JOINT VENTURE AGREEMENT BRINGS NE-YO’s COMPOUND ENTERTAINMENT TO ISLAND DEF JAM MUSIC GROUP
First new artist signed to Compound Entertainment is singer, songwriter, pianist Loren Allred
New York, NY, September 29, 2010 – Multi-platinum, 3-time Grammy Award-winning Def Jam recording artist Ne-Yo has entered into a joint venture agreement that will bring Compound Entertainment to the Island Def Jam Music Group, it was announced today by Antonio ‘L.A.’ Reid, Chairman, Island Def Jam Music Group.
The first artist signed to the Compound Entertainment joint venture is Loren Allred, an accomplished pianist, singer and songwriter based in Salt Lake City, whose debut album will be released early next year.
Under terms of the agreement, Ne-Yo – whose first three studio albums debuted at #1 on the Soundscan chart, Year Of The Gentleman (2008), Because Of You (2007), and In My Own Words (2006) – will continue as a core artist on the roster of Def Jam Recordings. His brand new fourth studio album, LIBRA SCALE is scheduled for November 23rd release. On October 5th, Ne-Yo will debut the album’s new single, “One In a Million” on ABC’s top-rated TV series, Dancing with the Stars.
“Ne-Yo is truly one of the greats, and it has been a privilege to work closely with him, from the early stages of his songwriting career through his extremely successful recording career,” said Mr. Reid. “He is a unique artist, not only crafting his own series of brilliantly produced albums, but also providing big songs and hit duets for many of today’s biggest stars. We fully anticipate this to be a very successful partnership.”
LIBRA SCALE is the much-anticipated follow-up to Ne-Yo’s RIAA platinum Year Of The Gentleman, which debuted at #1 on the Soundscan and UK national charts in September 2008. That album spun off a trio of consecutive RIAA platinum hits: “Closer” (#1 U.S. Dance, #1 UK), “Miss Independent” (#1 U.S. R&B, #1 UK R&B), and “Mad” (#5 U.S. R&B, #3 UK R&B).
Year Of The Gentleman generated a league-leading total of five Grammy nominations in 2009 – with “Miss Independent” winning for Best R&B Song (songwriters award) and Best Male R&B Vocal Performance. Year Of The Gentleman followed up Because Of You (May 2007), which won the Grammy Award for Best Contemporary R&B Album, and In My Own Words (February 2006) – both #1 debuts on the Billboard 200 and R&B Albums charts.
Ne-Yo founded The Compound Foundation which is committed to service at-risk and disadvantaged youth. The Compound Foundation sponsors performances, motivational speakers and mentorship opportunities with leaders and business people within the community.