Virgin Records – UK
The Virgin brand is now a global one, it operates in one form or another in many Western countries but these days we know it as an airline first and foremost. It also operates dozens of diverse businesses around the world from motorbike taxis (Virgin Limobike) to space travel (Virgin Galactic).
What we’re are of course interested in though is the record label, the one small business that set Richard Branson on his road to commercial success. It was started way back in 1972 by Branson and friends Simon Draper and Nik Powell at a small premises on Notting Hill Gate in London. Their speciality to begin with was a strange imported German sound known as krautrock. The success of this venture resulted in the move to set up the Virgin record label and their first release, the now legendary Tubular Bells by Mike Oldfield was a successful 1973 production.
This was followed by a number of krautrock album releases before the signing in 1977 of none other than The Sex Pistols. Other well-known bands signed in the late 1970s include Culture Club, Human League and Simple Minds. During this period the company now settled on the final design of the now iconic Virgin logo.
The Virgin record label expanded remarkably quickly, and in a fashion that you would not expect to be able to do today. It started or acquired several other labels, Caroline Records, Front Line Records, Charisma Records and Dindisc to name a few. It also expanded into the United States and Canada under various different names. Notable artists recording under these labels included Ziggy Marley, Paula Abdul and Steve Winwood.
Richard Branson remained involved with Virgin Records for twenty years until, in 1992, the label was sold to Thorn EMI. By this time Branson had already embarked on other enterprises and his various court cases pitting Virgin Airways against British Airways needed money to sustain. The $1 billion sale price helped him on his way to a libel win over British Airways, netting him another million dollars or so in the process.
After Thorn EMI brought the label, it remained operating under the Virgin name, leading to a succession of major signings and successes but for our purposes, that’s where the story ends.