Red Bull will be closing and/or selling off its collection of owned music studios as part of a cutting back of the company's ties with the entertainment industry.
MBW has learned about the shutdowns via whistleblowers at the Austria-based company, who tell us that management at the firm on Monday (July 13) told staff that Red Bull would be "ending all music projects" and that, in addition to the studios news, "all Red Bull music events are cancelled".
Red Bull currently runs 11 studios in locations such as New York, Los Angeles, London, Berlin, Amsterdam, Auckland, Cape Town, Sao Paulo, Tokyo and Paris.
