The Red Bull Music Academy will shut down after 21 years, announced the company in a statement Wednesday 3 April. Red Bull, an unlikely patron of underground music since the launch of the Academy in 1998, said RBMA and Red Bull Radio would close on October 31 in a step to "settle the existing structure" and decentralize its activities in the creative industry. Yadastar, the marketing and consulting firm that cooperated with Red Bull to develop RBMA, said in a statement that the companies had "mutually agreed to participate".
RBMA has long been held up as a seemingly sustainable model for corporate partnership with artists. Actions including Flying Lotus, SOPHIE, Object and Nina Kraviz provided different degrees from a broad infrastructure that included international concerts and festivals as well as access to advanced equipment and studies. The funding model emulated some benefits of the traditional record label system without putting a premium on regular appeal, some argued, despite wariness in underground music of brand-tie-ins, especially considering Red Bull's great branding at dance events. RBMA also ran an editorial platform and long-running lecture series that presented talks with D & # 39; Angelo, Björk and many more alternative music figures. Red Bull will continue to operate a decentralized music arm, Red Bull Music, without Yadastar's involvement.
In a statement to Resident Advisor, Red Bull said:
After 20 years of supporting artists worldwide with his music program
In a world of rapid change, Red Bull will maintain its purpose
Creating a Global Platform to Promote Creativity ̵1; But It Changes
delivery means. Red Bull will move away from a strong one
centralized approach will gradually phase out the existing structure
and will implement a new setup that strengthens existing Red Bull
national team and exploit local expertise. Red Bull will continue
explore new ways to support promising and groundbreaking artists
wherever they may be.
Yadastar wrote on Twitter: