V2 Records (or V2 Music and V2 Benelux; V2 being an abbreviation for Virgin 2) is a record label that was purchased by Universal Music Group in 2007, sold to PIAS in 2013[1] and partially acquired by Universal in 2022 (as part of larger PIAS 49% equity acquisition).[2] In 2024, Universal acquired the remaining 51% of PIAS that it did not already own.[3] In Benelux, V2 would operate separately from PIAS from 2013 to 2022, since the label was bought from Universal in 2007, henceforth Universal Music Group fully owns V2.
History
The label was founded in 1996 by Richard Branson, five years after he sold Virgin Records to EMI. V2 management was led by the same individuals that built Branson's balloon and the control position was held by a Canadian public corporation. The company was restructured after running into financial difficulties with Branson taking control and reinventing the brand.