Maverick (company)

Maverick
Entertainment management
Entertainment
IndustryMusic, Film, Entertainment
Founded1992 (original company)
2014 (management group)
FounderMadonna
Frederick DeMann
Veronica "Ronnie" Dashev (1992)
Guy Oseary (2014)
HeadquartersBeverly Hills, California, United States
Key people
Guy Oseary (CEO, Founder)
Greg Thompson (President)
Gee Roberson
Shawn Gee
Cortez Bryant
Larry Rudolph
Adam Leber
Scott Rodger
Clarence Spalding
Wassim “Sal” Slaiby
Lee Anne Callahan-Longo
Kevin “Chief” Zaruk
Seth England
ProductsManagement, Music, Entertainment, Film, Television program, Music Video
WebsiteMaverick.com

Maverick was an entertainment company founded in 1992 by Madonna, Frederick DeMann and Veronica "Ronnie" Dashev. It was owned and operated by Warner Music Group. It included a recording company (Maverick Records), a film production company (Maverick Films), book publishing, music publishing, Latin record division (Maverick Musica) and a television production company. The first releases for the company were Madonna's 1992 coffee table publication, Sex and her studio album Erotica which were released simultaneously to great controversy.[citation needed]

DeMann was bought out of the company for a reported $20 million in 1998. Guy Oseary increased his stake in the company and took control as Chairman and CEO. Madonna and Dashev left in 2004 after a lawsuit between Maverick and Warner Music Group.

In 2014, the company was revived as a management group founded by Oseary in partnership with Live Nation Entertainment. The company rebranded as "Maverick" on October 17, 2014. Currently as of 2018, Maverick consists of Oseary, President Greg Thompson and other recording artist managers Larry Rudolph, Adam Leber, Gee Roberson, Shawn Gee, Cortez Bryant, Scott Rodger, Clarence Spalding, Wassim “Sal” Slaiby, Lee Anne Callahan-Longo, Kevin “Chief” Zaruk and Seth England.[1]

Maverick Records

Maverick Records was launched in April 1992 as a unit of the Maverick entertainment company. It was a joint venture between Madonna, Frederick DeMann, Veronica "Ronnie" Dashev and Time Warner.[2] The name is combined from the names of three of the founders; Madonna, Veronica and Frederick. The company had divisions for recording, music publishing, television, film, merchandising and book-publishing. The venture was part of a $60 million recording and business deal between Madonna and Time Warner . It gave her 20% royalties from the music proceedings, one of the highest rates in the industry, equalled at that time only by Michael Jackson's royalty rate established a year earlier with Sony.[2]

At the time of its launch. the company was bi-coastal; having offices in both New York City and Los Angeles. The record company division of Maverick also consisted of sub-label, Maverick Musica (a Miami, Florida-based satellite label focusing on Latin-American music) and Maverick Music Publishing. The first releases for the company were Madonna's 1992 coffee table publication, Sex and her studio album Erotica which were released simultaneously to great controversy.[3]

Commercial success

Platinum record (middle) for Madonna's 2001 greatest hits album, GHV2, released by Maverick Records.

Maverick's first commercial success was with the self-titled debut album by Seattle-based grunge band Candlebox. Released in 1993, the album would be RIAA-certified quadruple platinum in the United States. The following year, the label signed Canadian musician Alanis Morissette, whose third album (and Maverick debut) Jagged Little Pill was released in 1995, and would be eventually certified 16x platinum in the U.S. (with international sales of $33 million)–making it the best selling album in the label's history, and of the 1990s.

DeMann was bought out of the company for a reported $20 million in 1998, after which Guy Oseary increased his stake in the company and took control as chairman and CEO.

Throughout the 1990s to the middle 2000s, Maverick would also release albums by Erasure, Michelle Branch, Meshell Ndegeocello, U.N.V., Dana Dane, N-Phase, Dalvin DeGrate, The Prodigy, Cleopatra, Tyler Hilton, Muse, Summercamp, No Authority and William Orbit. "I'm happy with Maverick as a label," observed The Prodigy's Liam Howlett. "They respect their bands; even the ones who aren't selling."[4]

Litigation and decline

By the early 2000s, Maverick saw its commercial fortunes decline and business operations financially unravel. In March 2004, the label and Madonna filed suit against Warner Music Group (and its former parent company, Time Warner), claiming that mismanagement of resources and poor bookkeeping had cost the company millions of dollars. Warner filed a countersuit, alleging that Maverick had lost tens of millions of dollars on its own.[5][6][7]

On June 14, 2004, the dispute was resolved when Maverick shares owned by Madonna and Dashev were purchased — which effectively exiled the two of them from the company, as it then became a wholly owned subsidiary of Warner Music Group. Then Maverick CEO Guy Oseary, meanwhile, retained his position until WMG purchased his label shares in 2006.[6] The same year, the band Lillix, which at the time was signed to the label, claimed that the Maverick label no longer existed and that all the artists were now handled by Warner Bros. directly. In 2007 the record company folded.[1]

Two of the label's most successful artists, Alanis Morissette and Michelle Branch, left in the late 2000s. Branch left in 2007 after disbanding The Wreckers, while Morissette left in 2009 after the release of Flavors of Entanglement. Madonna's recording contract remained with Warner Bros. Records under a separate agreement until 2009.[citation needed]

In 2010, Maverick Records brought teenage file-sharer, Whitney Harper, to court and won the case. Harper was ordered to pay $750 per song for the three dozen uploaded on the Internet.[8] The case is known as Harper v. Maverick Recording Co..[9]

In 2011, Maverick Records co-released Greyson Chance's debut album Hold On 'til the Night, but other than that the label has remained in dormancy.[citation needed]

Recording artists

Other Languages
Bahasa Indonesia: Maverick