, Faibisch is hoping that this union will help â€œstrengthen one anotherâ€ and preserve the independent spirit of the electronic scene.
Read the entire article here. Curious to see what everyone else thinks about this endeavor – comments welcome!