In February, Robert Kyncl – CEO of Warner Music Group – confirmed that WMG was in active discussions to sell its ‘owned and operated’ media properties UPROXX and HipHopDX.
Now we know who their new owners are.
UPROXX founder and CEO Jarret Myer, along with media veteran Rich Antoniello (Founder and former CEO of Complex Networks) and artist/entrepreneur, will.i.am, have formed a new company called UPROXX Studios.
This new company has emerged via their strategic acquisition of UPROXX, HipHopDX, DimeMagazine, and other media assets from Warner Music Group (WMG).
Antoniello joins UPROXX Studios as a Partner and Executive Chairman, while will.i.am joins UPROXX Studios as Partner/Investor.
UPROXX, an influential media brand focused on youth culture, was acquired by Warner Music Group in 2018.
HipHopDX, another influential digital media outlet that focuses on hip-hop news, reviews and commentary, was acquired by WMG in 2020.
The new independent company combining these platforms, UPROXX Studios, says that it reaches a combined 170 million-plus monthly US visitors and generates over 12 billion monthly US video views across its media assets.
The creation of UPROXX Studios also includes the exclusive license to represent WMG’s YouTube inventory for all media sales in the United States.
In a statement issued on Wednesday (April 24), Maria Weaver, President of Warner Music Group’s WMX, said: “We’re pleased to return Uproxx to a team led by the brand’s founder Jarret Myer, along with other vibrant brands including HipHopDX.”
“We’re pleased to return Uproxx to a team led by the brand’s founder Jarret Myer, along with other vibrant brands including HipHopDX.”
Maria Weaver, WMX
Added Weaver: “UPROXX Studios was the natural choice for WMG’s US YouTube inventory.
“They’ve a proven track record with our content, and their newly independent company presents a good opportunity for advertisers.”
According to UPROXX Studios, the new company will also integrate will.i.am’s FYI AI technology and FYI radio into its operations.
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”.
UPROXX says that this tech will “forge new pathways in content creation, advertising, publishing and audience consumption and distribution”.
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”.
“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.
“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.”
“Able to now focus solely on the media company, UPROXX Studios is now positioned to unleash the explosive potential of its combined assets fully.”
Jarret Myer
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.
“We’re doubling down on growth. Expect significant investments in our brands, team, and the experiences we offer – both creators and audiences alike.”
Myer added: “Through its partnership with FYI, UPROXX Studios embraces pioneering technology and also signals its commitment to fostering creativity and pushing the limits of digital expression.”
“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.”
Rich Antoniello
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.
“This is the recipe for groundbreaking content and unparalleled brand experiences.”
News of WMG’s planned divestment of HipHopDx and UPROXX arrived 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 and HipHopDX.
Elsewhere, Warner is shutting down the social meme platform IMGN plus podcast brand Interval Presents, as the company looks to exit its “owned and operated” media properties.
Kyncl told his staff in February that Warner’s owned media brands like UPROXX and HipHopDX “operate outside our core responsibilities to our roster”.Music Business Worldwide
