Label Executives Announce Restructuring and Downsizing

The Board of Directors has conducted a strategic review of the label, and has determined that it is in the best interest of the label’s shareholders to undergo a strategic restructuring that will have major implications for artists and fans.

With more than 50 artists signed within the last year representing over 35 releases that have accrued more than 150K streams, the label has undergone unprecedented growth, but that has not come without unavoidable financial challenges, which is why the label has decided to part ways with 90% of its current roster and shift its’ existing marketing assets to cost-effective Non-Fungible Tokens (NFT) mechanisms. The label will also move to a self-service model for its' existing artists to provide its’ roster with greater autonomy over the marketing and distribution of their releases.

The label will continue to maintain and pay out the royalty balances for all currently released records, but will suspend its’ administrative and recruitment operations immediately. Lastly, the label’s founder Jonathan Sherman will step down from the role of Chief Executive Officer (CEO) and Rick Bacchus will be the label’s acting CEO until further notice.

For questions or inquiries regarding the label’s restructuring process, please email return.records.music@gmail.com.