Five veteran U.K. music executives with decades of experience working with artists including U2, Ed Sheeran, and Dua Lipa have launched a new company called Breaking Wave, or BWG. The announcement was reported by Billboard.
The company was formed by Jeremy Marsh, Marc Marot, James Radice, Nick Stewart, and Beth Claridge. BWG will operate across four areas at once, functioning as a record label, music publisher, artist management company, and special projects firm.
In a press release, the founders described their goal as offering "a real alternative to the major label model that increasingly frustrates and forgets the needs of artists." They added: "In a world where major labels have impossibly large rosters, BWG is the opposite of that. The launch represents a return to hard won expertise and experience from a golden age of British record success, offering artists the time and attention they deserve."
BWG's first signed artists are 10cc, British singer-songwriter Rumer, and electronic duo Lemon Jelly. The company has already secured distribution deals with PIAS and Virgin Music Group.
Marsh will serve as chief operating officer. He previously held the role of managing director and president at Virgin, RCA, BMG, and Warner Music Group and played a key part in the careers of Dua Lipa, Ed Sheeran, and Take That. His most recent position was at Warner as vice chairman, executive vice president of international, and global chief marketing officer.
Marot takes the role of chief creative officer. As managing director of Island Records, he oversaw U2's career for 18 years, including the releases of Achtung Baby in 1990 and All That You Can't Leave Behind in 2000. During his time at Island, the label signed Tricky, Pulp, PJ Harvey, and Nine Inch Nails. After leaving, he ran a management company whose clients included Paul Oakenfold, Richard Ashcroft, and Yusuf Islam, also known as Cat Stevens.
Radice joins as chief legal officer. He previously served as senior vice president of legal and business affairs at Warner Music Group and has negotiated contracts with Pink Floyd, The Rolling Stones, and Coldplay.
Stewart, who signed U2 to Island Records in 1980, is named chairman of BWG. He has also worked with Sir Elton John, Blondie, and the Eagles across careers at Island, Polygram, Sony, BMG, and Warner Music.
Claridge rounds out the leadership team as general manager. Over the past two decades she has worked on campaigns for Stevie Wonder, the Eagles, and 50 Cent.
Marsh pointed to the question of time as central to the new company's identity. "We have the experience and we can offer the time," he said in a statement. "Nobody talks about giving an artist that. They tend to talk about the budget they have, they don't mention how much time they will dedicate to the artist."
