{"id":199741,"date":"2024-04-24T14:55:14","date_gmt":"2024-04-24T13:55:14","guid":{"rendered":"https:\/\/www.musicbusinessworldwide.com\/?p=199741"},"modified":"2024-04-24T14:59:11","modified_gmt":"2024-04-24T13:59:11","slug":"warner-sells-uproxx-hiphopdx-and-other-media-assets-to-uproxx-founder-and-ceo-jarret-myer1","status":"publish","type":"post","link":"https:\/\/www.musicbusinessworldwide.com\/warner-sells-uproxx-hiphopdx-and-other-media-assets-to-uproxx-founder-and-ceo-jarret-myer1\/","title":{"rendered":"Warner Music Group sells Uproxx, HipHopDX and other media assets to Uproxx Founder and CEO Jarret Myer"},"content":{"rendered":"

In February, Robert Kyncl<\/a><\/strong>\u00a0\u2013 CEO of\u00a0Warner Music Group<\/a><\/strong>\u00a0\u2013\u00a0confirmed<\/a>\u00a0that\u00a0WMG<\/strong> was in active discussions to sell its \u2018owned and operated\u2019 media properties UPROXX\u00a0and\u00a0HipHopDX.<\/strong><\/p>\n

Now we know who their new owners are.<\/p>\n

UPROXX founder and CEO Jarret Myer, along with media veteran Rich Antoniello<\/strong> (Founder and former CEO of Complex Networks) and artist\/entrepreneur, will.i.am<\/strong>, have formed a new company called UPROXX Studios.<\/strong><\/p>\n

This new company has emerged via their strategic acquisition of UPROXX<\/strong>, HipHopDX<\/strong>, Dime<\/strong> Magazine<\/strong>, and other media assets from Warner Music Group<\/strong> (WMG).<\/p>\n

Antoniello joins UPROXX Studios as a Partner and Executive Chairman, while will.i.am joins UPROXX Studios as Partner\/Investor.<\/p>\n

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UPROXX, an influential media brand focused on youth culture, was acquired<\/a> by Warner Music Group in 2018.<\/p>\n

HipHopDX<\/a>, another influential digital media outlet that focuses on hip-hop news, reviews and commentary, was acquired<\/a> by WMG in 2020.<\/p>\n

The new independent company combining these platforms, UPROXX Studios<\/strong>, says that it reaches a combined 170 million<\/strong>-plus monthly US visitors and generates over 12 billion<\/strong> monthly US video views across its media assets.<\/p>\n

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The creation of UPROXX Studios also includes the exclusive license to represent WMG\u2019s YouTube inventory for all media sales in the United States.<\/p>\n

In a statement issued on Wednesday (April 24), Maria Weaver, President of Warner Music Group’s WMX, said: “We\u2019re pleased to return Uproxx to a team led by the brand\u2019s founder Jarret Myer, along with other vibrant brands including HipHopDX.”<\/p>\n

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“We\u2019re pleased to return Uproxx to a team led by the brand\u2019s founder Jarret Myer, along with other vibrant brands including HipHopDX.”<\/p>\n

Maria Weaver, WMX<\/span><\/p><\/blockquote>\n

Added Weaver: “UPROXX Studios was the natural choice for WMG\u2019s US YouTube inventory.<\/p>\n

“They\u2019ve a proven track record with our content, and their newly independent company presents a good opportunity for advertisers.\u201d<\/p>\n

<\/div> <\/div> \n

According to UPROXX Studios, the new company will also integrate will.i.am\u2019s FYI AI technology<\/a> and FYI radio into its operations.<\/p>\n

This collaboration includes the creation of AI StoryLabs, described as “a specialized unit within UPROXX Studios that harnesses advanced conversational AI to transform brand communication”.<\/p>\n

UPROXX says that this tech will “forge new pathways in content creation, advertising, publishing and audience consumption and distribution”.<\/p>\n

Initial projects feature an AI-driven performance series, a customized radio format, and a technology show tailored for social media that demonstrates “the potential of AI in marketing”.<\/p>\n

“Innovation is in our DNA,” said will.i.am. “Our continuous pursuit of developing new mediums and platforms will re-shape the future of creative expression.<\/p>\n

“We are crafting products and experiences so groundbreaking that they compel the world of media to evolve alongside us. This is our mandate as pioneers of culture.\u201d<\/p>\n

“Able to now focus solely on the media company, UPROXX Studios is now positioned to unleash the explosive potential of its combined assets fully.”<\/p>\n

Jarret Myer<\/span><\/p><\/blockquote>\n

Jarret Myer said: “Able to now focus solely on the media company, UPROXX Studios is now positioned to unleash the explosive potential of its combined assets fully.<\/p>\n

“We’re doubling down on growth. Expect significant investments in our brands, team, and the experiences we offer \u2013 both creators and audiences alike.”<\/p>\n

Myer added: \u201cThrough its partnership with FYI, UPROXX Studios embraces pioneering technology and also signals its commitment to fostering creativity and pushing the limits of digital expression.”<\/p>\n

“This is a game-changer. We’re merging the agility and freedom of an independent entity with the reach and resources of a major music label.”<\/p>\n

Rich Antoniello<\/span><\/p><\/blockquote>\n

Rich Antoniello said: “This is a game-changer. We’re merging the agility and freedom of an independent entity with the reach and resources of a major music label.<\/p>\n

“This is the recipe for groundbreaking content and unparalleled brand experiences.”<\/p>\n

\n

News of WMG’s planned divestment of HipHopDx and UPROXX arrived<\/a> in February, as part of a confirmation of a planned 10% headcount reduction at WMG this year. WMG’s CEO Robert Kyncl confirmed on February 7 that Warner was seeking acquirers for UPROXX\u00a0and\u00a0HipHopDX.<\/p>\n

Elsewhere, Warner is shutting down the social meme platform\u00a0IMGN\u00a0plus podcast brand\u00a0Interval Presents,\u00a0as the company looks to exit its \u201cowned and operated\u201d media properties.<\/p>\n

Kyncl told his staff in February that Warner\u2019s owned media brands like UPROXX and HipHopDX \u201coperate outside our core responsibilities to our roster\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"

Rich Antoniello joins new company UPROXX Studios as Partner and Executive Chairman; will.i.am joins as Partner\/Investor<\/p>\n","protected":false},"author":15,"featured_media":199742,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[132159,4944,1796,2860],"class_list":["post-199741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-jarret-myer","tag-uproxx","tag-warner","tag-wmg"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/199741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/users\/15"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/comments?post=199741"}],"version-history":[{"count":0,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/posts\/199741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media\/199742"}],"wp:attachment":[{"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/media?parent=199741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/categories?post=199741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicbusinessworldwide.com\/wp-json\/wp\/v2\/tags?post=199741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}