Following the formation of the Interscope Capitol Labels Group out west, Republic co-founder Monte Lipman announced a new hub with Def Jam, Island and Mercury.
Department heads in promotion and communications at Interscope and Def Jam are among those who have been let go.
Noah Kahan presented the label of the year award to the label leaders.
The R&B artist’s team is currently in talks with multiple majors, including Republic Records, Atlantic Records and Warner Records, sources say.
Massive releases from Taylor Swift and Morgan Wallen propelled Republic to a huge current market share ahead of Interscope, while Warner and RCA saw impressive gains.
Plus, the label claims the entire top six, repeating its own record.
Thanks to Taylor Swift, Drake & Morgan Wallen, it’s the first time the chart’s top six, or even top five, albums have all been released by the same label in the past 60 years.
The award is named in honor of the legendary executive who died in April at age 80.
Morgan Wallen and Taylor Swift drive Republic to a lead of almost four percentage points over No. 2 Interscope Geffen A&M.
Elsewhere, both Capitol Music Group and Warner Records jumped ahead, while Sony had a big first half showing from its Latin and Nashville divisions.
