Interscope Records
| Interscope Records | |
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| Parent company |
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| Founded | 1989 |
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| Country of origin | United States |
| Location | Santa Monica, California |
| Official website | interscope |
Interscope Records is an American record company. A division of Interscope Geffen A&M Records, its parent company is the Universal Music Group, a subsidiary of Vivendi S.A.
Interscope was founded in 1989 by Jimmy Iovine and Ted Field as a $20 million joint venture with Time Warner's Atlantic Records. At the time, it differed from most record companies by giving decision-making authority to its A&R staff, and allowing artists and producers complete creative control. It had its first hit records less than a year after it was founded and achieved profitability in 1993.
In 1992, Interscope acquired the exclusive rights to market and distribute the hardcore rap label Death Row. Albums by Death Row artists included rappers Tupac Shakur, Dr. Dre, and Snoop Dogg were at the center of the mid-'90s gangsta rap controversy. As a result, Time Warner severed ties with Interscope by selling its 50 percent stake back to Field and Iovine for $115 million in 1995. In 1996, 50% of the label was acquired by the MCA Music Entertainment Group for a reported $200 million.
Iovine served as chairman and CEO until May 2014. He was succeeded by John Janick.
Interscope is headquartered in Santa Monica, California. The label's best-selling artists include Eminem, U2 and Lady Gaga.
In 1989, Ted Field began to build Interscope Records as a division of his film company, Interscope Communications. To run it, he hired John McClain, who had played a central role in Janet Jackson's success at A&M Records, and Tom Whalley, who had been the head of A&R at Capitol Records. Separately, Iovine, who had produced records by U2, Bruce Springsteen, and John Lennon, among others, was trying to raise money to start a label. "I thought, 'Music is going to change,'" Iovine said in 1997. "'Young bands aren't going to be asking for me.' But I love working with the new thing. I always liked the part of the business that's the first time you hear something, and I knew I wasn't in that business anymore."
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