Music firm Ostereo has announced a restructure that will see an increased focus on its label and publishing divisions, and an accompanying move away from artist management.
It says in a statement that, as a result of the restructure, "the company will now place more investment into ... artist projects signed to its record label" as well as pursuing "more opportunities to sign new talent".
And, on the publishing side, it promises "a boost in support whereby writers, producers and composers will benefit from increased resources, investment and a focus placed on this area".
Meanwhile, "as a consequence of the restructure, the management division will be rolled up, with Ostereo supporting its roster through this transition".
Says CEO Howard Murphy: “It’s an exciting time for the business and its recording and publishing divisions. We’re seeing exponential success in the UK and Europe as well as key territories including India, Indonesia, South Korea and the Philippines”.
“Our restructure”, he adds, “positions Ostereo so it can more effectively service this higher demand by expanding its investment, team and infrastructure in coming months".