Blue Note Records is an American jazz record label owned by Universal Music Group and operated under Capitol Music Group. Established in 1939 by Alfred Lion and Max Margulis, it derived its name from the blue notes of jazz and the blues. Originally dedicated to recording traditional jazz and small group swing, the label began to switch its attention to modern jazz around 1947. From there, Blue Note grew to become one of the most prolific, influential and respected jazz labels of the mid-20th century, noted for its role in facilitating the development of hard bop, post-bop and avant-garde jazz, as well as for its iconic modernist art direction.