acquisitions
Several more players in the independent music community have called on regulators to block the acquisition of Downtown Music Holdings by Universal Music Group (UMG) announced this week, arguing the deal “would seriously distort the global music market” and “reduce competition and the independents’ bargaining power.”
Virgin Music Group, which is owned by UMG, announced Monday (Dec. 16) that it had agreed to buy Downtown Music Holdings for $775 million in a deal that would beef up the music giant’s market share by absorbing Downtown’s stable of indie distributors, publishing and rights administrators including FUGA, CB Baby, AdRev and Songtrust. The deal came just two months after UMG acquired the remaining shares of indie label group [PIAS], including its services division, Integral — an agreement that was similarly criticized by indie trade groups, who have asked regulators to launch an investigation into the pact.
In a joint release Thursday (Dec. 19), several indie music leaders said the deal, if allowed to go through, would result “in fewer options for smaller companies to negotiate fair terms and compete on equal footing, leading to higher costs and less choice.”
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“We are the global independent music community,” said Noemí Planas, CEO of Worldwide Independent Network (WIN), in a statement. “UMG trying to present this as an investment in the independent ecosystem is fooling no one. This is wealth extraction from the independents, another step in UMG’s relentless path to dominance and stifling competition. Independent music is the lifeblood of cultural innovation and market consolidation threatens the diversity that makes music so rich and compelling around the world. We call on regulatory bodies to block the deal.”
Also speaking out against the acquisition was A2IM CEO Richard James Burgess, who stated: “Universal Music Group’s acquisition of Downtown Music’s assets continues a troubling trend of consolidating independent music infrastructure, following acquisitions of InGrooves, MTheory, and PIAS. This increasing level of market concentration chips away at the competitive landscape, making it increasingly difficult for truly independent artists and companies to operate freely and equitably. These acquisitions risk silencing the independent voices that drive innovation and creativity in the music industry.”
Added Darius Van Arman, CEO of Secretly Distribution and co-founder of Secretly Group, “When near-monopolist Universal acquires Downtown, one of the largest independent music ecosystems, and does so in the name of independence, it cheapens what the word means. Market consolidation at this scale is not only anti-competitive, it is a fundamental threat to true independence.”
Virgin’s purchase of Downtown is just the latest in a string of similar acquisitions by major labels over the last several years. In 2024 alone, UMG acquired Outdustry, a label services and rights management firm that works across China, India, and other Asian markets; Thailand-based recorded music catalog RS Group; Nigerian record label Mavin Global; and a minority stake in U.S.-based Chord Music Partners, among others. Two years ago, Sony Music made a splash when it acquired AWAL and Kobalt Neighbouring Rights from Kobalt Music Group, followed by the more recent acquisitions of companies like Spanish label and distributor Altafonte and Greek independent label Cobalt Music. And Warner Music Group has snapped up minority stakes in European indie labels of late, including Dancing Bear Music (Croatia), NIKA (Slovenia) and Mascom (Serbia); it also fully acquired the Dutch label Cloud 9 Recordings in October.
“Whilst we are in favour of free enterprise, monopolies dominate market forces and remove the ability to compete,” said Maria Amato, CEO of Australian Independent Record Labels Association (AIR), in a statement on the Downtown deal. “There must be regulation to ensure that Universal who is already the largest music business in the world with a large stake in Spotify does not dictate prices and the ability for artists and labels to negotiate fair and equitable terms.”
“The recent acquisition by large corporations of companies that until recently were independent is a red alert for the entire global independent music community,” added Felippe Llerena, president of Brazilian trade association ABMI. “The Orchard, AWAL, Som Livre, Proper Music, Altafonte and now Downtown Music are examples of how multinational capital is reshaping the sector. ABMI believes that it is our duty to protect and promote an independent ecosystem, where artists, labels and companies can create freely and sustainably. Our fight is for the appreciation of music as art, culture and expression, not as a simple market product.”
In her own statement, Cecilia Crespo, GM of the association of Argentinian record labels ASIAr, said: “Concentration not only has a negative impact in the way platforms distribute royalties to artists and rights holders (based on market share), but also due to the unregulated use of data and intelligence from the analysis of the data and the behavior of all actors involved (artists, audiences, and users).”
On Tuesday (Dec. 17), several other indie music players came out in opposition to the Downtown acquisition, including indie labels trade body IMPALA, the U.K.-based Association of Independent Music (AIM) and global indie music publishers trade body IMPF.
UMG didn’t immediately respond to Billboard‘s request for comment on the latest statements of opposition.
Universal Music Group (UMG) signed a strategic partnership deal with global advertising and public relations giant WPP that will center around audience engagement strategies “leveraging the power of music,” according to a press release. The deal will allow WPP clients access to UMG’s music catalog, with the two companies working together to “unlock additional areas of amplification through data-driven and technological innovation” and exploring ways artificial intelligence “can better help brands and artists connect and create authentic cultural moments,” the release adds. The partnership builds on a pre-existing relationship between UMG and WPP, which have previously teamed up on initiatives including the Coke Studio and Sprite Limelight music platforms. In a statement, UMG chief digital officer and executive vp Michael Nash said that by “combining innovative new technologies with UMG’s industry-leading data insights, we can create significant new commercial opportunities for our artists and songwriters. In addition, working together with WPP, we will harness and amplify the unmatched power and reach of music for WPP’s clients and brands through new strategic initiatives and programs.”
Sony Music launched in Greece following its acquisition of Cobalt Music, one of the country’s biggest independent labels, to re-establish Sony Music Entertainment Greece. The deal will allow Cobalt artists to connect with audiences internationally. it was concurrently announced that Anna Maria Antippas will serve as MD of Sony Music Entertainment Greece after having held leadership roles in the Greek music industry for nearly 20 years. Greek music industry revenues reached $70.4 million last year, a 14.91% increase from the prior year. Streaming accounts for 63.1% of that revenue, marking year-over-year growth of 15.2%, while synch revenues have increased 49.4%, according to a press release.
Virgin Music Group struck a strategic long-term agreement with Hungama Digital Media, a leading digital entertainment company operating out of India. Through the deal, Virgin will help expand the global reach of Hungama’s music catalog, including SVF, Grassroute, OTV and numerous film soundtracks. In turn, the deal will allow Virgin to deepen its presence in India’s regional music scene. “Hungama’s expansive network will enable us to unlock incredible new opportunities for our artists,” said Amit Sharma, country manager of India for Virgin Music Group, in a statement.
CTS Eventim acquired a 17% stake in French ticketing company France Billet from Fnac Darty, making it France Billet’s majority shareholder. Fnac Darty retains a 35% stake after the transaction and will continue its involvement in the company’s governance. France Billet’s management team will remain in place following the deal.
AEG Presents assumed a partnership stake in Germany-based concert promotion company MCT Agentur. “I wanted a partner who shared my vision of how our business should run and could provide some extra muscle in my corner when needed,” said MCT Agentur founder Scumeck Sabottka in a statement on the deal. “Concert promotion is still a gamble…that’s what makes it fun, but it’s a full-contact sport at times. You need a teammate you can trust and Jay and I trust each other.”
Warner Music Japan (WMJ) entered a strategic partnership with NBCUniversal Entertainment Japan (NBCUJ) through which it will produce and promote new releases by NBCUJ’s artists. WMJ will additionally acquire the distribution rights of more than 9,000 works in NBCU’s music catalog, including anime-related tracks, and begin digitally distributing them globally starting early next year. WMJ will also handle distribution and sales of physical products. The two companies will also work to expand opportunities for music tie-ins with anime projects, exploring possibilities for WMJ artists to contribute songs to NBCUJ titles. With the deal, WMJ has also launched an anime business division, which has brought on former Aniplex president/CEO Koichiro Natsume and former TMS Entertainment Co. senior executive officer Hiroyasu Shinohara as external advisors. “This partnership will not only enable us to help bring NBCUJ’s catalog to the world through our global network, but also give our artists opportunities to further grow their careers by leveraging anime-related collaborations,” said Takeshi Okada, president/CEO of WMJ, in a statement.
Under a new strategic partnership, ADA — Warner Music Group’s indie music distribution and artist services arm — will now oversee worldwide distribution for music projects developed by FaroLatino Music, the label division of ForoLatino. “This alliance marks an important chapter for both companies as we unite to champion Latin American music on a global scale,” Javier Fainzaig, president of FaroLatino, said in a statement. ADA president Cat Kreidich added, “We’re excited to partner with FaroLatino and help lead the charge on the global growth and recognition of the many diverse artists and genres that make up Latin music.” Launched in 1995, FaroLatino offers artist services ranging from marketing and press to strategic partnerships. Some of its latest projects include Jessi Uribe and Alejandro Fernández’s collab “Tu Maniquí” and Noche de Brujas and Jorge Celedón’s cross-genre single “Vente Conmigo.” – Griselda Flores
Event management platform Events.com acquired the Wonderfront Music & Arts Festival out of San Diego. “Under our ownership, we’ll streamline operations and create more digital engagement opportunities for guests,” said Stephen Partridge, president/COO of Events.com, in a statement. Launched in 2019, Wonderfront boasted nearly 42,000 attendees at this year’s edition of the festival. “With Events.com’s expertise in event management and the innovative capabilities of its platform, we’re looking forward to creating even more memorable experiences for our guests as we enhance our operational efficiencies, including ticketing, guest engagement, and overall festival management,” added Wonderfront founder/executive producer Paul Thornton. The 2025 iteration of the festival is slated for May 16-18.
Create Music Group acquired a 50% share of the London-based dance music label and music publisher Enhanced Music, which boasts such genre brands as Enhanced Recordings, Enhanced Progressive, Colorize, Shapes of Solitude and Enhanced Chill. Enhanced has publishing rights to thousands of songs by artists including The Chainsmokers, Elley Duhé, Tiësto and Steve Aoki.
Symphonic Distribution partnered with Masterchannel to provide artists with an AI mastering tool that makes tracks release-ready and optimized for streaming. Under the deal, Symphonic artists can upload as many tracks as they want and receive unlimited free full-length master previews.
Also at Symphonic, the company signed South Korean lable EchoesInDream (EID) to a global distribution deal. Upcoming EID releases include “Swimmin’”, a collaboration between Filipino R&B artist Jay R and emerging artists PAAK and AVN, along with new music from PAAK, an Afrobeats artist. Both are slated for release in January.
Primary Wave has partnered with Itzhak Perlman, buying a stake in the violinist’s royalties from the dozens of recordings he has issued or appeared on in his five-decade-plus career, the company tells Billboard. The agreement also includes image and likeness rights. Terms of the deal were not disclosed.
According to Luminate, Perlman’s U.S. album consumption totals about 469,000 units. He’s also received 47 Grammy nominations, winning 16 times, according to Primary Wave. Other honors include a Presidential Medal of Freedom, a National Medal of Arts, a Medal of Liberty, four Emmy Awards, a Kennedy Center Honor and a Grammy Lifetime Achievement Award.
As part of the deal, Primary Wave’s marketing team and publishing infrastructure will work closely with Perlman on new marketing, branding, digital and synch opportunities, as well as film and TV projects.
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“I am excited to work with Primary Wave to see what plans they develop to take care of my recordings and to see what new opportunities they bring to the table,” Perlman said in a statement.
The deal covers such recordings as “Vivaldi: Four Seasons – Spring,” “Vivaldi: Four Seasons – Winter” and “Vivaldi: Four Seasons – Summer” as well as “Black Orpheus: Manha De Carnaval,” “24 Caprices, Op. 1,” “Concerto For Violin and Orchestra I,” “Violin Concerto, Op. 35” and others.
“Itzhak Perlman is hands-down the greatest violinist of our time,” Lexi Todd, vp of business & legal affairs at Primary Wave, said in a statement. “It is a true honor to have had the pleasure to work with Mr. Perlman and his team on this partnership, and we are all looking forward to working together on new opportunities to spread his undeniable musicianship and his incredible story.”
Independent music publisher Primary Wave Music has partnered with the estate of country/folk singer-songwriter Jerry Jeff Walker on Walker’s music publishing catalog, recording copyrights and artist royalties. The partnership provides the Walker estate access to Primary Wave’s marketing team and publishing infrastructure to work on new marketing, branding, digital, synch opportunities and film/TV projects. The deal also features an agreement for Walker’s recorded masters, in partnership with his label Tried & True Music, to be released and distributed through Sun Records; Sun Records will provide overall catalog marketing strategy, including streaming, social media marketing and physical releases. The deal includes some of Walker’s biggest hits, including “Mr. Bojangles,” “Railroad Lady” and “Sangria Wine.” – Jessica Nicholson
AI-powered social music app Hook partnered with Glassnote Records to add new tracks from artists including Tors, bby, Hayes Warner and Dylan Cartride to its library, with more acts to be added soon. Glassnote’s roster also includes Mumford & Sons, Childish Gambino and Phoenix. Hook allows users to remix existing songs by speeding them up, slowing them down, mashing them up with other songs and more to post on social platforms, effectively opening up another revenue stream for participating artists. In a statement, Glassnote founder/president Daniel Glass called Hook “a comprehensive solution to the use of remixed music across social platforms in a way that emphasizes artists’ control and compensation.”
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Leading music licensing platform Slipstream acquired Anthem Entertainment‘s production music businesses, including U.S.-based Jingle Punks and 5 Alarm Music and U.K.-based Cavendish Music. The acquisition encompasses more than 650,000 tracks along with music production capabilities. The purchase was made possible by financing and expertise offered by Pollen Street Capital, while Moelis & Company served as the exclusive financial advisor to Anthem on the negotiation. The acquisition represents a full-circle moment for Slipstream co-founders Dan Demole and Jesse Korwin; Demole co-founded Jingle Punks and previously served as president of Anthem Music Group, while Korwin served as Jingle Punks’ MD. Anthem Entertainment will make an investment in Slipstream as part of the deal.
Reactional Music, which allows video game developers to create interactive music soundtracks in their gaming titles, struck a global licensing partnership with Naxos, a leading rights holder of classical and regional music. The two companies are also exploring a collaboration on the composition of interactive soundtracks that would allow gamers to personalize Naxos-owned music in real time while playing, without affecting the master recording. Reactional has previously struck licensing partnerships with companies including Beggars Group, Hopeless Records, Hipgnosis Music Group and production music groups like APM Music, Soundstripe and Alibi.
Global investment firm CVC has invested alongside KKR to support live entertainment group Superstruct Entertainment in its next phase of development. KKR acquired Superstruct, which owns and operates more than 80 music festivals across Europe and Australia, in June 2024. CVC’s previous investments include Stage Entertainment, Formula One, Women’s Tennis and LaLiga.
SoundExchange and the Societies’ Council for the Collective Management of Performers’ Rights (SCAPR) announced that SoundExchange has become the first non-member collective management organization (CMO) to be able to create and issue international performer numbers (IPNs) — unique universal identifiers associated with performers, created and administered by SCAPR, that are used to identify them in data exchanges with other CMOs globally. Through the deal, SoundExchange will create and assign SCAPR’s IPNs to further link performers to their recordings, thereby improving identification of their creative contributions. “IPNs represent another tool in our expanding arsenal helping to get the right people paid the royalties they deserve,” said SoundExchange president/CEO Michael Huppe in a statement.
Downtown-owned business to business distributor FUGA partnered with Manila, Philippines-based management and production company ASINTADA while announcing new hires across the APAC region, including Noorcahyo Istyabudi and Jaya Singh, who will lead business development in Indonesia and South Asia, respectively. FUGA will provide global distribution and bespoke marketing services to ASINTADA, which will also have access to FUGA’s trends and analytics platform. ASINTADA represents some of the biggest hip-hop artists in the region, including Filipino rapper Gloc-9 and rising OPM (original Pilipino music) talent including Shanti Dope, Flow G and Skusta Clee. FUGA also announced a partnership with the Jesuit Communications Foundation, the media arm of the Philippine Province of the Society of Jesus; Crown Studios Inc., a full-service talent and management agency; and record label and production house 314 Studios.
Global children’s audio platform Yoto secured a $15 million funding package from HSBC UK‘s Growth Lending Fund to support its international growth. The funding will allow Yoto, which is based in the U.K. and currently operates in five countries, to extend its reach beyond those markets. Yoto additionally plans to expand the manufacture of its audio players and content cards to satisfy growing demand. The company says it expects to double its revenue with the funding.
LONDON – Independent labels trade body IMPALA is calling on regulators to investigate Universal Music Group’s acquisition of [PIAS] over concerns that the deal restricts competition in the global record business and “narrows options for artists and labels.”
[PIAS] co-founders Kenny Gates and Michel Lambot announced earlier this week that they were selling their remaining shares in the indie label group to Universal Music Group (UMG), which already owns a 49% stake in the company, for an undisclosed sum.
The deal gives UMG full ownership of [PIAS]’s services division [Integral], which provides physical and digital distribution services to more than 100 indie label partners including ATO, Beggars Group and Secretly Group and will henceforth merge with Virgin Music Group.
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Also falling under UMG’s control because of the share sale is the [PIAS] Label Group, home to indie imprints Play It Again Sam, harmonia mundi, Spinefarm, Source and partner labels such as ATO, Heavenly, Mute and Transgressive. Despite the change in ownership, [PIAS] says its label group business will remain completely autonomous.
In response, IMPALA and several of its associate national trade groups are calling on competition regulators to launch an investigation into what it described as “unchecked concentration in the music market [which] continues to be a serious problem.”
“The bottom line is UMG’s acquisition of [PIAS] will increase the power of [UMG] across Europe and beyond, including the U.K. and the USA, and IMPALA expects regulators in these jurisdictions to take action,” said the Brussels-based organization, which represents over 6,000 indie music companies in Europe, in a press release on Friday (Oct. 18).
Helen Smith, IMPALA’s executive chair, said she “expects” regulators to review the [PIAS] acquisition “and answer the question the industry is asking about how it is possible for UMG to gain more market share after it was already considered too big?”
“A share deal is one thing, this is something else,” said Smith, who is calling for competition officials to assess how the deal impacts physical and digital music markets, including distribution services, “as well as the impact on competitors, digital services, artists and fans.”
Geert de Blaere, the chair of Belgian association BIMA, said that while the Belgian market owes a debt of gratitude to [PIAS] for showing entrepreneurs what is possible, the impact of the company’s takeover by UMG “will be structural, significant and long lasting” for the independent music business.
“This is completely different to a share deal as UMG takes over the market share of [PIAS]. Scale and stability in the whole independent sector will be lost. Incremental shifts in the market across the majors leverages disproportionate influence in the hands of a few companies. Each time that happens the result is more control over how the market develops,” said de Blaere in a statement.
Supporting calls for an investigation, IMPALA chair Dario Draštata said the deal strengthens UMG in terms of market share, “eliminates a principal competitor” and “narrows options for artists and labels.”
Representatives for UMG and [PIAS] did not respond to requests for comment when contacted by Billboard.
The acquisition of [PIAS] by the world’s biggest music company further grows the dominant market share enjoyed by UMG and follows the expiration of a 10-year ban on the music giant acquiring certain music companies or catalogs in Europe.
Those restrictions were placed on UMG in 2012 by the European Commission as one of the conditions of the company’s $1.9 billion takeover of EMI going ahead. As part of that process, the European Union’s executive branch forced UMG to divest the Parlophone Label Group, which was bought by Warner Music Group (WMG) for around $750 million, as well as the offloading of numerous EMI entities in Europe, and the Chrysalis, Mute, Sanctuary and Co-op Music labels.
To receive regulatory approval to buy EMI, UMG committed to not re-acquire any of the assets sold, or re-sign any artists signed with labels it had divested for a period of 10 years. Just a few months after that decade-long ban expired in September 2022, Universal acquired a 49% minority stake in [PIAS], which owns some of those previously off-limits catalogs, including Co-op Music.
On Tuesday (Oct. 15), UMG announced it had grown its minority interest to full ownership, following Gates and Lambot’s decision to sell their controlling stake.
The acquisition of [PIAS] by UMG is part of a growing trend of major labels looking to the independent sector to increase their market share, either by enhancing their distribution offerings for indie artists and labels or by investing in, or buying, independent music companies.
In 2019, UMG acquired independent distribution and marketing company Ingrooves Music Group. One year later, Sony Music bought J. Erving‘s digital distribution and label services company Human Re Sources from Q&A, followed in 2021 by its purchase of artist services company AWAL and Kobalt Neighbouring Rights from Kobalt Music Group.
Major indie label acquisitions over the past decade include WMG buying Netherlands-based Spinnin’ Records in 2017 and Sony Music’s purchase of U.K. dance label Ministry of Sound in 2016.
On a smaller scale, WMG has been steadily growing its recorded music interests in Central and Eastern Europe, buying minority stakes in Croatia’s Dancing Bear Music, Slovenian independent label NIKA and Serbia’s Mascom. And this week, WMG Benelux announced the acquisition of Dutch label Cloud 9 Recordings.
Referencing the major labels’ pursuit of key independent labels, Draštata, who is also president of Balkan indie label trade association RUNDA, said the practice was becoming an “issue across Europe.”
“The loss of such big players for the independent sector compounds the competitive impact and the risk is that this trend will continue,” said Draštata in a statement. “We have been signalling the problem of creeping dominance for many years and it’s time for a new competition approach to address this question.”
Sandbox Succession, the legacy division of Sandbox Entertainment, partnered with the Patsy Cline estate through Patsy Cline Enterprises. Under the agreement, Sandbox Succession will collaborate with Cline’s daughter and heir, Julie Fudge, to expand her legacy across film, TV, publishing, merchandising, hospitality and licensing. Gregory Hall, a key player in the management of Cline’s estate, will remain an instrumental member of the team. A new biography and documentary on Cline are both in development. Sandbox Succession also represents the estates of Johnny and June Carter Cash and Loretta Lynn.
Business-to-business digital music platform Tuned Global forged a partnership with streaming fraud detection company Beatdapp, through which Tuned Global will incorporate Beatdapp’s fraud detection capabilities into the Tuned Global platform. The deal will help Tuned Global ensure that client royalties are fairly distributed to rights holders. Beatdapp also has deals in place with Universal Music Group and the Mechanical Licensing Collective.
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Oak View Group (OVG) and Middle East event management and venue operator Ethara struck a joint venture to enable OVG’s entry into the Middle East market. Under the agreement, Ethara — which operates venues in the United Arab Emirates, including the Etihad Arena, Etihad Park, Yas Marina Circuit and Yas Conference Centre — will provide OVG with knowledge of local markets, with the two companies exploring growth opportunities together across the region. Ethara will also work closely with Rhubarb Hospitality Collection (RHC), a British venue caterer recently acquired by OVG, to improve the fan experience by providing food, beverage and hospitality services at venues across the Middle East.
Dreamliner, a provider of upscale travel coach buses for entertainers, acquired two events logistics companies: Denver-based Shomotion and Nashville-based Show Pro, with founders of each company joining Dreamliner’s executive team. Dreamliner will retain all Shomotion and Show Pro employees and expand its footprint by adding Shomotion’s Denver facility and Show Pro’s Nashville facility. The acquisition adds over 70 trucks and 220 trailers to Dreamliner’s offerings. – Jessica Nicholson
AtVenu, a leading provider of live event software and payment solutions, received a $130 million equity investment from Sixth Street Growth. The partnership will allow atVenu to expand and speed up the company’s growth into new live event markets, including sports and food and beverage. AtVenu helps ease the process of managing locations, inventory and the deployment of point-of-sale hardware while offering real-time data for organizers to optimize the event experience. According to a press release, the company processes more than $1.6 billion in merchandise and food and beverage volume every year and works on more than 125,000 events annually, from small clubs to stadiums. Raymond James served as atVenu’s financial advisor in the transaction.
Armada Music Group’s BEAT Music Fund acquired several new catalogs. They include the artist shares from a portion of techno pioneer and artist Kevin Saunderson‘s Inner City catalog; master and artist royalties for trance DJ and Coldharbour Recordings owner Markus Schulz; and the catalog of Robbie Rivera’s dance label Juicy Music. BEAT’s roster, through acquisitions, also includes Sultan + Shepard, Jax Jones, Amba Shepherd, VIVa MUSiC, Sola Records, King Street Sounds and Chocolate Puma.
Warner Music Group (WMG) Benelux acquired Netherlands-based record label Cloud 9 Recordings, which counts artists including Claude, Jaap Reesema, Kris Kross Amsterdam, Snelle and Turfy Gang on its roster. Under the deal, the Cloud 9 team will relocate to The Amsterdam Music Harbour, which serves as the creative hub of WMG Benelux in the Amsterdam Houthavens. Raymond van Vliet will retain his role as president of Cloud 9, which will remain a separate label, as well as his responsibilities at Blue Skies Publishing. Along with the acquisition, WMG Benelux entered an exclusive global administration agreement with the Cloud 9-affiliated Blue Skies Publishing, which represents songwriters including Claude, Davina Michelle, Edwin van Hoevelaak, Flemming, Frank van Etten, John Dirne, La Fuente and Snelle and owns several catalogs. Blue Skies Publishing will continue to manage the creative process with its current team, while its office in the Dutch town of Laren will serve as a satellite office for Cloud 9.
Moombix, described as a music education platform enabling adult hobbyists and aspiring music professionals to have one-on-one online classes with expert teachers, closed a seed funding round of over 1.9 million pounds ($2.47 million), led by Iceland’s Frumtak Ventures with participation from angel investors. The money will be used to scale the Moombix marketplace and improve the user experience, accelerate customer acquisition and prepare for a strategic launch into the U.K., where 200 teachers have already signed up to offer classes, according to a press release. Moombix offers classes on instrument learning, voice coaching, DJing, production and more.
Downtown-owned business-to-business distributor FUGA struck a new partnership with UNIFIED Music Group, a multi-service music company that operates across Melbourne, Syndey, L.A., New York, Nashville and Toronto. Under the deal, FUGA will support UNIFIED Recorded Music labels including UNFD and Domestic La La, which will leverage FUGA’s platform and suite of services, including strategic marketing and account management, social video management, YouTube channel partnerships, physical distribution, synch and licensing solutions via Downtown Music Publishing, and neighboring rights collection through Downtown Neighbouring Rights. Since 2022, UNIFIED has been a client of Downtown-owned royalty accounting platform Curve.
Live Nation signed a deal to manage Allas Live, a 2,500-capacity open-air venue within the Allas Sea Pool complex in Helsinki, Finland. Under the deal, Live Nation will also manage the Allas Live outdoor concert series in partnership with Allas Sea Pool.
ASM Global reached an agreement with the City of Worcester, Mass., to extend ASM’s management services of the city-owned DCU Center Arena and Convention Center. The five-member Civic Center Commission, which oversees ASM’s management contract on behalf of the city, voted unanimously to recommend the contract extension. As part of the 10-year extension, ASM has committed to a $3.5 million investment in the DCU Center that will focus on enhancing food and beverage operations, creating digital advertising opportunities and implementing further technology upgrades.
Acrisure Arena, located in Palm Springs, Calif., announced Silvercrest as the official sponsor of its exclusive outdoor VIP space, the Silvercrest Compound. The space includes a nine-hole mini golf course along with bocce ball, pickleball, half-court basketball, fire pits, and food and beverage offerings just steps away from the stage.
Reactional Music, which enables music to be personalized within video games in real-time, signed a licensing agreement with Beggars Group, home to indie labels including 4AD, Matador Records, Rough Trade, XL Recordings and Young. “Reactional Music is doing something really interesting in the gaming space,” said Beggars Group director of global commercial strategy Simon Wheeler in a statement. “It compliments our existing licensing team’s work and extends our reach with games developers and over three billion gamers across the world. We know that gamers are music consumers that over-index in their consumption of music and we’re excited to see what this new partnership will bring.” Reactional previously struck partnerships with music companies including Defected Records, Hopeless Records and Hipgnosis Song Management.
The Circuit Group, the recently launched company that aims to maximize the value of intellectual property for electronic artists, struck an exclusive distribution partnership with LabelWorx, the leading independent digital distributor for indie electronic music labels. Under the deal, Labelworx will manage all digital distribution for The Circuit Group’s roster of artists and labels, including Catch & Release and diviine. “We are thrilled to enter into this exclusive partnership with LabelWorx,” said James Sutcliffe, CEO/president of The Circuit Group UK, in a statement. “Their forward-thinking approach to distribution and their shared commitment to enhancing the value of artists’ IP aligns perfectly with our vision for the future. We are excited to provide our artists and labels with the tools they need to thrive in a fast-evolving industry.”
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Leading African streaming platform Audiomack partnered with Africa-based consumer payments provider Carry1st in a deal that will allow Audiomack’s customers in Africa to purchase subscriptions using local payment methods via Carry1st’s Pay1st payment solution. Audiomack subscriptions will now be available for purchase via the Carry1st shop in local currencies in Nigeria, Egypt, Ghana, South Africa, Kenya, Morocco, Tanzania, Cameroon, Côte d’Ivoire, Rwanda, Uganda, and Senegal. “Audiomack is incredibly excited to partner with Carry1st to expand our presence across Africa and make it easier for music fans across the continent to access premium features,” said Audiomack vp of marketing Charlotte Bwana in a statement. “Carry1st has been impactful in growing Africa’s gaming industry for creators and users, and we are confident we can replicate this approach in the music space.”
U.K.-based streaming service Mixcloud acquired European online music marketplace Encore, which helps artists connect with customers looking for live acts to book at their events. Encore will continue operating as an independent brand as Mixcloud helps steer the company’s future. Mixcloud co-founder Nikhil Shah will join Encore as its new chairman; Shah has been an angel investor in the company since 2019.
Australian music company Vinyl Group acquired the assets of London-based Web3 company Serenade in exchange for $800,000 in shares. Vinyl Group will additionally purchase Serenade’s U.K. subsidiary on a debt-free, cash-free basis, “for the purposes of expediting the expansion of the Vinyl.com business into the UK and European markets,” according to a press release. As part of the deal, several key Serenade employees have joined Vinyl Group, including CEO Max Shand, who will continue to lead Serenade while helping expand the Vinyl.com business. According to the release, sales of Serenade’s NFC-enabled “Smart Formats” have grown 56% month-over-month since launching in January, with a total of 12,000 units sold in the first half of the year. It adds that Serenade has commercial partnerships with more than 100 record labels including Warner Music Group, Beggars Group, Concord, Glassnote, FUGA and PIAS.
Music Venue Trust (MVT), a U.K. charity that represents hundreds of independent music venues in the country, acquired the 235-capacity Swansea, Wales indie venue The Bunkhouse under its Music Venue Properties’ #ownourvenues scheme with support from Swansea Council and Figurative, formerly part of Nesta. Under the deal, The Bunkhouse will be placed into permanent protected status. Launched in 2022, the crowd-funded #ownourvenues initiative has so far raised more than 2.6 million pounds from more than 1,250 individual investors and funding. MVT previously purchased The Snug in Atherton, Greater Manchester in October 2023 and The Ferret in Preston in May 2024, with additional venues identified for acquisition. Music Venue Properties has offered The Bunkhouse a rent reduction and a contribution to building repairs and insurance while committing to working with The Bunkhouse director Jordan McGuire to develop currently-unused parts of the building. “We can finally focus on continuing to develop the next generation of talent, knowing that The Bunkhouse is secure and will remain a cornerstone of Swansea’s music scene long after I’m gone,” said McGuire in a statement.
Killphonic Rights, a music rights management company specializing in publishing, distribution, neighboring rights and creative synch licensing, received a $3 million investment from Stilwell Creative Capital for a proportional stake of equity in Killphonic. The money will be used to expand services for Stilwell’s roster of artists, songwriters, labels and publishers. Stilwell will tap into Killphonic’s knowledge base and staff to increase collections and licensing opportunities for the catalog of rights it has acquired. The partnership was orchestrated by Amanda Schupf of MAX Music Management and Consulting, who will join the advisory boards of both Killphonic and Stilwell following the deal.
Believe completed its full acquisition of leading Turkish indie label Doğan Music Company (DMC) following the approval of the competition regulator. The Paris-based company previously acquired a 60% majority stake in DMC in 2020 before exercising the call option to acquire the remainder for a total of 38.3 million euros ($41.84 million).
Connyct, a new social network designed exclusively for college students, struck a licensing deal with Warner Music Group (WMG), allowing WMG music to be used in Connyct’s video-creation hub Events Center. “We created Connyct to spark joy and excitement around real-life experiences, a digital reflection of your favorite times,” said Connyct CEO/co-founder Matthew Berman in a statemetn. “We’re all about connection and discovery, meant to help users find people who share the same passions and want to publicize events to enjoy them with their friends. Our partnership with WMG takes this vision to the next level, allowing students to soundtrack their college experiences with an incredible array of music.” Connyct will be available for download on the iOS App Store in the coming weeks at select universities.
Ticketmaster and Tickets For Good unveiled a new partnership that will make it easier for live event organizers to donate tickets to nonprofit workers, healthcare providers and teachers. Via Ticketmaster’s Distributed Commerce API, any artist, sports team or other event organizer using Ticketmaster can allocate a portion of their tickets to Tickets For Good, which provides access to select live events for people who serve their community, for a booking fee of less than five pounds in the U.K. and less than $5 in the U.S.
Symphonic Distribution partnered with Twitch to give Symphonic artists the ability to include their music in the Twitch DJ Program. Once they opt-in, Symphonic artists can have their music used by any DJ on Twitch in their sets and earn royalties in the process.
L.A.-based artist management company Hills Artists struck a joint venture partnership with Firebird, a music company that provides career and brand guidance to more than 1,000 artists globally by leveraging data along with its team of experts. “By leveraging cutting-edge data science, increasing access to vital information, and mobilizing substantial financial power, we are uniquely positioned to build careers and transformative businesses,” said Hills Artists CEO Rupert Lincoln in a statement. “Firebird has cultivated something truly exceptional, and we are excited to take the next steps in our journey with them.” Hills’ roster includes Sasha Alex Sloan, Grandson, Aidan Bissett and LANY.
The $2.3 billion sale of ASM Global, the facility management firm that manages venues like Soldier Field in Chicago and the Coca-Cola Arena in Dubai, finally closed today, a full 10 months after it was announced that Legends was purchasing the firm from AEG and Canadian private equity firm Onex. The lengthy delay was the result of a U.S. Department of Justice investigation into Legends for allegedly violating anti-trust regulations during its review of the deal, recently disclosed documents show, which led to Legends paying a $3.5 million civil fine.
According to court records in the Southern District of New York — the same court where Live Nation is fighting a historic antitrust case against the DOJ — officials with Legends allegedly “assumed unlawful control over ASM” during a statutory waiting period that required “Legends and ASM to continue to operate as separate and independent entities while the Antitrust Division of the Department of Justice reviewed the acquisition.”
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According to a DOJ complaint, Legends won the right to manage a new arena project in San Diego that had been formerly managed by ASM Global. After winning the contract, Legends assigned some of the responsibility of the contract to ASM, despite not having completed the pre-merger review or received approval from the DOJ.
In August 2023, Legends officials again allegedly violated DOJ rules that the two firms act as separate companies when they bid for a contract in North Carolina to manage an existing entertainment complex. According to the DOJ complaint, “a senior Legends executive emailed Legends’ then-CEO noting, ‘I assume we would rather have ASM chase this?’ The then-CEO informed another executive, ‘we will find out if ASM is bidding as don’t want to both be bidding,’ and set a calendar reminder for himself tospeak with a senior ASM executive about the North Carolina RFP.” The DOJ alleges that Legends and ASM also illegally shared information on two other projects they were bidding for.
Legends was accused of violating the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and agreed to pay a $3.5 million fine, “an amount that is less than the maximum penalty permitted,” government documents reveal, noting “a lower penalty is appropriate because of Legends’ demonstrated willingness to take corrective internal action and fight allegations in court, avoiding “the costs associated with a prolonged investigation and litigation.”
Under the agreement, Legends must “appoint an antitrust compliance officer at its expense, to conduct compliance training, to certify compliance with the Final Judgment, to maintain a whistleblower protection policy, and to provide the United States inspection and interview rights to assess compliance with the Final Judgment,” the documents read.
The sale of ASM Global to Legends got rolling last year after Canadian private equity firm Onex notified AEG of its plans to sell its 35% stake in ASM. Instead of buying out Onex, AEG agreed to put the entire company up for sale. On Nov. 3, Onex and AEG jointly announced that Legends was buying ASM, creating the country’s leading venue management company.
Representatives for Legends and ASM Global did not immediately respond to requests for comment.
“The next era of Legends starts now,” said Dan Levy, CEO of Legends, in a press release issued Friday (Aug. 23). Global investment firm Sixth Streets owns majority control of Legends, with minority stakes held by subsidiaries of the New York Yankees and Dallas Cowboys. Levy, who previously worked at Meta, became CEO of Legends in April.
Ron Bension, ASM Global president/CEO, added, “One of our ASM Global mantras for a number of years has been ‘the future is now.’ By joining Legends, that future has not only arrived, but it couldn’t be brighter. The opportunities created by our companies’ collective capabilities will elevate not only the success of our partners, clients, and projects worldwide, but the industry as a whole.”
Founded in 2008, Legends now has 400 clients under management including Allegiant Stadium in Las Vegas, Caesars Superdome in New Orleans and OVO Arena Wembley in London. ASM Global will continue to operate under its current name for now.
Moelis & Company LLC and BofA Securities, Inc. served as financial advisors to Legends, while Ropes & Gray LLP and Cleary Gottlieb Steen & Hamilton LLP served as its legal counsel. Goldman Sachs and Jefferies served as financial advisors to ASM Global, while Latham & Watkins LLP, Hogan Lovells and Arnold & Porter served as its legal counsel.
Investment giant Apollo Global Management is backing Sony Music Group to the tune of $700 million to help the company fund music acquisitions, it was announced Friday (July 26). The deal could provide the financial assistance needed for Sony’s planned acquisition of Queen‘s recording and music publishing catalogs. Sources have told Billboard the band is […]
Ticketmaster partnered with Shazam for a deal allowing artists to link to their Ticketmaster-listed events directly in the Shazam app. Through that integration, Shazam users will be able to see where that artist is playing and buy tickets to their show “with just a few clicks” after Shazaming their music, according to a Ticketmaster blog post. The ticketing giant previously announced similar integrations with TikTok and Snapchat.
Fraud detection company Beatdapp Software partnered with Beatport, a digital service that offers high-quality downloads for DJs to use in live sets, in a deal that aims to banish fraudulent activities on Beatport by integrating Beatdapp’s fraud detection technology into the platform. “We launched streaming products under the Beatport and Beatsource brands in 2019, and despite the fact that they have not historically been a target for streaming fraud, suspicious activity has been on the rise in recent months,” said Helen Sartory, chief revenue officer of The Beatport Group, in a statement. “Although our fraud rates still remain half that of the industry average, we rely on accurate streaming data not only to preserve fair compensation to artists and labels, but also for track recommendations and analytics. We are excited to be able to work with Beatdapp to ensure that our data is representative of authentic listener engagement.”
Virgin Music Group announced a “strategic relationship” with Frontier Works, a Japanese animation-related content production company, to release anime music projects. Virgin will provide Frontier Works with access to its music distribution and marketing platform and global team to support Frontier releases worldwide. This includes Virgin’s AI-driven music marketing technology, which filters streaming data “to create dynamic and actionable insights,” as well as “Smart Audience,” an advertising platform that uses “ethical AI” to increase fan engagement and help drive streaming consumption, according to a press release.
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Believe acquired a 25% stake in Global Records, an independent dance music company covering Central and Eastern Europe, and signed a strategic partnership with the label. The acquisition expands Believe and Global Records’ existing relationship, which since 2016 has allowed the latter to ramp up its territorial expansion and catalog development, according to a press release. Global Records’ catalog racked up more than 6 billion streams across all platforms last year alone and has seen more than 20 billion streams to date, the release adds. Global’s roster includes INNA, Minelli, Carla’s Dreams, Antonia and Holy Molly; it has offices in Germany, Romania and the United States.
Artist manager Matt Musacchio‘s Champ Management partnered with Red Light Management in a deal that brings Vincent Mason, Jessie James Decker and Dawson Anderson to the Red Light roster. Kyle Marsh will also join the Red Light team as a day-to-day manager.
ASM Global expanded its reach into Portugal by taking on the operation of two venue spaces located in Lisbon’s LX Factory, which is located inside a converted factory complex in the Alcantara area. ASM Global will additionally manage the venues’ adjacent outdoor bar, terrace and gallery spaces.
Web3 creator platform DRiP acquired limited-edition music platform Vault Music. Both platforms are on the Solana blockchain. Under the deal, all Vault Music drops and users will transition to the DRiP platform. “Vault was our first music partner on DRiP,” said CEO Vibhu Norby in a statement on the acquisition. “They did a phenomenal job harboring musicians from outside of the existing ecosystem, and we’re excited to help them continue that effort.”
ADA Canada signed a global distribution deal with country music label MCM Recordings, which is home to Jess Moskaluke, Charlie Major and The Redhill Valleys.
The Irish Music Rights Organisation (IMRO) extended its agreement with the International Copyright Enterprise (ICE) for several more years. According to a press release, the extended deal “will facilitate faster royalty payments to IMRO members for online performances of their works and enhanced usage transparency.” The release claims IMRO’s online revenue saw 30% growth in 2023.
Independent dance music label Armada Music signed a long-term partnership with Amsterdam-based DJ and producer KI/KI and her self-founded label, slash. Armada will work with KI/KI and her team on A&R, label management, distribution and promotion/marketing for upcoming slash releases. The first release under the joint venture is KI/KI’s latest EP, slash 010.