Image Credit: Matt Winkelmeyer/Getty Images
When Elliot Grainge took over as chairman and CEO of Atlantic Music Group in 2024, the music industry wasn’t sure what to expect. At just 30 years old, with only a year of major label experience, he was stepping into the shoes of Julie Greenwald, a veteran executive with a formidable track record. Add in the weight of his last name his father, Lucian Grainge, is the powerful chairman and CEO of Universal Music Group and the skepticism was palpable.
But one year later, Grainge is proving that his instincts for viral hits and digital culture can translate into major-label success. Speaking on Billboard’s new podcast On the Record, he opened up about the growing pains, breakthroughs, and big bets that have defined his first year at the helm.
From Indie Hustle to Major Label Power
Before Atlantic, Grainge made his name running 10K Projects, an independent label he founded that became synonymous with internet-driven breakout tracks. Ice Spice’s “In Ha Mood,” Surfaces’ “Sunday Best,” and Trippie Redd’s “Miss The Rage” were among the viral smashes that set him apart as someone who understood how music spread online.
That knack for spotting early momentum carried into the SoundCloud rap wave and the TikTok-driven pandemic era. By the time Warner Music Group acquired 51% of 10K in 2023, Grainge had proven himself as more than just an industry heir he was a disruptor in his own right.
Restructuring Atlantic for the Digital Era
Taking over Atlantic meant more than inheriting a catalog. It meant fixing a label whose market share had slipped from 9.16% at the end of 2021 to just 5.24% by mid-2024. Grainge responded with sweeping restructuring: layoffs, a leaner staff, and importing trusted 10K lieutenants like Zach Friedman (now COO) and Tony Talamo (general manager).
The moves were painful but effective. Atlantic’s share climbed to 7.75% by September 2025, boosted by 10K’s integration. New artist wins including Ravyn Lenae, Alex Warren, and The Marías signaled that the label wasn’t just stabilizing, but regaining momentum.
“We had to make very difficult decisions,” Grainge admitted on On the Record. “We invested back into the artists. That was really what we were able to do.”
Hits, Headliners, and a Recharged Roster
The past year has delivered chart success that silenced doubters. In just two weeks, Atlantic scored back-to-back No. 1 albums: Breach by Twenty One Pilots and Am I The Drama? by Cardi B. Singles like “APT.” by ROSÉ and Bruno Mars and “Azizam” by Ed Sheeran showcased Atlantic’s ability to balance global stars with developing talent.
Meanwhile, Clairo and Hilary Duff joined the label, adding depth to an increasingly eclectic roster. For Grainge, the strategy is less about chasing overnight virality and more about nurturing artists over time.
“I think good music, good songs, good artists are forever,” he said. “A song like Alex Warren’s ‘Ordinary’ that’s going to be at weddings and birthdays for decades.”
The Long Game: Patience and Artist Development
Grainge acknowledged that the pandemic warped the traditional path for new artists. With live shows disrupted, many acts blew up online without the live chops to sustain momentum. He sees the current moment as a correction: a return to patience and long-term artist development.
“It can take several years, and that’s okay,” he explained. “Not every artist is going to be a superstar. But if we sign them, we have a responsibility to be the greatest partners we can be.”
This philosophy, he argues, also extends to the so-called “middle tier” of artists acts who may never top the Billboard 200 but have loyal fanbases and staying power. “We look at that middle tier and think: maybe that act is middle tier today, but with the right partnership, could they be a superstar tomorrow?”
Respecting History While Driving Change
Atlantic’s story began in 1947 with Ahmet Ertegun, who built the label on entrepreneurial spirit and cultural disruption. Grainge sees his role not as reinventing the wheel, but carrying that spirit forward.
“I never viewed Atlantic as an old school brand,” he said. “I always viewed it as a storied, incredible label… When you marry that history and that entrepreneurial spirit, and obviously the greatest team, that’s when we start to see magic happen.”
The Takeaway: A Year That Reset Expectations
In twelve months, Elliot Grainge has transformed Atlantic from a label in decline into one with renewed momentum. He has bet on digital strategies, made hard staffing calls, and balanced viral hits with artist development.
The industry may still debate whether his early success is sustainable. But for now, Grainge has shifted the conversation. The 30-year-old executive once doubted for his age and surname is proving that his mantra “good music, good songs, good artists are forever” isn’t just a slogan. It’s a strategy.
