Parkwood Entertainment

Parkwood Entertainment is an American management, production, entertainment company and record label founded by American singer Beyoncé in 2010. The company began as a production unit for films and videos in 2008. It has offices located in New York City and Los Angeles. Its involvements include products for music production, motion pictures and television specials related to Beyoncé. The company's first release was the film Cadillac Records (2008). History Parkwood Entertainment was founded in 2010 as a production unit for videos and films by American singer, actress, producer, and director Beyoncé. Parkwood is named after a street in Houston, Texas where Beyoncé once lived. Parkwood Entertainment's first production was the musical biopic Cadillac Records (2008), in which Beyoncé starred and co-produced. In 2009, she starred in and executive produced the thriller Obsessed. During a private screening held at New York's School of Visual Arts Theatre following the release of her fifth self-titled studio album, Beyoncé briefly discussed her decision to found Parkwood Entertainment in front of her fans and the press, saying: "I started my own company when I decided to manage myself. It was important that I didn't go to some big management company, I felt like I wanted to follow the footsteps of Madonna and be a powerhouse and have my own empire, and show other women when you get to this point in your career you don't have to go sign with someone else and share your money and your success—you do it yourself." In December 2013, Parkwood Entertainment released Beyoncé's fifth self-titled visual album. The surprising release caused "hilarious, honest and hysterical" reaction among Beyoncé's fans, and "shock" among other musicians. According to data provided by Twitter, the release generated over 1.2 million tweets in 12 hours. Peter Robinson of The Guardian hailed the shock release as "Beyoncégeddon", describing it as a "major triumph ... a masterclass in both exerting and relinquishing control." Beyoncé was released digitally to the iTunes Store without prior announcement or promotion. It debuted at number one on the US Billboard 200, earning Beyoncé her fifth consecutive number-one album in the country. The record sold 617,000 copies in the US, and 828,773 copies worldwide in its first three days of availability, becoming the fastest-selling album in the history of the iTunes Store at the time.