Warner Music has acquired a stake in Serbian record company Mascom Records. The two companies plan to build a roster of local artists together, some of whom may be "up-streamed" to the major's global network of labels.
The new deal builds on an existing partnership between Warner and Mascom, with the latter having long worked as the former's local distributor in the region. Mascom has also utilised the services of Warner's ADA distribution division, and that part of the relationship will also continue.
The new partnership is already in effect, with Warner and Mascom together working on the latest releases from notable Serbian TikToker Sergej Pajic, those being the tracks ‘Kabul’ and ‘Mia Bella’.
Commenting on the expanded partnership with Mascom, Warner Music South East Europe GM Izabela Ciszek-Podziemska says: “This is a landmark development within the South East Europe region. By investing in Mascom we’ll have the infrastructure and a team of local experts on the ground to discover great new talent, while we can tap into Warner Music’s fantastic global network to give artists the opportunity to become global superstars. Sergej is a great example of someone we hope to see on the global stage soon".
Mascom CEO Slobodan Nesovic adds: “We’re delighted that Warner Music has made this investment into our company. We’ve enjoyed a great relationship over the years and this next stage of our partnership will allow local Serbian artists to join a major record label and enjoy worldwide success. It’s an exciting time for our company and the Serbian music industry".