Type Private Genre Pop, Dance, Teen Headquarters London, United Kingdom Parent organizations Tesco PLC, Sony Music | Industry Music & entertainment Products Music & entertainment Founded October 2010 | |
Founder Ryan Ashmore & Liam Webb Key people Duncan Bannatyne, Ryan Ashmore, Liam Webb | ||
Bannatyne Music is a record label that was originally known as RKA Records. It was first established in October 2010 by Ryan Ashmore and Liam Webb. The label is best known for Ashmore and Webb's appearance on the well known BBC TV Show Dragons Den.
Contents
Founding
RKA Records was set up in October 2010 by Ryan Ashmore and Liam Webb in Ryan's bedroom. The label began when Ashmore was on holiday in Spain. There he met current artist MarQ Figuli for the first time. When Ashmore returned, he consulted Webb and told him about the idea for the label. A couple of weeks later, they went to Germany to meet with Figuli to discuss a possible recording contract. Recording artist Chris Parham was visiting Fuguli for some songs in the home studio; Ashmore and Webb signed Figuli and Parham both to the label. The contracts were drawn up, and two weeks later, the pair flew back out to Germany again to close the deal with the two singers.
The company was formed on 5 November 2010 through Companies House. Ashmore held an 80% share in the company, and Webb held a 20% share. Throughout the year, Ashmore and Webb worked with Figuli and Parham on their debut albums and were slowly getting them ready to start the promotion stage.
Investment via the Dragons Den
Ashmore and Webb successfully gained investment from Duncan Bannatyne on the Dragon's Den. Bannatyne got a 79% share of the company in return for a £50,000 investment.
Renamed to Bannatyne Music
In 2012 RKA Records closed and was renamed to Bannatyne Music. Bannatyne Music's launch was covered in the NME.
Deal with Sony Music Entertainment and Gut Records
In 2013, the company was sold to Sony and Gut Entertainment Group (Sony Music Entertainment and Gut Records).