The Excelsior record label was established by Otis René in 1944, and ceased operations in original form in 1951, only to live on in a second incarnation until 1971.
Otis René was noted to have earned $25,000 on one song in 1945, "I'm Lost", recorded by the King Cole Trio.
[2] Other artists on Excelsior Records included Herb Jeffries, the King Perry Orchestra, Timmie Rogers, the Flennoy Trio, Gerald Wilson & His Orchestra, the Charles Mingus Sextet, Johnny Otis & His Orchestra, the Gladys Bentley Quintet, and the Al Stomp Russell Trio.
Otis René and his brother Leon René (who owned Exclusive Records) had purchased their own shellac record pressing plant, but when the format changed from 78 rpm to 45 rpm, their old equipment could not press the new smaller vinyl discs, and both labels went out of business, only to be purchased out of bankruptcy in name only, and the label existed another 20 years by selling second and third-run pressings of recordings.
[citation needed] In 1952, Otis started up the short-lived Spin Records with musician Preston Love.