WESTBURY, N.Y.--(BUSINESS WIRE)--This past year was a challenge for Vibe Records (OTCBB: VBRE - News) as it finalized its merger to become a public entity and refined its business as a vertically integrated music and entertainment distribution company and a small, independent boutique artist record label delivering content to end users and resellers through advanced technology and a major national brick and mortar distributor.
Vibe Records is focused on musical development, talent and artistry and the utilization of cutting edge technology. While creating artistic success through its unique approach to cost and quality, Vibe Records will increase its revenues and profit centers by branding its business and its performers will capitalize on the merchandizing that will come as a result.
Tim Olphie, Chairman and CEO of Vibe Records, is building the label of the future, one that is both artist and consumer friendly. From Olphie’s perspective, the artists and the consumers are the two most important elements in achieving success in the music business but corporate greed is the virus that is dragging down the current system.
“It’s a fact that 66% of record buyers have said that they would buy more albums if they were less expensive,” said Olphie. “I’m offering artists a joint venture that allows us to reduce the price of the record by increasing the artists’ participation in the selling price. We also license the artists’ masters, but they own them. If you’re an artist, it’s a win-win every step of the way. We are pro-artist. It all goes back to me being a musician.”
Olphie understands both the artist side and the retail side of the business because of his diverse background. His career began when he played guitar in his group, “Gablin”, who won a battle of the bands contest judged by the late Harry Chapin. He then worked in retail managing a chain of ten Record World stores and then graduated to become the General Manager of SOUL/MCA. During his career, Olphie discovered the legendary, Spectrum City, which evolved into one of the greatest rap groups of all time, Public Enemy. Olphie went on to oversee the soundtrack to the gangster film, "Juice," featuring the late Tupac Shukur.
Olphie has signed over 20 artists to various major and independent record companies. During his days working as a record executive at Sony Music, Olphie worked on album campaigns for superstars Michael Jackson and Mariah Carey to name a few.
Vibe Records has a diversified roster featuring pop acts like J & Travis, country acts like the Baker Girls and R&B acts like Kristen Capolino and Katelyn Tarver and has developed outside relationships that allows it to provide nationwide promotion and publicity as well as distribution to every record store in the country and Canada through EMI Distribution.
“Unlike any other small independent label, Vibe Records has national distribution and takes care of the marketing, promotion, sales and distribution of every album we produce, in the same way that the big record labels have done in the past,” said Olphie. “Unlike the big labels, we are an artist development company that delivers our product at a fair price. This is a new concept called a 'hybrid' deal. We work project by project. We are not over extending ourselves with a huge catalog.”
Advising Vibe Records on financial matters and serving on the Board of Directors of Vibe Records is the former Vice Chairman and Chief Financial Officer of Wachovia Bank, Robert S. McCoy, Jr. Mr. McCoy served as Wachovia's chief financial officer prior to the bank's sale to Charlotte-based First Union in 2001 and retired from Wachovia in August 2003. He is also a former partner at Price Waterhouse and Member of the Board of HireDesk, Talent Technology, Website Pros, Inc., Krispy Kreme and MedCath Corporation. Speaking of Mr. McCoy, Vibe Records Chairman and CEO Tim Olphie said, “We can only grow stronger with the great advice and insight of an individual like Bob as we undertake the next stage in our growth. We look to respected leaders like Bob to help shorten our learning curve and to bring us knowledge built over decades of success in order to deliver on our pledge of corporate transparency and commitment to build shareholder value.”
For further information, visit www.viberecords.com
Statements contained in this press release that are not based upon current or historical fact are forward-looking in nature. Such forward-looking statements reflect the current views of management with respect to future events and are subject to certain risks, uncertainties, and assumptions. Should one or more of these risks or uncertainties materialize or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, or described pursuant to similar expressions.
Contact:
Vibe Records, Inc., Nevada
Investor Relations, 888-336-8423 (VIBE)
investorrelations@viberecords.com |
