Lyrical Lemonade is not a traditional record label, but rather a multimedia company and creative agency founded by Cole Bennett in 2013. While it collaborates with record labels and artists, it primarily functions as a music promotion platform, video production company, and cultural brand.

The company's main focus is creating and distributing music videos, organizing events, and promoting emerging artists through its popular YouTube channel and website. Though Lyrical Lemonade works closely with many record labels and has significant influence in the hip-hop industry, it doesn't sign artists or handle traditional record label responsibilities like distributing music or managing royalties.

In 2023, Lyrical Lemonade expanded its business model by partnering with Universal Music Group to create Lyrical Lemonade Records. This joint venture allows the company to officially sign and develop artists while maintaining its established brand identity and creative direction.

Key aspects of Lyrical Lemonade's business include:

Music video production
Event organization
Artist promotion
Merchandise sales
Content creation
Brand partnerships

What sets Lyrical Lemonade apart from traditional record labels is its focus on visual content and brand building rather than traditional music industry operations. The company has become known for its distinctive music video style and has helped launch the careers of numerous artists through its platform.

Through its new partnership with Universal Music Group, Lyrical Lemonade now operates in both spaces - maintaining its original creative agency model while adding record label capabilities to its portfolio. This hybrid approach allows it to offer more comprehensive support to emerging artists while continuing its established marketing and promotion activities.

The bottom line is that while Lyrical Lemonade wasn't originally a record label, it has evolved to include label services through its partnership with Universal Music Group, making it both a creative agency and a record label in 2024.

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