September 2019
Vol 6 | Issue 247

Q&A with Russell Rieger, CHNL Music


Principal Series:

CHNL Music is a unique fund dedicated to rolling up independent labels in the music industry. The company consists of a unique pairing of record label executives, roll-up experts and Wall Street, banking executives to provide a breath of expertise, access, innovation, operational skills and all-important relationships within the industry. With a targeted roll-up of independent record labels, we will systematically incorporate all three asset classes (publishing, labels and management) that encapsulates all potential revenue streams within the ecosystem of the music industry.

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What is the potential growth market size of the music industry

The latest analysis from Goldman Sachs finds the potential growth of the music industry to reach $131B by 2030 (up from ~$20B currently), driven primarily by the explosion of streaming services. Subscriptions to these services now exceed $176m users with revenue accounting for nearly half of the overall market. The US market alone will be a $10B market in 2020, the first time that has happened since 2007.

What is the vision of the company being created

Create a new dominant company in the marketplace by executing a roll-up of independent record labels that capitalizes on the explosion of revenue growth within the music industry while executing on operational efficiencies for margin savings (~5%). Independent record labels make up nearly 40% of the global market and are where most of the superstar artists (Taylor Swift, Adele) are discovered.

Why is this team unique

We purposefully assembled the best combination of respected and trusted music executives who have in-depth access, operational expertise and insight into the business as well as long-standing relationship capital with all major independent label operators. Coupled with traditional Wall Street and finance perspectives to ensure risk mitigation and proper due diligence. Additionally, on the tech side, we bring important and missing technology solutions to the roll-up for distribution, social media marketing, data ingesting and mining and blockchain as well as synergistic partnerships for operational efficiencies.

Russell Rieger, CHNL Music

Russell Rieger Bio:
Russell Rieger has enjoyed a distinct and prosperous career of senior executive roles in the music, media, branding and technology businesses. A Grammy-nominated record executive, he is an experienced key opinion leader (KOL) and one of the top business technologists in media bringing the unique perspective of having worked in both Hollywood and Wall Street.
Currently Mr. Rieger holds the position of Co-CEO of CHNL, Inc., a mobile TV company based in New York and a WeWorks Labs EIR. Prior to CHNL, Mr. Rieger held a number of high-profile jobs including heading the media division at Magna, a family office; VP of Strategy for the SPAC, MI Acquisitions; and principal Founder at Pipeline LLC, an entertainment branding and marketing company based in Los Angeles.
Before his career in the mobile and tech world Mr. Rieger served as both General Manager and EVP at Madonna’s highly celebrated artist-run label Maverick Records. There, he was instrumental in building the label into a freestanding record company with over 100 employees and worked on the formidable careers for multi-platinum artists as well as executive producing movie soundtracks, including blockbuster film franchises The Matrix.
Prior to his work with Maverick, Mr. Rieger was the General Manager of London Records, launching the UK record company in the US with marquee gold and platinum acts.
He began his career as a manager, managing several seminal artists. Mr. Rieger is a New York native and resides there after living in Los Angeles for over a dozen years.
Contact Russell