Virgin Records Ltd is a British record label owned by Universal Music Group. It originally launched as an independent record label and was founded by entrepreneurs Richard Branson, Simon Draper, Nik Powell, and musician Tom Newman in 1972. It grew to be a worldwide success over time, with the success of platinum performers such as Paula Abdul, Janet Jackson, Devo, Tangerine Dream, Genesis, Phil Collins, the Human League, Culture Club, Simple Minds, Lenny Kravitz and Mike Oldfield among others, meaning that by the time it was sold, it was regarded as a major label, alongside other large international independents such as A&M and Island Records.