Red Bull Radio and Red Bull Music Academy are set to close this year, it has been announced.
The drinks company’s musical venture launched in 1998 and continued to be an advocate for underground music for more than two decades. The consultancy and marketing firm Yadastar oversaw both operations.
The Red Bull Radio website states that their “network of choice broadcasters, influential artists, journalists, and alumni obsessively dig up interesting sounds for truly adventurous audiences.”
In a statement, it’s been announced that both companies have now “mutually agreed to part ways”. Sources told Resident Advisor that Red Bull Radio and the Music Academy will cease to exist in their current form on October 31.
“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,” they said.
“Red Bull will be moving away from a strongly centralised approach, will gradually phase out the existing structure and will implement a new setup which empowers existing Red Bull country teams and utilises local expertise.”
— Yadastar (@yadastar) April 3, 2019
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The statement goes on to say that the energy drinks company “will continue to explore new ways to support promising and cutting-edge artists wherever they may be.”
Yadastar have also shared a statement in which they thank Red Bull for their “integrity and dignity and belief”.
“You have changed the way we connect with music and will continue to shape the music landscape for decades to come,” they added.
You can read their full statement above.
Artists such as Flying Lotus, Nina Kraviz, Black Coffee, and many more have benefited from the programme.