MCA corporate brass have given Al Teller, MCA Music Entertainment Group chairman, the seal of approval: a new long-term pact as an exec VP in MCA Inc.
“Al’s appointment as an executive vice president is a recognition of his superior performance in guiding and expanding the music entertainment group and the importance of music entertainment to our company,” said Sidney Sheinberg, president of MCA Inc. “Additionally, it recognizes Al’s role as a member of a core group of senior executives of the company. My colleagues and I all look forward to working with Al in maximizing the opportunities that the future presents.”
Teller, who assumed the presidency of MCA Records in 1989 before being elevated to chairman of the MCA Music Entertainment Group the following year, is widely credited with making the label a major player both in the U.S. and abroad. The exec veep stripes let Teller join a group of four senior level execs who help steer the corporate vessel.
While his existing contract still had plenty of time left, Teller’s new pact is said to extend his ties to MCA for an additional five years.
“I’m very grateful to Lew (Wasserman) and Sid for the tremendous support they’ve given the music entertainment group, as well as to me personally,” Teller said.
The label also recently announced record earnings, buoyed by its successes in country and black music. Its pop roster also added to the bottom line, spurred exponentially by the return of Meat Loaf with his multiplatinum comeback album, “Bat Out of Hell II: Back Into Hell.”
In addition to being credited with key signings of talent and producers — among them Meat Loaf — Teller also orchestrated the label’s association with Andre Harrell’s Uptown Entertainment, a deal that also extends into film and TV projects, and the acquisitions of Geffen Records and GRP, leaders in the rock and jazz genres, respectively.
Teller led the charge in the establishment of international outposts for the label, the first of which opened in 1990 in Japan and Germany. The company will open six more foreign labels next month, tapping into the $ 23 billion global marketplace with outposts in Belgium, France, Holland, Italy, Spain and Sweden.
The industry veteran also recently spearheaded the formation of an interactive division to explore business opportunities for the label in the burgeoning technologies of CD-ROM and other music delivery systems.
The division, led by Alex Melnyk, will develop music-driven projects through a combination of in-house creations and third-party pacts. It recently announced an investment in Interplay, a major computer software publishing house.