ADA President Cat Kreidich Leaving Warner Music

Yahoo

4 days ago

Cat Kreidich, president of Warner Music Group's music distribution arm ADA, is leaving the company, she confirmed in an internal memo to staff on Tuesday.
Kreidich leaves after four years at the helm at ADA. WMG hasn't provided any details on Kreidich's successor. In a note to staff, WMG CEO Robert Kyncl said the company would have an update on ADA's leadership this week. In Kreidich's memo, reviewed by The Hollywood Reporter, she said that 'while I'm not ready to announce my next chapter, I look forward to sharing those plans when appropriate.'
More from The Hollywood Reporter
Universal Music Group Increasing Efforts on Music AI Patents
'Dolly: A True Original Musical' Preview Shows Are Now Playing in Nashville: Where to Get Sold-Out Tickets Online
Mariah Carey Confirms Release Date For 16th Album 'Here For it All'
'While organizational change is a constant in our industry, I believe the foundation we've established will continue to serve independent artists effectively,' Kreidich wrote in her memo. 'We built an exceptional global team and expanded our global release volume, revitalized our brand identity, and developed a digital platform specifically designed for independent artists and labels within the Warner supply chain. We made strategic acquisitions like RSDL, which Warner will go on to use to help fuel their entire recorded music business.'
Prior to ADA, Kreidich was an executive at The Orchard, Sony Music Group's distribution arm. During her tenure as ADA president, she'd closed distribution deals with Three Six Zero Recordings and Rostrum Records, as well as Kesha's famed distribution deal as the pop star decided to go independent.
'When I returned four years ago as an executive from The Orchard and Sony, I brought a vision to recapture that pioneering spirit and transform ADA to better compete in an increasingly crowded landscape of innovative music technology companies,' Kreidich wrote Tuesday. 'We didn't aspire to be the biggest distribution company, but rather the most valuable — valuable to our artist and label partners by offering expert guidance and measurable results, and valuable to Warner Music Group by helping build its ecosystem and reputation for supporting independent artists.'
Kreidich's departure comes as distribution companies have become an area of increased attention across the industry. Back in December, Universal Music Group's Virgin Music Group announced a deal to acquire Downtown Music Group Holdings, the parent company to music distributors FUGA and CD Baby. (That deal is currently facing regulatory scrutiny from EU authorities, Reuters reported.) Concord, meanwhile, closed on a deal for indie distributor Stem back in March.
Kreidich's departure is just the latest notable shift at WMG; earlier this month, Kyncl had announced a $300 million cost-saving initiative which included a $170 million cut through headcount reduction.
'Cat is a class act,' Kyncl wrote in his note Tuesday. 'A bold thinker and decisive leader, she's always focused on what's best for the indie community – its artists, its labels, and its spirit. Under her leadership, ADA has grown its relationships across the creative ecosystem, expanded its global reach, and strengthened its team and tech. She's helped guide us through some major shifts, staying agile, and delivering results.'
Read Kreidich's memo below:
To the ADA Team,
I wanted you to hear this news directly from me: After four transformative years proving that Warner Music Group and ADA can truly be the best home for independent artists and labels, I have made the decision to leave the company. While organizational change is a constant in our industry, I believe the foundation we've established will continue to serve independent artists effectively.
We built an exceptional global team and expanded our global release volume, revitalized our brand identity, and developed a digital platform specifically designed for independent artists and labels within the Warner supply chain. We made strategic acquisitions like RSDL, which Warner will go on to use to help fuel their entire recorded music business.
This journey represents my second chapter with ADA. My first began during the early years of digital transformation, when I transitioned from a music tech startup. Having completed one of the first of its kind 'New Media' degrees at Emerson College, I was drawn to the possibilities of digital disruption and the independent music scene. When I came across ADA in the '00s, it was supporting breaking independent acts at an unprecedented scale, pioneering new approaches while music was being democratized globally through emerging digital platforms like iTunes, eMusic, and mobile entertainment.
When I returned four years ago as an executive from The Orchard and Sony, I brought a vision to recapture that pioneering spirit and transform ADA to better compete in an increasingly crowded landscape of innovative music technology companies. We didn't aspire to be the biggest distribution company, but rather the most valuable—valuable to our artist and label partners by offering expert guidance and measurable results, and valuable to Warner Music Group by helping build its ecosystem and reputation for supporting independent artists. We believed that Warner Music Group and ADA were better together, each strengthening the other's capabilities and reach, and I think we've proven that out. As the company begins its next chapter, WMG is committed to continuing to expand the depth and range of ADA's services.
To the ADA labels and artists who keep the heart of this industry beating: thank you for your dedication, creativity, and passion. I've been inspired by your relentless drive and your vision. You champion creativity, and prove that independence doesn't mean going it alone—it means doing it your way. You are shaping the future of music, and I remain passionate about the independent music community and will continue to champion its growing importance.
While I'm not ready to announce my next chapter, I look forward to sharing those plans when appropriate — it will be consistent with the work I have been grateful to do for the last 20 years as an indie advocate.
With gratitude and appreciation,
CAT
Best of The Hollywood Reporter
How the Warner Brothers Got Their Film Business Started
Meet the World Builders: Hollywood's Top Physical Production Executives of 2023
Men in Blazers, Hollywood's Favorite Soccer Podcast, Aims for a Global Empire
Solve the daily Crossword