Didn’t see that one coming.
Victory Records (Broadside, For The Win, The Tossers) has been purchased by Concord Records (Billy Gibbons, DeVotchKa, Esperanza Spalding) for millions of dollars, according to Billboard.
The entertainment media brand wrote that Victory had made “$4.5 million-$5 million a year in revenue and further estimates that Concord paid somewhere in the range of $27 million-$34 million for the Victory company.” With the purchase of Victory, Concord now owns “500 masters and 3,500 compositions to add to the 16,000 albums and 390,000 compositions it now owns through past past acquisitions.” Concord also now owns the Victory name, bulldog logo, and the entire Another Victory Publishing catalog.
With the purchase of Victory, Concord now owns the rights to past and present Victory Records bands like Thursday, We Were Sharks, Aiden, The Bunny The Bear, and Silverstein.
Victory Records Founder Tony Brummel wrote in a statement, “Concord has a great team, infrastructure and the financial backing and support to do great things with the music and entertainment assets that they represent. Victory and Another Victory’s great catalog of music and songs will be in caring and fantastic hands going forward. We’ve had a great run and with Concord it will only continue.” This means that Victory Records might no longer release new music under that name.
Victory’s catalog will be working under Concord’s Craft Recordings, who own the back catalogs for artists and bands like AFI, Social Distortion, and former Victory Records band Taking Back Sunday, who are currently signed to Hopeless Records (Doll Skin, Hands Like Houses, ROAM). As for future releases, Concord’s chief business development officer Steve Salm said in a statement, “to the extent that we put out new albums from existing artists, Fearless [Records] is the most likely home [to market such albums].”
The Chicago label will still have their 30 employees employed by Brummel. “My team at Victory will be remaining intact as we embark, going forward, on our new and existing business journeys,” he said. A new name for the company has yet to be announced.
Brummel also told Billboard that he wasn’t shopping Victory around to other labels, but couldn’t refuse Concord’s amazing offer. “Doing the deal is going to give me the option to do other things, including possibly buying some smaller labels,” he said. “There are three things that I will invest in out of the box and they are all music related.” Victory currently owns several smaller labels like StandBy Records (It Comes In Waves, Next Year, Unimagined), We Are Triumphant Records (Cemetary Drive, Gold Route, Thief Club), and Mutant League Records (AM Taxi, Chief State, Wilmette).
Concord has also bought labels such as Fearless Records (Eat Your Heart Out, Pierce The Veil, Underoath), Fantasy Records (Andrew McMahon In The Wilderness, Prophets Of Rage, Switchfoot), Loma Vista Recordings (Andrew Bird, Denzel Curry, The Revivalists), and Rounder Records (Dervish, I’m With Her, Logan Ledger).
Punk Goes Prenatt 