Virgin Records

Virgin Records was a record label owned by Universal Music Group. It was originally founded as a British independent record label in 1972 by entrepreneurs Richard Branson, Simon Draper, Nik Powell, and musician Tom Newman. It grew to be a worldwide success over time, with the success of platinum performers Paula Abdul, Janet Jackson, Devo, Tangerine Dream, Genesis, Phil Collins, OMD, the Human League, Culture Club, Simple Minds, Lenny Kravitz, the Sex Pistols, and Mike Oldfield among others, meaning that by the time it was sold, it was regarded as a major label, alongside other large international independents such as A&M and Island Records.

Virgin Records was sold to Thorn EMI in 1992. EMI was in turn taken over by Universal Music Group (UMG) in 2012 with UMG creating the Virgin EMI Records division. The Virgin Records name continues to be used by UMG in certain markets such as Germany and Japan.

Virgin Records America

Virgin Records America, Inc. was the company's North American operations founded in 1986. They are still active and headquartered in Hollywood, California, and operate under the Capitol Music Group imprint, now also owned by UMG, since 2012. The US operations have also taken on the name Virgin Records. A minor number of artists remain on Virgin Records America's roster, which is currently mostly occupied with European artists such as Bastille, Barbara Pravi, Circa Waves, Corinne Bailey Rae, Ella Eyre, Grizfolk, Walking on Cars, Seinabo Sey, and Prides; American artists include Knox Hamilton, L'Tric, Loren Gray, and Rise Against.

Virgin Classics

Virgin Classics was founded in 1988 as part of Virgin Records. Along with EMI Classics, it too was acquired by UMG in 2012 as part of the takeover of the EMI Group. But the terms of the European Commission's approval of the takeover required divestment of the two classical labels. Accordingly, both were sold in February the following year to Warner Music Group, and this transaction was approved by the European Union that May. Warner placed the Virgin Classics artist roster and catalogue in its Erato Records division, and the "Virgin Classics" name, along with "EMI Classics," disappeared.

History

Branson and Powell had initially run a small record shop called ''Virgin Records and Tapes'' on Notting Hill Gate, London, specializing in krautrock imports, and offering bean bags and free vegetarian food for the benefit of customers listening to the music on offer. The first real store was above a shoe shop at the Tottenham Court Road end of Oxford Street.

After making the shop into a success, they turned their business into a fully fledged record label. The name Virgin, according to Branson (in his autobiography), arose from Tessa Watts, a colleague of his, when they were brainstorming business ideas. She suggested Virgin – as they were all new to business – like "virgins". The original Virgin logo (known to fans as the "Gemini" or "Twins" logo) was designed by English artist and illustrator Roger Dean: a young naked woman in mirror image with a large long-tailed lizard and the word "Virgin" in Dean's familiar script. A variation on the logo was used for the spin-off Caroline Records label.

The first release on the label was the progressive rock album '' Tubular Bells'' by multi-instrumentalist Mike Oldfield, who was discovered by Tom Newman and brought to Simon Draper – who eventually persuaded Richard and Nik to present it as their first release
in 1973, produced by Tom Newman, for which the fledgling label garnered unprecedented acclaim. This was soon followed by some notable krautrock releases, including electronic breakthrough album ''Phaedra'' by Tangerine Dream (which went Top 20), and ''The Faust Tapes'' and ''Faust IV'' by Faust. ''The Faust Tapes'' album retailed for 49p (the price of a 7" single) and as a result allowed this relatively unknown band a massive audience as the album sold over 60,000 copies and also reached number 12 in the charts, though it was later redacted its spot on the grounds of the cover price. Other early albums include Gong's '' Flying Teapot (Radio Gnome Invisible, Pt. 1)'', which Daevid Allen has been quoted as having never been paid for.

The first single release for the label was Kevin Coyne's "Marlene" (b/w "Everybody Says"), taken from his album ''Marjory Razorblade'' and released in August 1973. Coyne was the second artist signed to the label after Oldfield.

Rebranding

Although Virgin was initially one of the key labels of English and European progressive rock, the 1977 signing of the Sex Pistols (who had already been signed and then dropped by both EMI and A&M) reinvented the label PM in a new-wave outpost, a move that plunged the record company into the mainstream of the punk rock era. Under the guidance of Tessa Watts, Virgin's Head of Publicity (and later, also Director of Production), the Pistols rocketed the label to success. Shortly afterwards, the Nottingham record shop was raided by police for having a window display of the Sex Pistols' album ''Never Mind the Bollocks, Here's the Sex Pistols'' in the window. Afterwards they signed other new wave groups: Public Image Ltd, Boxer, Culture Club, Fingerprintz, Gillan, Holly and the Italians, Human League (whose "Don't You Want Me" was the label's first chart-topping single, in 1981), Magazine, Skids, the Motors, Penetration, the Ruts, Shooting Star, Simple Minds, and XTC.

After modified versions of the twins label came the red, white and blue design introduced in 1975, which coincided with the height of punk and new wave. The current Virgin logo (known informally as "the scrawl") was created in 1978, commissioned by Simon Draper, then managing director of Virgin Records Limited. Brian Cooke of Cooke Key Associates commissioned a graphic designer to produce a stylised signature. The logo was first used on Mike Oldfield's '' Incantations'' album in 1978 and by the Virgin Records label exclusively until gradually other parts of the Virgin Group adopted it, including Virgin Atlantic, Virgin Mobile and Virgin Money.

Purchase by Thorn EMI

Virgin Records was sold by Branson to Thorn EMI in June 1992 for a reported US$1 billion (around £560 million), with a special non-competition clause that would prevent Branson from founding another recording company during the five years following the agreement (see the final paragraph in EU Merger Decision IV/M202 of 27 April 1992). It now faces competition from Branson's new label: V2 Records. Branson sold Virgin Records to fund Virgin Atlantic which at that time was coming under intense anti-competitive pressure from British Airways. (In 1993 BA settled a libel action brought by Branson over BA's " dirty tricks" campaign, giving him £500,000 and a further £110,000 to his airline).

After being acquired by Thorn EMI, Virgin launched several subsidiaries like Realworld Records, Innocent Records, blues speciality label Point Blank Records, and indie music label Hut Recordings, and continued signing new and established artists like Korn, A Fine Frenzy, Thirty Seconds to Mars, Tina Turner, Beenie Man, The Rolling Stones, Spice Girls, The Smashing Pumpkins, We Are Scientists, The Kooks, dcTalk (mainstream releases, contract ended in 2000), Belinda Carlisle, Meat Loaf, Placebo, Janet Jackson (contract ended in 2006), Daft Punk (contract ended in 2008), My Favorite Highway, Does It Offend You, Yeah?, The Future Sound of London, The Chemical Brothers, Brooke Allison