DEAG Deutsche Entertainment AG
ots Ad hoc-Service: Dt. Entertainment AG <DE0005513907> DEAG and Richard Ogden establish international artiste management company in London
Berlin (ots Ad hoc-Service) -
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DEAG Entertainment and Richard Ogden today announced that they
have set up an international artiste management company with its head
office in London. The company will be named RICHARD OGDEN MANAGEMENT
Ltd. ("R.O.M.") and Richard Ogden will be Managing Director.Ogden, who from 1987 to 1993 was the worldwide manager of Paul and the late Linda McCartney, started in the music business in artiste management in the 1970's, managing The Motors, Bram Tchaikovsky and The Skids. Unusually amongst artiste managers Ogden also has wide-ranging record company experience with United Artists, Atlantic Records, Polygram, Polydor and most recently he became Senior Vice- President of Sony Music Europe, responsible since late 1993 for all of Sony Music's marketing and promotion activities throughout Europe. He has been closely associated with the development of record- breaking European album sellers like Mariah Carey, Celine Dion, Jamiroquai, Oasis and most recently Ricky Martin. Working beside Ogden in London will be another experienced artiste manager, Matthew Sztumpf, who in the 1980's represented Madness and Swing Out Sister before joining Ogden at Sony Music as "Director Tours and Events Europe" in 1993.
It has become obvious that there is a demand for a serious, professional artiste management company, particularly one with worldwide experience of managing artistes at the very highest level, coupled with intimate knowledge of how record companies really work. The intention is to build an artiste management company equipped to handle both established international artistes and a select group of developing artistes too. The company will have a special focus on Continental Europe from where more and more artistes singing in English and/or Spanish are expected to be breaking internationally.
The company aims to create together with DEAG a pan-European network of management offices with dedicated local executives in order to be able to turn local stars into international superstars. The plan is to announce the first step in this direction within a few weeks and opening a German office should not be too far in the future.
The remit of the company is the management and support of artistes in contract negotiations with record companies, producers, agents, promoters, media and commercial sponsors and the subsequent supervision of all aspects of their careers throughout the world. The rapid emergence of new sound carriers and the challenges from the dissemination of music, legally or otherwise via the Internet throws up a new set of challenges for artistes and makes it even more important they should have strong, experienced personal management behind them.
DEAG in turn is extending the value chain in its operations further upwards, improving its access to attractive international artistes. At the moment Richard Ogden is in negotiation with a select number of absolutely top-notch artistes and he is sure to conclude the first management contract within the next two months.
The first year of operations of R.O.M., which will be 45% owned by DEAG with Ogden and his team holding the remaining shares, will be characterised mainly by investments in creating a portfolio of international artistes, but by the end of 2002 the company expects to have negotiated a deal-volume of approximately DM 150 mil for the artistes under its management. DEAG is aiming to achieve a 30% annual return on the overall sales of the company in this sector, as a contribution to a further increase in the profitability of the Group as a whole."
This ad hoc announcement and further information can be accessed at www.deag.de/ir.
If you have any additional questions please contact: Dr. Martin Fabel, Tel. +49 (0) 30 810750.
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Original content of: DEAG Deutsche Entertainment AG, transmitted by news aktuell