Universal Music Group has formed a joint venture with Silver Lake-backed investment firm WTSL, which was founded by Patrick Whitesell (pictured).
According to the announcement, the JV will “unlock opportunities that extend music’s value across film, television, fashion, consumer products, branded experiences, and other emerging growth areas”.
The new venture will accelerate commercial opportunities for UMG’s artists and artist estates in rapidly growing areas outside traditional recorded music and music publishing.
Marking WTSL’s public debut, the JV is billed as a “powerful opportunity” to evolve how music-based IP is developed and scaled.
“Combining UMG’s and WTSL’s strategic expertise and networks, the two companies will capitalise on how cultural influence is leveraged, making artists and their music the foundation for building scalable, multidimensional businesses that connect with audiences in new and lasting ways,” added the statement.
The JV will enable additional opportunities for UMG’s artists and catalogues in film, television, fashion, consumer products, brand collaboration and brand creation, and other intellectual property (IP) ventures. This will provide an infrastructure to build long-term enterprises, “expanding from one-off licensing into owned, repeatable, and equity-driven ventures rooted in creative identity”.
We exist at the centre of a vibrant ecosystem of partners from the worlds of technology, brands, retailers and media who recognise the power of our artists to shape culture globally
Sir Lucian Grainge
“This is about building the future of artist IP with the scale and ambition it deserves,” said Patrick Whitesell. “Universal Music Group represents the most powerful collection of music and artists anywhere in the world. Together, we’ll explore new ways to extend that cultural force into every dimension of entertainment and consumer life – creating lasting business value while keeping music at the centre.”
Sir Lucian Grainge, chairman and CEO of UMG, said: “We exist at the centre of a vibrant ecosystem of partners from the worlds of technology, brands, retailers and media who recognise the power of our artists to shape culture globally. With this new venture we will be able to leverage Patrick’s deep experience in successfully creating non-traditional business models with world-class IP to accelerate the expansion and monetisation of our ecosystem to the benefit of our artists and partners.”
As co-founder of WME and now founder of WTSL, Patrick Whitesell works with creators on ownership, production and brand expansion. His work spans live events, media and creator-led ventures.
“This joint venture reflects that same philosophy, applied to music,” the statement continued. “It’s built to give artists the same tools and structure to turn creative equity into long-term enterprise that’s anchored by music and designed for multi-format growth.”
PHOTO: Amy Sussman/Getty
FOLLOW 
