According to The New York Times, Universal Classics and Jazz, whose comprised labels hold a 29.7 percent market share in classical recordings—making it the dominant force in the industry—is adding an artist management and production division.

Citing a statement from Universal, the Times says that the new division will provide comprehensive management services, book tours, and produce live events for classical musicians—even those who are not exclusively Universal recording artists. This represents a similar avenue taken by pop/rock artists, such as Madonna and Jay-Z, who in light of declining CD sales, have (according to an April 3, 2008 report on The New York Times Web site) elected to try a new approach to the business by signing all-encompassing contracts, namely with Live Nation, that not only entail recording, but also touring and merchandising.

Universal president Chris Roberts says to the Times that with CD sales in decline, “it was necessary to look at diversifying into another area of the business that completely relates to where we are but puts us in a more strategically important position as a company.”

The Times notes that popular soprano Anna Netrebko and mezzo-soprano Elina Garanca, who both have recording contracts with Deutsch Grammophon; one of Universal’s premier classical labels and one of the oldest in the world, have joined the new management division. Other artists include the tenor Rolando Villazon and the soprano Karita Mattila.