Platinum Entertainment was an American record label that operated in the 1990s. The company was founded by Steve Devick in 1991, who reorganized his River North Studios recording studio into a record label. The company initially sold primarily gospel music, but diversified into other genres, primarily by signing older but still active acts instead of developing new artists. In 1994, Platinum acquired Diadem, a label active in the

Christian music industry The Christian music industry is one aspect of the broader music industry, with a focus on Christian music and subgenres such as gospel music, southern gospel, contemporary Christian music, contemporary worship music, and even traditional church mus ...

, and purchased

Intersound Records Intersound Records was an American independent record label that operated in the 1980s and 1990s. The company was founded by industry veteran Don Johnson in 1982, who purchased some assets of Pickwick Records from its parent company and named his ...

in 1996. By 1997, the company's revenue was estimated to be $130 million annually. However, by the turn of the century Platinum had begun to lose money—its first quarter financial report in 2000 showed that the company had lost $3.9 million in the quarter and had just $3,000 in cash. The company closed its distribution subsidiary in June, but was nevertheless forced to declare bankruptcy in July, with liabilities of $52.1 million against assets of $15.7 million. Martin Tudor, a former Intersound executive, reorganized some Platinum assets into a new label named

Compendia Music Group Compendia Music Group was an American record label and distributor that operated in the early 2000s. Compendia was formed in late 2001 by Marty Tudor from the assets of the bankrupt label Platinum Entertainment. It was based in Nashville, Tennesse ...

References

{{Authority control American record labels Record labels established in 1991 Record labels disestablished in 2000