Rise Records bought out by BMG
BMG has acquired Rise Records in a multi-million dollar purchase, the Berlin based company announced in an official press release.
Craig Ericson founded the Oregon based label in 1991. Rise is home to groups such as Of Mice & Men, Issues, Memphis May Fire, PVRIS, and many others, as well as back catalog pieces from Sleeping With Sirens, Breathe Carolina, and Bleeding Through.
“I’m thrilled to work with BMG and I know Rise Records and its bands will benefit greatly from this new partnership,” Ericson said in the press release.
Despite the overall market dropping by three-and-a-half percent in 2014's final quarter, sales of hard-rock artists increased by eight percent.
“Rise Records is more than a record label. It is a cultural phenomenon which has harnessed digital media to create a genuine community,” offered Laurent Hubert, Creative & Marketing President at BMG.
BMG's announcement of the Rise Records purchase comes less than two weeks after news of Fearless Records reported $10 million sale to Concord Bicycle Music. Late last year, BMG Chrysalis US purchased Vagrant Records in a similar deal.
Financial details of the Rise Records purchase were not disclosed. Ericson and his staff will continue to run the label out of Portland, Oregon.
