The CEO of Atlantic Records says he decided to bet on himself and start his own company after ‘hearing “no” — again and again’

The CEO of Atlantic Music Group had some advice for new graduates of Boston’s Northeastern University: don’t give up when you’re told “no.”

Elliot Grainge, the son of Universal Music Group CEO Lucian Grainge, gave a commencement speech at the university on Sunday.

He told the graduates he’d learned the power of resilience when he faced rejection.

“I’m here to tell you the two greatest things people have said to me: ‘That’s impossible’ and ‘no,'” Grainge said.

He graduated from Northeastern in 2016. During his time at the university, he started two businesses he was “certain would be massive successes.” One was a promotion company, the other was a live music series.

“These companies made me a total of negative $3,500,” Grainge said.

He didn’t that the failures to heart and remained determined to make it in the music industry after graduation.

After leaving Northeastern Grainge said he tried to convince music execs that the artists he was listening to on SoundCloud were going to be big.

After “hearing ‘no’ — again and again” he said he started his own company called 10K Projects.

“I heard these things so many times, eventually I thought: screw it. I’ll try and raise some money, and try to sign one or two of these artists, and launch my own label,” Grainge said.

“That company, 10K Projects, was born from hearing ‘no’ — again and again. I bet on myself. I bet on the artists I believed in. And I was right, not always, but I was right more often than I was wrong.”

10K Projects has since signed artists including Trippie Redd, 6ix9ine, Aitch, and Ice Spice.

“Looking back, if just one of those individuals had said yes, or even offered me a job, I probably wouldn’t be standing here today in front of you guys,” Grainge said. “It was hearing ‘no’ that drove me to follow my gut and build something of my own.”

Grainge encouraged the graduates to embrace their failures because each of his own had taught him a valuable lesson.

“Success isn’t one massive leap,” he said. “It’s little wins, a thousand setbacks, some detours, and eventually, a door opens.”

Grainge was appointed CEO of Atlantic Music Group at Warner Music in 2024, overseeing Atlantic Records and 300 Elektra Entertainment.

Warner is one of the world’s largest music groups, along with Universal and Sony.

Commenters on a Northeastern subreddit noted that Grainge’s father is a member of the university’s board of trustees. Elliot Grainge married Sofia Richie, the daughter of singer Lionel Richie, in 2023.

The post The CEO of Atlantic Records says he decided to bet on himself and start his own company after ‘hearing “no” — again and again’ appeared first on Business Insider.