Victor Musical Industries Completes Divestment, Paving the Way for Strategic Separation of Divisions
(Camden, New Jersey) July 11th, 2023 | Victor Musical Industries is pleased to announce the completion of the divestment of half of its consumer turntable unit - part of Victor's home entertainment/technology operations. Following the execution of a successful transaction involving Victor Musical Industries and Terra Firma-backed Talisman Inc., The Victor Company (VMI) will prioritize its stated journey towards the separation of its technology/home entertainment division and music/media divisions, record labels, and studios - birthing two separate companies beneath The Victor Company (VMI) for these newly separated operations.
Having previously operated all divisions beneath Victor Talking Machine Co., the incoming strategy shift of splitting the media and technology operations of the company into two halves - Victor Entertainment (music, media) and HMV (creative technology/home entertainment) - is designed to allow for a greater marketing focus to the public while being more in line with what modern consumers of these products and services typically associate given the relative marketing separation of media and technology brands in 2023.
The company shift marks historic steps forward from a firm and legacy that was one of the pioneers of not only the original music and home entertainment industries (with the invention and development of the record player and disc record in the 1800s in Camden, NJ) but also progress as modern pioneers of the now ubiquitous vinyl/turntable revival of the 2010s in which The Victor Company (VMI) were early pioneers, starting in 2011 with the acquisition of the 'Victrola®' and Victor brand portfolio & corporate entities.
The Victor Company (VMI) began to reorganize during the depths of the pandemic in 2021 with the goal of the reorganization being to expand the firm's pre-pandemic definition of the music and related entertainment technology industries, increasing product and service offerings while widening access to global markets with a more straightforward global brand and product strategy.
The HMV® brand by Victor Musical Industries Inc. will continue production of iconic product lines like the HMV Victrola® turntable series while expanding further into continuing the legacy of The Victor Company (VMI) with expansions into Camden legacy technology like televisions, computers, as well as newer creative technologies descended from the lineage of these innovations. Engineering of these products - and forays into AI research and development will continue through Victor Advanced Sound Technology Laboratory (VAST), Victor's in-house product research and development laboratory operations, while Victor Talking Machine Co. (Victor Entertainment Division) will continue operations of Victor's recording labels, studios, live entertainment properties and experiences, and more as the company hopes to continue its goal of building a beneficial music and home entertainment industry in the modern era.
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About Victor Musical Industries:
Victor Musical Industries (VMI) is a renowned leader in the music and home entertainment industries with a rich heritage dating back to the 1800s and the founding of the global media and music industries. Reestablished in 2011 under the leadership of arts/commerce focused independent leadership, the company returned to the Camden County/Philadelphia area where it maintains operations in marketing, product design, engineering, recording, production, and manufacturing related to its strategic vision of a community centric beneficial music and home entertainment industry.
For more information about Victor Musical Industries, please visit
www.victormusicalindustries.com (VMI Corporate)
www.victorentertainment.com (Victor Entertainment)
www.victorrecords.com (Victor Records Group)
www.hismastersvoice.com (HMV® Creative Technologies)
Media Contact:
Tracey Sutton
Public Relations Coordinator
NEMS® Public Relations Division of The Caroline Group | A VMI Company
Phone: 1-(844) 802-2557
Email: traceysutton@victorrecords.com
