Red Bull Music Academy and its accompanying radio station are to close down, the company announced on Wednesday. Red Bull has become an important, if unlikely, part of the underground music scene since starting RBMA in 1998 and said in a statement that its decision is part of a move to "decentralize its operations in the creative industry."
Both RBMA and Red Bull Radio will close on October 31. Yadastar, the marketing and consultancy company that partnered with Red Bull to run both entities, said that the companies had “mutually agreed to part ways.”
In a statement to Resident Advisor, Red Bull said: "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. Red Bull will be moving away from a strongly centralized approach, will gradually phase out the existing structure and will implement a new setup which empowers existing Red Bull country teams and utilizes local expertise. Red Bull will continue to explore new ways to support promising and cutting-edge artists wherever they may be."
Yadastar said via Twitter
RBMA has hosted events across the world consisting of lectures, workshops, parties, and live concerts, while also running a daily online music publication.
Red Bull Music, which is not linked to Yadastar will continue, but will be operated by Red Bull in specific territories. Red Bull Music Festival is set to take place in New York at the end of April and will feature performances from FKA twigs, Tierra Whack, Rosalía, and more.
It is unknown how many jobs will be lost. Red Bull did not immediately respond when approached by The FADER.