Streaming playlist specialist X5 Music has promoted Stefan Enberg to the position of CEO, following the departure of its former boss and co-founder, Johan Lagerlöf.
Enberg, himself a co-founder of X5, steps up from his role as COO.
He will remain located in Stockholm and will report into Dirk Ewald, SVP, Global Catalogue Management, Warner Music.
Acquired by Warner Music Group in 2016, X5 Music specializes in compiling deep catalogue and specific genres of music to create playlists, streaming and download products.
The company also signs artists and repertoire that falls out of the scope of frontline labels, and commissions music for specialist playlists and releases.
Enberg said: “I’m proud to work on behalf of a diverse range of artists and songwriters to help give their music global impact with new fans. Today’s always-on streaming culture presents new opportunities to experiment and cater to a variety of musical tastes and attitudes, and I look forward to leading X5 through its next phase.”
Ewald says: “I’m so pleased that Stefan has agreed to lead X5, one of the most inventive and entrepreneurial digital music companies in the business. He and the team are experts at unearthing gems from the archives and commissioning left-field new music that really connects with people.”
Enberg began his career as a songwriter, who wrote hits for Markoolio, one of Sweden’s most popular artists.
He then branched out into production, development and sales on the artist’s behalf. In 2005, he co-founded X5, to capitalize on the increasing digitization of the music market.
The company was acquired by Warner Music Group in 2016.
Johan Lagerlöf said: “I’ve decided to leave Warner after two exciting years, and X5 after 14 years, I feel fortunate to have been part of the digital market transformation and its exciting journey. I’m very thankful to Warner and theX5 team for believing in our vision and then jointly executing on the strategy.
Music Business Worldwide