Patrick Moxey: 'I'm completely reinvigorated.' (The MBW Podcast)

<p>On this episode of the Music Business Worldwide Podcast (supported by <a href='https://www.volymusic.com/'>Voly Music</a>), we speak to a legendary entrepreneur in the world of dance and electronic music: <b>Patrick Moxey</b>.<br/><br/>Moxey hit the headlines last week after <b>Sony Music</b> confirmed it had acquired 100% of the famed record label he founded, <b>Ultra Records</b>.<br/><br/>According to Moxey, Sony acquired <b>50%</b> of <b>Ultra Records</b> via a partnership deal in 2013, and has now acquired the remaining <b>50%</b> stake – from <b>Moxey</b> himself – to take full control.<br/><br/>As such, <b>Moxey</b> is walking away from <b>Ultra Records</b>, the label he founded way back in the mid-nineties, after more than 25 years. (Ultra&apos;s history really is a who&apos;s who of dance music: the label has released music by everyone from <b>Steve Aoki</b> to<b> Roger Sanchez, Kygo, Deadmau5, Benny Benassi </b>and many, many more.)<br/><br/>There are, though, big plans afoot: <b>Moxey </b>says he&apos;s readying the launch of a new independent record label, for which he has already employed 38 staff worldwide. <br/> <br/>Moxey has additionally maintained ownership of Ultra&apos;s sister publishing company, which he says has a portfolio of <b>35,000 </b>copyrights.<br/> <br/>On this podcast, <b>Patrick Moxey</b> – also the founder of hip-hop specialist <b>Payday Records</b> – discusses the reasons he decided to leave <b>Sony Music</b>, and explains why he believes the streaming-led modern music business is the perfect place to grow his new venture.<br/><br/>He also talks NFTs, and why he thinks they will be an increasingly meaningful piece of the music business as it heads into the web3 era: Moxey says Ultra recently worked with DJ NGHTMRE on an NFT drop that raised $1.3 million within three hours.<br/><br/>The <b>Music Business Worldwide Podcast</b> is supported by <a href='https://www.volymusic.com/'>Voly Music</a>, the new bespoke financial management platform for people in the music business.</p>