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07/24/2013 03:04 pm ET Updated Jul 29, 2013

All Def Music: Russell Simmons, Steve Rifkind, & Brian Robbins Partner To Launch New Label

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After years of expanding his portfolio across a multitude of business ventures, Russell Simmons is set to dive back into the industry that has served as the foundation of his career.

This week it was announced that Simmons has partnered alongside former Loud Records founder Steve Rifkind, and film director Brian Robbins to launch “All Def Music” label through the Universal Music Label.

According to Billboard, the innovative music label will leverage Simmons' All Def Digital business model with an additional focus to artist development and promotion initiatives via YouTube’s expansive video network. Making it the first major label created specifically for the Google-owned company.

“The exponential growth of Internet-based video has created a powerful new outlet for music and music-based content, and the launch of All Def Music is a part of our broader strategy to partner with some of the most experienced entrepreneurs in media and technology to identify future stars and develop powerful content on the world’s fastest growing media platform,” Universal Music Group chairman Lucian Grainge said in a statement.

Simmons added in the statement: "this is the most exciting new terrain for me, to move talent across all media platforms and I couldn’t have better partners in Brian and Steve, and the most innovative of music executives, Lucian Grainge.”

All Def Music is expected to launch this fall.

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