Sony buys full Ownership of ultra records; Patrick Moxey Exits, David Waxman Takes Over as President

It’s a big week for news about Sony Music Group.

Yesterday, the major announced that it had bought a stake in merch company Ceremony Of Roses, and is consequently re-organizing its global merch operation around that brand.

Today (January 20), MBW has learned that Sony Music has made another interesting acquisition.

The major has snapped up a remaining minority stake in famed dance label, Ultra Records. The move means that Sony Music now fully owns Ultra Records, following its acquisition of a controlling stake in the label in 2013.

When questioned by MBW, a Sony Music spokesperson confirmed that the major now owns 100% of Ultra Records, and that the firm’s founder, Patrick Moxey, has left the imprint.

Succeeding Moxey as President of Ultra Records is David Waxman.

For the last two decades, Waxman has played a key role at Ultra as the Head of A&R, where he’s delivered what Sony notes are “multiple platinum hit singles, award winning remixes, chart topping albums and helped develop superstar talent in electronic music”.

During his time with Ultra, Waxman has worked with artists including Alina Baraz, Armin van Buuren, Benny Benassi, Black Coffee, Carnage, Chelsea Cutler, Deadmau5, Deorro, Kaskade, Louis the Child, Steve Aoki, Pitbull, and Tiesto among many others.

In his new role, Waxman will oversee overall management and day-to-day operations of Ultra Records, and will be responsible for identifying and developing new artists and projects.

Based in New York, he will work closely with the labels and leadership team at Sony Music Entertainment to drive what SME says is “the continued growth of Ultra’s roster of current artists and back catalog around the world”.

Over a career of more than 25 years in the electronic music business, Waxman has served as what Ultra calls “a leading trend-spotter and talent developer responsible for breaking new artists”.

Waxman began his career in his teens as a New York City nightclub promoter and then manager at venues like The Palladium, The Tunnel and Limelight before becoming a prominent electronic music DJ, landing residencies nightclubs, including Twilo (NY), Liquid (Miami) and Crobar (NY, Chicago, and Miami).

During that time, he started reviewing music as a journalist for Mixmag and was promoted to an Editor for the magazine as well as A&R for their parent company, DMC.

Shortly after, he began the start of his long lasting tenure at Ultra.

Ultra Records was previously part of Patrick Moxey’s Ultra Music, which also comprises Ultra Publishing and Empire Artist Management. 

Ultra was launched in New York City in 1995 by former Polygram and Virgin Records executive Moxey.

Ultra’s first release was the single Lift Me Up by MK featuring Claire Rivers in 1996.

The company’s roster has featured the likes of Black Coffee, deadmau5, Benny Benassi, Calvin Harris, Kaskade, Wolfgang Gartner, Steve Aoki, The Bloody Beetroots, Lil Jon, Above & Beyond, Ferry Corsten, Axwell, Alex Gaudino, Congorock, Adrian Lux, Alexandra Stan, TOKiMONST

A, DJ Muggs, Zeds Dead and many more.

Ultra Music’s YouTube channel has reached over 25 million subscribers.

In January 2013, Ultra Music and Sony Music Entertainment announced a global strategic relationship covering A&R, distribution, international repertoire and more.

Under the agreement, Patrick Moxey was named President, Electronic Music, Sony Music Entertainment.