SRC was founded by Steve Rifkind in 2000.[citation needed] In 2002, he was ousted from his CEO position from Loud. Although he already had SRC, he made it a bigger priority and sign an exclusive distribution deal with Universal. The label was much like Loud Records, a hip hop and R&B label. The first move with the label was signing David Banner, a rapper from Jackson, Mississippi. With Banner as their flagship artist, SRC soared to great heights behind his 2003 debut. The label was instantly hailed as the second-coming of Interscope Records[citation needed], due to the obvious similarities. The hit single "Like A Pimp," would make the label a household name within the hip hop community. During the year of 2003, the label would hit paydirt after hearing tapes from Senegalese singer, Akon, who they would immediately sign to their label. In 2004, Akon would release his multi-platinum debut album, Trouble. In early 2004, they signed a deal to distribute material from the rap supergroup, Terror Squad. SRC would go on to release all albums from Remy Ma and the group Terror Squad, itself. In the summer of 2004, SRC would become home to the hit single, "Lean Back," by Fat Joe and Remy Ma. After these releases, SRC had established itself among the other heavyweight record labels in hip hop music. In 2005, the label granted Akon his own label Konvict Muzik. The deal brought more artists on to the label and a hit album from Akon.
Loud deal and later successes
In June 2007, Sony Music resurrected Rifkind's original label, Loud Records. Loud had been home to many of the more popular hip hop acts of the time, but would shut down operations in 2004. After the resurrection of Loud, Rifkind would buy the label and make it a subsidiary of SRC. His first act after re-gaining the label was, as he did fifteen years earlier, signing the Wu-Tang Clan.[2] In August 2010 Rifkind signed rapper Joell Ortiz in a deal with SRC Records and Universal Motown Records.[3] The label had a deal with Universal Republic Records, later the label was reverted to Republic Records.
On July 29, 2012, Steve Rifkind announced that he was leaving Universal Music Group on September 1, 2012.
On Christmas Eve 2024, Steve Rifkind announced that he return to Universal Music Group and relaunch SRC Records under Universal Records, Motown Records and Republic Records.
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