Universal Music is dusting off the record label that launched Velvet Underground and rebranding it to target the adult contemporary market.
In response to sagging sales of jazz music in recent years, Universal’s Verve is launching Forecast Records to target what it calls the “burgeoning and often overlooked” adult contemporary market.
The original Forecast was formed in 1967, and in addition to Velvet Underground housed other artists such as Richie Havens, Laura Nyro and The Blues Project.
“Sales in the jazz arena have really been deteriorating over the last four to five years,” Verve Music Group President and CEO Ron Goldstein told The Post.
“I had to ask myself: ‘How am I going to grow? How do I replace the jazz sales?’ ”
He said the new label will focus on singer-songwriters and target listeners from college age through 60.
Verve is home to such artists as Diana Krall, Linda Ronstadt and Aaron Neville.
“It is our belief that the audience that is buying music by these artists, as well as by Norah Jones, Josh Groban and Rod Stewart, is hungry for more,” Goldstein said.
The nationwide radio audience for adult contemporary music is 20 million people, according to Nielsen Music’s Broadcast Data Systems, which tracks radio airplay.
Goldstein has recently signed several acts to Forecast, including blues artist Susan Tedeschi, the Brazilian Girls, Rhett Miller and Teddy Thompson.