Robert Krasnow was born in Rochester, New York, to Ben Krasnow, a commercial artist (sign painter),[2][3] and to the former Gertrude Goldstein from Hamilton, Ontario, Canada,[4] both of Russian Jewish parentage.
Krasnow's early career included working as a promotions man for James Brown and sales representative for Decca Records. In the early 1960s, Krasnow founded MK Records, which released the novelty record "Report To The Nation," a parody of the 1960 presidential campaign between John F. Kennedy and Richard M. Nixon.[5]
In 1968 Krasnow left the Kama Sutra/Buddah labels and founded Blue Thumb Records in Beverly Hills, California with producers Don Graham and Tommy LiPuma. The first release on this label was the second Captain Beefheart album Strictly Personal. Krasnow's use of phasing effects on this album is controversial. Beefheart subsequently condemned the production, which he said was done without his knowledge or approval, though it is claimed by other band members that he initially agreed to it.[citation needed]
Krasnow served as president of Blue Thumb until 1974, when he became vice president/talent acquisition for Warner Bros. Records, a role he held until 1983 when he was elevated to chairman and CEO of Elektra/Asylum/Nonesuch Records (later known as Elektra Entertainment).
During this period Krasnow let Queen buy back their rights to their catalogue as he was not a fan of their music. The deal was conducted with the band's manager John Reid, paying $1 million ($2.93 million in 2023 dollars[11]) to have it, they had a backdoor deal already set for $10 million ($29.3 million in 2023 dollars[11]) with Hollywood Records profiting for $9 million ($26.4 million in 2023 dollars[11]) instantly. This incident went on to sour the relationship between him and Elektra's founder Jac Holzman.[12] Krasnow abruptly resigned from his position at Elektra in July 1994,[13] the result of a bitter internal struggle within the Warner Music group during 1994-95 that also led to the departure of long-serving and highly respected Warner Bros. Records executives Mo Ostin and Lenny Waronker. Following his resignation he established Krasnow Entertainment, a joint venture with the MCA Music Entertainment Group.[14]
Krasnow's honors include being named the T.J. Martell Foundation Cancer Research Man of the Year in 1984 and 1989; Nordoff-Robbins Music Therapy honoree in 1989; and recipient of the Ellis Island Medal of Honor in 1992.