"Kanye was right all along" — Internet reacts as Lucian and Elliot Grainge are set to own roughly 37.6% of the US recorded music market

Elliot Grainge, the son of Universal Music Group CEO Lucian Grainge, is set to take over as CEO of the Atlantic Music Group. This development will give the father-son duo control of around 37.6% of the US recorded music market. Elliot Grainge will officially assume his role on October 1, 2024.

The announcement comes almost a week after Warner Music Group confirmed certain changes in the company, including the exit of Max Lousada, the CEO of Recorded Music for Warner Music Group. Lousada would serve as an advisor until January next year.

Craig Kallman, CEO and chairman of Atlantic Records, will start serving in an A&R-oriented role, and Julie Greenwald will become the new chairman of the Atlantic Music Group. Meanwhile, Warner Music Group would change its central global operations through distribution, marketing, the global catalog, and WMX.

As the news of Elliot Grainge's arrival at the Atlantic Music Group spread, netizens reacted in the comments section of a post shared by Kurrco on X. A user wrote:

"Kanye was right all along and that's why they cancelled him."

The comment referred to a recent report in which Kanye West shared screenshots of a conversation with his manager, John Monopoly. In the messages, John said that he was contacted by Julie Greenwald, saying that she had been fired and that the new head wouldn't pay any compensation for the two collaboration projects of Ye and Ty Dolla Sign, Vultures 1 and Vultures 2.

Similar reactions continued, with a few users showing support for Ye.

"Kanye knows something," a user wrote.

"Kanye always seeing the bigger picture," another user wrote.

Others shared different opinions about Elliot Grainge joining Atlanta Music Group.

"This is the nepotism I should have had," a user stated.

"This is fine," another user stated.

"So what does this mean for music??" a third user stated.

Users even stated that Kanye West predicted the changes before they became official.

"Ye knew," a reaction reads.

"Oh y'all just now seeing the sh*ts. Kanye and others have been telling us," another reaction reads.

"Kanye got his masters back cause he knew," a third reaction reads.

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Elliot Grainge confirms that there won't be any change in the working process for 10K Projects

The 30-year-old has gained recognition over the years as the CEO of the record label, 10K Projects, LLC. While he has been confirmed to join Atlantic Music Group in the same position, Billboard acquired a note he sent to the staff members of 10K on August 1, 2024, stating that the company's working process would remain the same.

Elliot Grainge added that the company would continue to bring more opportunities for the artists signed under them and continued:

"This new structure will give the 10K team and artists more visibility, more global exposure, and bigger opportunities across the Atlantic and WMG network."

He said at the time that although he was informing the staff about the changes, the announcement would remain confidential. He revealed that 10K, Atlantic Records, and 300 Elektra Entertainment will officially become part of Atlantic Music Group. Grainge further stated:

"Thank you from the bottom of my heart for all that you have done to make 10K Projects the incredible place it is today and for the future. I'm looking forward to our next chapter together."

Craig Kallman was serving as the CEO of Atlantic Records before Elliot Grainge joined. Craig was previously employed in companies such as CBS Records and Factory Records.