Published Apr 03, 2019After 21 years of operations, Red Bull has announced plans to shut down both its Red Bull Music Academy and Red Bull Radio later this year.
Both entities will officially close on October 31 following a split with consultancy company Yadastar, which oversaw the creative and curatorial aspects of each program. Red Bull will continue to be involved in music, however, operating as Red Bull Music in specific territories.
In a statement shared through social media, Yadastar confirmed that the companies "mutually agreed to part ways at the end of October 2019."
Resident Advisor reports that employees of RBMA and Red Bull Radio were informed of the decision last week. Of the changes, Red Bull provided the following the statement to the site:
After 20 years of supporting artists worldwide with its music program in a rapidly changing world, Red Bull will maintain its purpose of providing a global platform to promote creativity — but it is changing the means of delivery. Red Bull will be moving away from a strongly centralized approach, will gradually phase out the existing structure and will implement a new setup which empowers existing Red Bull country teams and utilizes local expertise. Red Bull will continue to explore new ways to support promising and cutting-edge artists wherever they may be.
Founded in 1998, Red Bull Music Academy hosted lectures, workshops, parties and concerts in cultural centres around the globe. The company held inaugural Red Bull Music Festival events in Toronto and Montreal last year, while the Red Bull Music Academy's Bass Camp event just took place in Calgary in March.