Steve Rifkind Signs New Three-Year Deal With Universal

Market share leader UMG continues to staff up with high-level executive signings. The latest: SRC's CEO.

On the heels of yesterday's announcement that Universal Republic's Monte and Avery Lipman had both re-signed new long-term contracts with UMG comes word that SRC Records CEO Steve Rifkind will also remain at Universal for the near future.  

"Yes, it's true I just signed with universal for another 3 years," Rifkind tweeted on January 5. "It's time that we get to work." 

A pioneer and seasoned tastemaker in the world of hip-hop, Rifkind started SRC (Street Records Corporation), which is distributed by Universal Motown, in 2002, the same year Sony shuttered Loud Records, the label he founded in 1992 that was home to Wu Tang Clan, Three 6 Mafia and Xzibit.

SRC saw a string of successes, including Akon's 2006 album Konvicted, which has sold over three million copies, and Asher Roth's 2009 single, "I Love College," which reached No. 12 on the Billboard Hot 100 and sold over a million downloads. Among the label's more recent signings is R&B singer, reality star and brother to Brandy, Ray J, whose new album Radiation 2, produced by Rodney Jerkins, is scheduled for release in February.