10K Projects, the Los Angeles-based label founded by Elliot Grainge, has entered into a joint venture with Warner Music Group to become a standalone label within WMG. 10KP will bring its roster and team to the larger WMG umbrella.

10K magic: Grainge, son of Universal Music chairman/CEO Lucian Grainge, founded 10K Projects in 2016 under Universal's Capitol Music Group umbrella with a number of its projects distributed through Virgin Music. Its roster includes Trippie Redd, Iann Dior, Internet Money, 6ix9ine, Surfaces, Aitch, YTB Fatt, Sxmpra, Coin and more. 10K Projects also launched Ice Spice, who will continue to record for 10K Projects/Capitol Records and is outside of the WMG deal.

Terms of the deal were not disclosed, though Warner will reportedly own just over 50% of 10K Projects and Grainge will maintain nearly half of the company. Grainge remains as CEO of 10K Projects and will join WMG's global leadership team. He will continue to helm 10K with Co-Presidents Zach Friedman and Tony Talamo.

10K's Homemade Projects subsidiary, which Grainge brought into the fold in 2022 after striking a deal, encompasses an influencer management company and a merchandise operation.

What they're saying: "Joining Warner Music Group provides us with the backing, the collective expertise and vision to empower our artists and our employees on the next phase of our journey," Grainge said. "Max [Lousada] and Robert [Kyncl] have been making all the right moves to position WMG for the future in what I think is one of the most fertile and exciting growth periods for the global music business. They have also shown that they value the kind of independent spirit and commitment to artist development that has made 10K successful so far. I know I speak for Zach, Tony and the entire team when I say how excited we are to get started in our new home."