The partners of one of rap’s biggest labels split Tuesday, with Profile Records’ president Cory Robbins selling his interest in the company to Steve Plotnicki, chairman of distribution affiliate Landmark.
Plotnicki becomes president of New York-based Profile, effective immediately. Burt Goldstein, a key player in the distribution operation, will also remain with the company.
Robbins said Tuesday that he will be a consultant during the transition and then start his own record label after an extended vacation.
Terms of the deal were not disclosed, but include Profile’s U.K. operations, Landmark Distributors, and several music publishing companies. Founded in 1981, Profile boasts such artists as Run-D.M.C., DJ Quik, Rob Base, Special Ed and 2nd II None.
“The new Profile will soon spin off at least one if not two startup labels,” Plotnicki said. “We will expand the A&R base beyond the rap genre. You will see us having a more aggressive marketing and promotions approach.”
The company will also expand its release schedule, estimated by Plotnicki to be in the mid-teens, by five to eight albums per year. No layoffs or personnel changes are anticipated, Plotnicki said, although the company will re-orient some people’s jobs.
Plotnicki also said that Profile was entertaining some acquisitions of smaller labels and distributors, but did not elaborate.
Robbins said his plans for a new record company were still uncertain. However , if he does partner with an outside company, it would be a major label that would allow him to expand his scope.
“Obviously, Profile is a lot of my personal taste,” Robbins said, “but the biggest frustration I had here is not being able to successfully release other kinds of music besides rap, dance and reggae. I hope to do so in the future, but it’s an expensive game to be in, and not easily accomplished without a major (label).”