LOS ANGELES (CelebrityAccess MediaWire) — Two record industry vets have teamed to form a new indie label, Shangri-La Music and has signed its first artists, Duke Spirit, Neimo and Trevor Menear.
Co-founded by former Virgin & Warner exec Jeff Ayeroff and his business partner, Jon Rubin, the enterprise's key investor is billionaire Steve Bing who is reportedly looking to expand his entertainment portfolio into the music biz. Bing's Shangri-La Entertainment is the film production firm behind Martin Scorsese's Stones documentary "Shine a Light," among others.
The firm is hoping to provide boutique sensibilities to the business, focusing more on taking care of artists and finding creative opportunities for them rather than on the bottom line.
"It sounds perverse in this town," Rubin told the LA Times. "We want to do work we are proud of with artists we care about and actually want to spend time with."
They are following in Live Nation's footsteps and looking to offer so-called "360 deals" to their artists, helping the artist with merchandising and alternative revenue streams in addition to the traditional income from touring.
"While we don't supplant a manager, we have to think like one while also thinking like a record label," Ayeroff told the Times "We have a vested interest in developing a brand. It's the idea of helping someone create an aesthetic identity that's memorable, desirable, seductive." – CelebrityAccess Staff Writers