View source for V2 Records

{{Short description|British record label}}
{{More citations needed|date=February 2025}}
{{Use dmy dates|date=November 2020}}
{{Infobox record label
| bgcolor  = #f42520
| name        = {{color|White|V2 Records}}
| image       = [[File:V2 Records Logo new 2022.png|150px|center]]
| distributor = [[Virgin Music Group]]
| parent      = [[Universal Music Group]]
| founded     = 1996
| founder     = [[Richard Branson]]
| status      = 
| genre       = Various
| country     = [[United Kingdom]]
| location    = 32 1211 GN Hilversum
The Netherlands
| url         = {{url|http://v2benelux.com}}
}}

'''V2 Records''' (or '''V2 Music''' and '''V2 Benelux'''; V2 being an abbreviation for '''Virgin 2''') is a [[record label]] that was purchased by [[Universal Music Group]] in 2007, sold to [[PIAS Group|PIAS]] in 2013<ref name=":0">{{Cite web|url=http://www.musicweek.com/news/read/confirmed-universal-sells-co-op/053773|title=Confirmed: Universal sells Co-Op - and racks up £530m from EMI asset sales {{!}} News {{!}} Music Week|website=[[Music Week]]|archive-url=https://web.archive.org/web/20130302075754/http://www.musicweek.com/news/read/confirmed-universal-sells-co-op/053773|archive-date=2013-03-02|url-status=|access-date=2018-12-09}}</ref> and partially acquired by Universal in 2022 (as part of larger PIAS 49% equity acquisition).<ref name=":1">{{cite web | url=https://www.musicbusinessworldwide.com/universal-acquires-49-stake-in-independent-music-powerhouse-pias | title=Universal acquires 49% stake in independent music powerhouse &#91;PIAS&#93; | date=30 November 2022 }}</ref> In 2024, Universal acquired the remaining 51% of PIAS that it did not already own.<ref>{{cite web|url=https://www.musicbusinessworldwide.com/universal-music-group-completes-acquisition-of-pias/|title=Universal Music Group completes 100% acquisition of [PIAS] Group|date=15 October 2024}}</ref> In [[Benelux]], V2 would operate separately from PIAS from 2013 to 2022, since the label was bought from Universal in 2007, henceforth Universal Music Group fully owns V2.

==History==
The label was founded in 1996 by [[Richard Branson]], five years after he sold [[Virgin Records]] to [[EMI]]. V2 management was led by the same individuals that built Branson's balloon and the control position was held by a Canadian public corporation.{{Citation needed|date=August 2022}} The company was restructured after running into financial difficulties with Branson taking control and reinventing the brand.

The label was owned 95% by [[Morgan Stanley]], the chief [[financier]] of the company, and 5% by Branson.{{When|date=August 2022}} Over the years V2 acquired [[Gee Street Records]], [[Junior Boy's Own]], [[Blue Dog Records]], and [[Big Cat Records]]. The label also distributed many labels, such as [[Wichita Records|Wichita]], [[Fania Records|Fania]], [[Luaka Bop]], [[City Slang]] and [[Modular Recordings|Modular]]. [[Stereophonics]] were the first band to sign to the label.<ref>{{cite web|url=https://www.youtube.com/watch?v=aCaWL00d73w|title=Kelly Jones on the history of Stereophonics|date=27 October 2010 |via=YouTube|access-date=2014-08-13|archive-url=https://web.archive.org/web/20140523100809/http://www.youtube.com/watch?v=aCaWL00d73w|archive-date=23 May 2014|url-status=live}}</ref>

V2 now operates in [[Australia]], [[Belgium]], [[Canada]], [[France]], [[Germany]], [[Italy]], [[Greece]], [[Netherlands]], [[Spain]], [[Ireland]], [[Sweden]], the [[United Kingdom]], and the [[United States]].{{Citation needed|date=April 2011}} It was distributed in the US by [[Bertelsmann Music Group|BMG]]; however it left for [[Warner Music Group|WEA]] shortly after the formation of [[Sony BMG]]. Its headquarters were located at 14 East 4th Street in [[Manhattan]], the former US home of [[Island Records]], which was in the same building as the former [[Greenwich Village]] branch of [[Tower Records (music retailer)|Tower Records]].

In April 2005, '''[[Cooperative Music]]''' was set up by the '''V2 Music Group''' as a transnational marketing and distribution operation which licenses independent labels, as opposed to individual artist companies which is the standard industry practice, for release in Europe, Australia and Japan. This in-house licensing division has an exclusive international marketing team with representation in the UK, Ireland, France, Germany, Italy, Spain, Holland, Belgium, Sweden, Norway, Denmark, Australia and Japan.

In May 2006, much of V2's catalogue, including multi-[[platinum disc|platinum]] artists [[Moby]] and [[The White Stripes]], was added to [[eMusic]], making the label one of the most high-profile featured on the online music site, which mostly sells [[Digital rights management|DRM]]-free independent music at a cost considerably lower than many of its competitors.

In August 2007, V2 Music Group was sold for £7 million to [[Universal Music Group]].<ref>{{cite web|url=http://www.universalmusic.com/corporate/detail/488|title=Universal Music Group announces intent to acquire V2 Music Group, Ltd|publisher=Universal Music|location=London, England|date=10 August 2007|access-date=13 November 2012|archive-url=https://web.archive.org/web/20130126044727/http://universalmusic.com/corporate/detail/488|archive-date=26 January 2013|url-status=live}}</ref> Subsequently, in October 2007, UMG partnered the US operations of its independent distribution arm [[Fontana Distribution]], known as Fontana International, with London-based [[Cooperative Music]] of V2 Music. The intent was to enhance expansion through international agreements, and so independent labels from Europe under Cooperative Music would gain access to the independent American marketplace through [[Fontana Distribution|Fontana International]]'s diverse connections in independent marketing, promotion and distribution support. Cooperative Music has had significant success with various acts such as [[Fleet Foxes]], [[Phoenix (French band)|Phoenix]] and [[The Black Keys]].

In 2013, [PIAS] has acquired Cooperative Music (including V2) from Universal Music Group.<ref name=":0" /><ref>{{Cite web|url=http://www.musicweek.com/news/read/pias-buyout-of-co-op-cleared-by-ec-regulators/054100|title=[PIAS] buyout of Co-Op cleared by EC regulators|website=[[Music Week]]|archive-url=https://web.archive.org/web/20130704180912/http://www.musicweek.com/news/read/pias-buyout-of-co-op-cleared-by-ec-regulators/054100|archive-date=2013-07-04|url-status=|access-date=2018-12-09}}</ref>

In November 2022, [[Universal Music Group]] purchased a 49% stake in [PIAS] (including V2).<ref name=":1" />

=== V2 Benelux ===
'''V2 Benelux''' was founded by Richard Branson in 1997 as part of the V2 International group with affiliates in USA, UK, Scandinavia, Germany, France, Italy and Benelux. In February 2007 the directors of V2 Benelux, Chris Boog and Tom Willinck, rounded off a successful management buy out together with their distributor, '''Bertus Distribution''' <ref>{{cite web |title=V2 Benelux, a short introduction |url=http://www.v2benelux.com/about.php |url-status=live |archive-url=https://web.archive.org/web/20110423150758/http://www.v2benelux.com/about.php |archive-date=23 April 2011 |access-date=5 April 2011 |publisher=V2 Benelux}}</ref> part of the Artone Group. The Artone Group consists of V2 Records Benelux, Bertus Distribution, Townsend Music and Record Industry. V2 Records Benelux has offices in Netherlands, France, Germany and Belgium.

=== V2 North America ===
In 2006 Branson sold '''V2 North America''' to '''Sheridan Square Entertainment LLC''' (SSE)<ref>{{cite web |date=23 November 2005 |title=V2 North America and Sheridan Square Entertainment Form New Company |url=http://www.prnewswire.com/news-releases/v2-north-america-and-sheridan-square-entertainment-form-new-company-55714312.html |url-status=live |archive-url=https://web.archive.org/web/20121013190701/http://www.prnewswire.com/news-releases/v2-north-america-and-sheridan-square-entertainment-form-new-company-55714312.html |archive-date=13 October 2012 |access-date=5 April 2011 |publisher=PR Newswire}}</ref> for $15 million. SSE then merged its label '''[[Artemis Records]]''' into V2 North America. The new label was effectively divested from the [[Virgin Group]]. Sheridan Square was later acquired by IndieBlu, which itself was acquired by [[Entertainment One]].<ref name="billboard-1">{{cite magazine |author=Chris Walsh |date=29 April 2010 |title=E1 Acquires IndieBlu |url=http://www.billboard.biz/bbbiz/content_display/industry/news/e3i5a1636af3715b03b2c9b7accdbc8ad69 |url-status=dead |archive-url=https://web.archive.org/web/20120929212204/http://www.billboard.biz/bbbiz/content_display/industry/news/e3i5a1636af3715b03b2c9b7accdbc8ad69 |archive-date=29 September 2012 |access-date=16 November 2012 |magazine=Billboard}}</ref>

On 12 January 2007, V2 North America announced that it was undergoing restructuring to focus on its back catalogue and digital distribution.<ref>{{cite magazine |date=12 January 2007 |title=V2 Restructured, White Stripes, Moby Become Free Agents |url=http://www.billboard.com/articles/news/1063253/v2-restructured-white-stripes-moby-become-free-agents |url-status=live |archive-url=https://web.archive.org/web/20160118172327/http://www.billboard.com/articles/news/1063253/v2-restructured-white-stripes-moby-become-free-agents |archive-date=18 January 2016 |access-date=5 April 2011 |magazine=billboard}}</ref> As a result, their employees were let go and their roster of artists left as free agents.

==See also==
* [[List of record labels]]

==References==
{{Reflist}}

==External links==
* {{Official website|http://www.v2benelux.com}}
* [http://cooperativemusic.com/ Cooperative Music]

{{Virgin Group}}
{{Universal Music Group}}
{{Authority control}}

[[Category:V2 Records| Tango Records ]]
[[Category:British record labels]]
[[Category:Record labels established in 1996]]
[[Category:Rock record labels]]
[[Category:Hip-hop record labels]]
[[Category:Electronic music record labels]]
[[Category:IFPI members]]
[[Category:2007 mergers and acquisitions]]