Virgin Records Ltd was a British independent record label founded by entrepreneurs Richard Branson, Simon Draper, Nik Powell, and Tom Newman in 1972. Virgin Records America, Inc. was the company’s North American operations founded in 1986. Branson and Powell started off with owning a record shop, the shop got quite famous as Branson and Powell started to offer bean bags and free vegetarian food to its customers who listened to the records they had on offer. After making it into a success, they turned their business into a record company. The name Virgin was Tessa Watts idea, a colleague of Richard Branson, when they were brainstorming business ideas. She suggested Virgin – as they were all new to business – like “virgins”
who owns it
The owner of virgin records is sir Richard Branson
what other media business is owns (vertical and horizontal integration)
Virgin group own all of the companies below. Virgin group is a collection of companies owned by Powell and Branon.
Travel, Tour Operator
Virgin Voyages49%Travel, Cruise line
The company’s mission statement
Virgin groups are trying to make decisions based on changing businesses for the better. Virgin are the best company and everyone should buy Virgin products.
“Don’t ever let anyone prevent you from dreaming. Imagination is one of our greatest gifts.”
Other smaller record companies (labels) it owns (also called subsidiaries)
Front line records
The company’s biggest stars
The genres of music the company publishes.
Virgin records publish various genres of music