acquisitions
The European Commission said on Friday it will investigate Universal Music Group’s planned acquisition of Downtown Music Holdings, according to a statement.
The investigation will determine whether “the transaction threatens to significantly affect competition in certain markets of the music value chain, where both companies are active, in Austria and in the Netherlands,” which requested the probe, according to an announcement by the EC. UMG is legally registered in the Netherlands and its stock trades on the Euronext Amsterdam.
A UMG spokesperson said a statement that the company looks “forward to continuing to co-operate with the European Commission in the weeks ahead. We are confident that we will close this acquisition in the second half of the year, on its original timeline.”
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UMG, the world’s largest music company, announced plans late last year to acquire Downtown for $775 million. The deal would significantly expand UMG’s presence in the market catering to do-it-yourself artists, songwriters and indie labels.
New York-based Downtown is the owner of the direct-to-creator distributor CD Baby, and the direct-to-business technology and distribution platform FUGA, the administration business SongTrust, and royalty and financial services companies, including Curve.
The fast-growing sector of the music business serving artists and companies that want to maintain greater control of their works has seen a flurry of investment and acquisitions in recent years.
In addition to its bid for Downtown, UMG acquired a controlling stake in the indie label group [PIAS], an expansion of its 2022 investment in the London-based business.
IMPALA, the European association of independent music companies, which has been critical of UMG’s prior acquisitions, said it welcomed the EC’s investigation and hopes regulators will stop “UMG’s juggernaut strategy.”
“The acquisition would further entrench UMG’s position across European music markets, squeezing out competition, narrowing opportunities for independents and the artists they work with and allowing UMG to exercise more control over streaming services,” IMPALA said in a statement.
In a research note published this week, analysts at J.P. Morgan agreed the deal would increase UMG and Virgin Music’s reach, and said it would enhance UMG’s “support of independent music entrepreneurs … [and] double Downtown’s [earnings before interest, taxes, depreciation, and amortization] over 2-3 years.”
UMG’s deal must receive regulatory approval to proceed, and the European Commission said it has asked UMG to officially report the deal.
Vobile, which provides AI-powered digital content protection and transaction services for entertainment companies, sports leagues, record labels and publishers, completed its acquisition of audio content identification platform Pex for an undisclosed amount. The team at Pex joined Vobile as part of the deal.
Live Nation Entertainment has expanded in Japan by acquiring Hayashi International Promotions (HIP), a leading live music promoter for both domestic and international artists in the country. Through the deal, the companies hope to elevate J-pop artists on the global stage while allowing international artists to gain more traction in the country. “HIP has been at the heart of Japan’s live music scene for over 40 years, and our focus has always been on delivering incredible concerts for fans,” said Kaori Hayashi, CEO at Hayashi International Promotions, in a statement. “Partnering with Live Nation allows us to keep doing this with greater scale, giving Japanese artists the opportunity to perform to new audiences and strengthening Japan’s position as a must-visit destination for major acts.”
Warner Music Group (WMG) partnered with Annual Acharia, an entrepreneur and talent strategist who founded the multi-platform production and distribution company Desi Hits! — which helped introduce Western artists like Lady Gaga and Britney Spears to South Asian audiences — to launch 5 Junction, a joint-venture label focused on discovering and developing U.S.-based artists of South Asian heritage while furthering the success of WMG’s existing artists from South Asia and its diaspora. The new label will collaborate closely with WMG’s India team, Los Angeles-based Warner Records and Toronto-based 91 North Records (a joint-venture label between Warner Music India and Warner Music Canada).
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EMPIRE signed a multi-year partnership with Cambodian music company Baramey Production. The deal will provide Baramey’s current and future roster — including its biggest star, VannDa — with global distribution, A&R support and industry connections. The Baramey roster also includes YuuHai, Vanthan, Zuana and North. “This deal is a game-changer,” said Laura Mam, CEO of Baramey Production, in a statement. “Now, Cambodian music is able to have a presence on the world stage, and EMPIRE will help us build careers for artists who have dreams to reach the international stage.”
Fan engagement platform Sesh announced it has raised $7 million in funding to date, led by Miura Global with participation from angel investors in the music and tech industries. Sesh will use the money to expand the capabilities of the platform, onboard more artists and enhance its technology. Announced simultaneously was the launch of Sesh’s “Member Card,” which lets fans “register and seamlessly download a digital pass to their phone’s wallet,” allowing them to receive direct push notifications from their favorite artists. Sesh allows artists full ownership of fan data, including email, location, name, date of birth and engagement insights, letting them cultivate their fan bases without going through third-party platforms. The company currently works with more than 250 artists, including Yeri Mua, Anitta, Alleh & Yorghaki, Mau y Ricky, Lasso, Timø, Nathy Peluso and Zoe Gotusso.
Dutch event management platform Stager signed a partnership with Spotify that will enable all users of the platform to list artists’ upcoming events at their venues and festivals directly on those artists’ official Spotify pages. According to Stager, more than 21,000 artists played a show at a venue, club or festival using the platform last year.
UnitedMasters partnered with EVEN, a direct-to-fan sales platform. Under the deal, UnitedMasters’ Partner artists (and, soon, its SELECT artists) will skip the waitlist and enjoy immediate access to EVEN resources, including direct music sales, daily payments, fan data ownership, marketing support and more. According to the companies, UnitedMasters artists such as Raheem DeVaughn, Casey Veggies, Stocks and Serayah have already enjoyed success on EVEN.
WieRok Entertainment Group acquired Christian music label Amplo Records, which was originally established in partnership with WieRok founders Lance and Tammie Wieland and Christian music industry executives Marcus Rixon and Jay Speight. Through the acquisition, singer/songwriter Nathan Sheridan, songwriters Phoebe Scott and Kolby Koloff, and songwriters/producers Andrew Barlow and Cole Tague will come solely under WieRok. The company, which launched its flagship WieRok Records label in January, also announced its expansion into the general market by establishing Wie3 Records, which signed “popera” vocalist David Ask.
Manifest Financial, a new financial solutions platform co-founded by Michael Cavallaro and Manny Alvarez that serves creators and artists, launched a business-banking mobile app and struck partnerships with music distributor Too Lost and hoo.be, an invite-only link-in-bio tool for brands and creators. “Creators face unique challenges that don’t fit conventional banking categories. That’s why we built Manifest Financial, to bridge this gap and provide the tailored financial services that the creator economy desperately needs,” said Cavallaro in a statement. Through the deal with Manifest, Too Lost founder/CEO Gregory Hirschhorn says Too Lost artists will enjoy “seamless access to smarter business banking solutions, faster payments, and financial tools designed for their careers.”
Honduran artist Key-Key’s indie label Latin Music Group — where he serves as partner alongside CEO/co-founder Neil Levine — announced a global distribution deal with The Orchard. As part of his strategic partnership with Latin Music Group, Key-Key will “now have access to a dedicated team and the resources to push his career even further, with global distribution ensuring his music reaches new international audiences,” according to a press release. “This isn’t just about making music; it’s about building something meaningful and lasting, and I’m incredibly grateful for the opportunity to turn my passion into a global and lasting impact,” the “Tengo Un Plan” singer said in a statement. — Griselda Flores
ASM Global struck a deal with Virginia Commonwealth University (VCU) to assume the management and operation of special events at the school’s 7,637-seat Stuart C. Siegel Center. Under the agreement, ASM will work to attract outside events, including concerts, to the arena.
Titan Content formed a strategic partnership with Imperial Music (a division of Republic Records) to collaborate on its upcoming girl group, AtHeart. The group — which released a new teaser video and launched official social media channels alongside the announcement — will share a “pre-debut introduction song and video” on March 14, according to a press release. AtHeart consists of seven members: Michi, Katelyn, Seohyeon, Aurora, Bome, Arin and Nahyun. The group’s formation was led by former SM Entertainment CEO Nikki Semin Han.
Spotify began accepting audiobooks from ElevenLabs, an AI software company that provides voice narration technology. Authors can now distribute their ElevenLabs content to Spotify and other audiobook retailers via audiobook distributor Findaway Voices. According to a blog post, all digitally narrated titles will be “clearly marked in the metadata on Spotify” and other platforms, while the book description “will be prepended with the first sentence stating, ‘This audiobook is narrated by a digital voice.’”
Korean entertainment group Starship Entertainment struck a copyright partnership with Chinese music platform NetEase Cloud Music. The deal brings Starship’s entire catalog, including Korean girl group IVE, to Chinese audiences. According to a press release, NetEase Cloud Music boasts 206 million monthly active users.
Universal Music Japan acquired a majority stake in A-Sketch, a Japanese artist management business and record label that boasts acts including Saucy Dog, Flumpool and Ayumu Imazu on its roster. A-Sketch is also home to Mash A&R, a rock management company in Japan that manages The Oral Cigarettes, FREDERIC and Saucy Dog. Under the deal, Universal Music Japan will acquire the stake in A-Sketch that’s currently owned by Amuse. A-Sketch will now operate as a label division within Universal Music Japan and continue to be led by A-Sketch representative director/president Nobuyuki Soma, who will report to Universal Music Japan president/CEO Naoshi Fujikura. “The acquisition will further bolster Universal Music Japan’s in-house artist management capabilities and expand its ability to drive new creative and commercial opportunities for its artists,” as stated in a press release.
Reservoir Media acquired U.K. dance and electronic label New State. The deal includes New State’s entire recorded music catalog consisting of more than 13,000 tracks by artists including Zero 7, The Beloved, Paul Oakenfold, Dirty Vegas, D:Ream, Double Trouble, Rebel MC and Congo Natty. Reservoir will continue marketing and releasing new music by New State artists via its Chrysalis Records label.
Create Music Group announced a strategic catalog acquisition and go-forward venture with Pack Records (a.k.a. Pack.), a New York and New Orleans-based indie record label, publisher and artist partnership company co-founded by Sky McElroy, Jett Wells and Gavin Chops. The companies previously established a publishing joint venture. Under the deal, Pack. and its artists will have access to Create’s proprietary technology, global distribution, data-driven marketing insights and monetization tools. Pack.’s roster includes aldn, CONNIE, Blood Cultures, daine, Dava and Godly the Ruler. Its catalog boasts recording and publishing rights “at the heart of internet and gaming culture viral moments,” according to a press release, including aldn’s “icantbelieveiletyougetaway,” Ezekiel’s “help_urself,” Godford’s “Downtown,” and Internet Girl’s “PULL UP,” as well as the CONNIE-produced “DIVE IN!” by JELEEL! and “Stupid” by Lexa Gates.
Hook, the AI-powered platform that allows users can legally remix songs and earn income for doing so, signed a strategic partnership with digital music distributor Too Lost. More than 300,000 artists and labels will be brought to Hook through the deal, including Teddy Swims, Tommy Richman, Ty Dolla $ign, Fivio Foreign, Kodak Black, Justin Beiber, Playboi Carti, James Blake, Pink Sweats and Emei. This is Hook’s fourth distribution partnership following deals with FUGA/Downtown, Revelator and Gyrostream.
iHeartMedia and the government communications office of the State of Qatar signed a multi-year partnership that aims to develop a state-of-the-art podcast studio in Qatar and release both original and existing podcast content to Arabic audiences. Under the agreement, iHeart will also offer specialized masterclasses to develop local podcasting talent and host global industry events, including annual Web Summit gatherings — the partnership was announced at this year’s Web Summit in Qatar — in an effort to position the Middle Eastern country as a regional podcasting hub.
Synch platform SourceAudio struck a deal with the Wolfman Jack estate through which the company will repurpose and discover new monetization opportunities for the radio legend’s shows. Through the AudioGenius tool on SongLab — SourceAudio’s AI-powered suite of music tools — the Wolfman Jack estate will be able to “reuse, repurpose, control, and monetize their valuable content archives across today’s digital platforms and ecosystem,” according to a press release. According to Tod Weston Smith, son of Wolfman Jack and president of Wolfman Jack Entertainment, AudioGenius “has significantly streamlined our process, allowing our Wolfman Jack team to access and retrieve clips from our extensive digital archives in seconds, rather than spending hours searching, and we are now able to generate additional revenue from previously underutilized or unused content.”
SoundCloud partnered with Ticketmaster and its self-serve event ticketing and marketing platform Universe in an integration that will allow SoundCloud’s Artist Pro users to create and manage events; sell tickets and share shows directly on the streaming platform; and enjoy amplification opportunities across SoundCloud, Ticketmaster and Universe. They will also have the ability to use Universe to manage and track ticket sales.
Sony Music Entertainment acquired Czech Republic-based record label Supraphon, furthering its expansion in Central Europe. The Supraphon roster includes recordings from artists such as Karel Gott, Lucie Bílá, Marek Ztracený, Škwor, Olympic, Hana Zagorová and Václav Neckář. A press release states that the Czech music market notched recorded music revenue of $84.1 million in 2023, with streaming boasting 60.1% of the total market with a volume of $50.5 million — an 18% increase from the prior year. The release adds that seven out of the top 10 songs and albums in the country in 2023 were put out by Czech artists. Libor Holeček will continue leading Supraphon as MD, Martin Kudla will remain as executive director and Iva Milerová, who was previously chairwoman of board of directors, will continue on in an advisory role.
Warner Music Italy and Warner Chappell Music Italy signed a deal to acquire the catalog of DWA Records, a leading Italo Disco label co-founded in 1989 by singer-songwriters and producers Roberto Zanetti and Francesco Bontempi. The agreement also encompasses the catalog of Extravaganza, DWA’s music publishing business. DWA’s catalog includes more than 250 masters including “The Rhythm of the Night” performed by Corona and written by Bontempi; “Happy” and “Uh La La” by Alexia; and “Baila” performed by Zucchero and written by Zanetti.
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MENA streaming service Anghami announced a new round of funding from OSN Group of up to $55 million, with a $12 million initial investment in a convertible note program. OSN and Anghami struck an initial partnership in April 2024, merging OSN+’s video streaming capabilities and 18,000 hours of content with Anghami’s portfolio of 100 million songs and podcasts. The companies claim video streaming subscribers grew 41% between April and October 2024. The new funds will allow the platforms to expand their content library, enhance the user experience using new technologies and strengthen their presence in the MENA region. It will additionally be used to implement innovations including AI-driven personalization.
Symphonic Distribution signed a global distribution deal with Taiwanese indie label Kafka By the Sea, whose roster includes Taiwanese rock band KST and indie-pop band Bubble Tea and Cigarettes. The first release under the pact was Sherry Z’s debut album Time.
Decentralized music community and discovery platform Audius struck a multi-territory licensing agreement with International Copyright Enterprise (ICE). The new deal establishes a pathway for more than 330,000 rights holders to receive royalties when their music is used on Audius in sub-Saharan Africa and Asia Pacific, among other territories.
U.K.-based live entertainment company ATG Entertainment acquired SOM Produce, a theater producer, operator and distributor based in Spain. Financial terms were not disclosed for the deal. SOM Produce, headquartered in Madrid, is a leading global producer and distributor of musicals and plays in the Spanish language. It manages five theaters in the center of Madrid — including Nuevo Teatro Alcalá, Teatro Rialto, Teatro Nuevo Apolo, Teatro Calderón and Teatro Amaya — and has produced more than 20 shows, including Mamma Mia!, The Book of Mormon, West Side Story, Grease, Chicago and Cabaret. ATG is majority owned by Providence Equity Partners.
Classical music label Pentatone signed a licensing partnership with Dutch promotion and distribution platform Collabhouse, which launched a pre-cleared artist music library in November. Through the deal, Pentatone will provide its entire public domain catalog to a broader community of creators, allowing composers, filmmakers, advertisers and more to work with musical works by composers including Beethoven, Bach, Tchaikovsky, Mozart, Vivaldi and more, “all interpreted by the most renowned artists,” according to a press release.
The Peoria Civic Center Authority and Prairie Home Alliance secured a naming-rights agreement for the 2,200-capacity theater within Peoria Civic Center for seven years. The venue will now be known as the Prairie Home Alliance Theater. Prairie Home Alliance is a locally owned and operated group of 10 home improvement companies across central Illinois. This is the first naming rights deal for the theater in its 42-year history.
Danish microphone producer DPA Microphones acquired the majority share of Vienna-based audio products company Austrian Audio. According to a press release, DPA is a leading manufacturer within several miniature microphone categories while Austrian Audio is strong in the large diaphragm microphone market. “Together, the brands provide a broader product range for discerning sound engineers in industries like broadcast, musical, theatre, live events and recording studios,” states a press release announcing the deal. “By joining forces, the brands will design and develop sophisticated, professional audio solutions that meet the evolving demands within the acoustical and digital fields, all while prioritizing the user experience.”
Boiler Room, a longstanding event and streaming series, has been acquired by European festival organizer Superstruct Entertainment. A representative for the company declined to disclose the terms of the deal.
Boiler Room was previously owned by ticketing platform Dice, which acquired it in 2021. Dice will remain Boiler Room’s official ticketing partner.
A statement on the deal notes that Boiler Room’s team will remain responsible for leadership of the business under Superstruct, “and it will retain its identity with active support for theirdevelopment through Superstruct’s global resources and expertise.”
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A representative for Superstruct confirms that Boiler Room will continue generating revenue through brand partnerships (Boiler Room has had long-term deals with Pernod Ricard and Ballantine’s), along with ticketed events and its apparel brand. While Boiler Room videos regularly rack up millions of streams on YouTube, Boiler Room makes almost nothing from this YouTube content, as it doesn’t own any rights to the music.
“As we turn 15 and enter our next stage of growth, we’re excited to be partnering with Superstruct for this chapter,” Boiler Room founder Blaise Bellville said in a statement. “We feel in good company with their roster of brands, they offer us new opportunities to grow, whilst understanding the importance of staying true to the authenticity that, at its core, is what makes Boiler Room special.”
“We are proud to welcome the talented team at Boiler Room, who have managed to consistently grow the platform over the last fifteen years whilst maintaining a distinct cultural approach,” added Superstruct Entertainment CEO Roderik Schlösser. “This partnership perfectly aligns with Superstruct’s mission to celebrate and amplify cultures through creativity, collaboration, and live entertainment. Boiler Room is in the best position it has ever been and we are excited to support them in their promising future ahead.”
In June, Billboard reported that global investment firms KKR and CVC had agreed to acquire Superstruct Entertainment from Providence Equity Partners. Superstruct — which has a portfolio of more than 80 events including the electronic festivals DGTL, Mysteryland, Parookaville, Brunch Electronik, along with Sziget, one of the largest music festivals in Europe, and the world’s largest heavy metal festival, Germany’s Wacken Open Air — was founded in 2017 by Providence and James Barton, a former Live Nation executive who also founded the Liverpool-based night club Cream. The terms of that deal were not disclosed, though the Financial Times reported that Superstruct sold for around €1.3 billion ($1.39 billion).
In the ‘00s, The Smashing Pumpkins frontman Billy Corgan looked at the disruptive nature of early social media platform MySpace and saw the death of the record label. It didn’t exactly work out that way — not with MySpace, not with Facebook, not with TikTok. In fact, the major music companies became adept at using these platforms to break artists and perpetuate their market power; if there’s a breakout song on TikTok, labels rush into an old-fashioned bidding war. While social media certainly disrupted the music business, it didn’t uproot the traditional record label model.
There have been numerous other game-changers over the years that failed — on their own, at least — to radically alter how major labels do business, including independent distribution. After TuneCore launched in 2006, major labels continued to sign artists and own their intellectual property, albeit to broader “360” deals that incorporated more than recorded music rights. Nor did the advent of streaming by itself reshape the structure of major record labels. The artists with the most streaming success are involved with major labels in one way or another, be it a traditional record contract, a joint venture or, in rare cases like Taylor Swift, a distribution deal.
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Corgan may have misjudged social media’s sole impact on record labels, but he wasn’t entirely wrong about its ultimate influence. When combined, social media, independent distribution and streaming form a potent combination that has changed the balance of power and induced major labels to change how they promote music around the world. This dynamic isn’t exactly new, but it was never clearer than in 2024. This year, major labels have increasingly embraced the role of being service providers to those parties who prefer to remain independent and retain ownership of their intellectual property.
A few years ago, Universal Music Group (UMG) was pouring money into superstar acquisitions such as Bob Dylan’s and Sting’s song catalogs. More recently, the company has been focusing on its artist services model. In the last three months alone, UMG acquired indie label group [PIAS] and agreed to acquire Downtown Music Holdings for $775 million, though the proposed deal has encountered opposition from the independent music community and will need to pass regulatory scrutiny before being finalized. The company also purchased Outdustry — which has an artist- and label-services arm that focuses on China, India and other high-growth emerging markets — and bought a stake in Chord Music Partners, giving UMG distribution and publishing administration duties for the more than 60,000 songs in the investment vehicle’s catalog.
In fact, 2024 played out much like UMG CEO Lucian Grainge said it would. His January memo predicted the company would continue to expand globally and offer labels outside of mature markets a “full suite of artist services” while “acquiring local labels, catalogs and artist services businesses.” To be fair, UMG was already on that path: In 2022, it acquired m-theory’s artist services company and installed its founders, JT Myers and Nat Pastor, as co-CEOs of Virgin Music Group to expand Virgin’s independent music division globally.
Warner Music Group (WMG) appears to have sensed the shifting landscape, too, as there has been a noticeable shift in messaging during Robert Kyncl’s tenure as the company’s CEO. In the Stephen Cooper era, WMG was the music community’s leading investor in Web3 startups. In contrast, Kyncl has chosen to focus on expanding WMG’s footprint globally. WMG briefly signaled its interest in acquiring Believe in March and April after the French company announced a CEO-led effort to take the company private. Notably, Believe has a global label services business and a presence in developing markets that take advantage of the “glocalization” of local markets and global streaming platforms’ ability to help music travel across borders. WMG ultimately passed on pursuing Believe, but Kyncl has followed his peers’ interest in emerging markets, purchasing stakes in Indian companies Divo and Global Music Junction.
The service model isn’t an entirely original approach. Grainge wrote that UMG is “creating the blueprint for the labels of the future,” but UMG is doing what major music companies have always done: following trends and buying independent companies that established a particular market. Sony Music already bought into the service model with The Orchard and AWAL, the latter purchased in 2022 for $430 million. Independents such as Believe, OneRPM and Symphonic Distribution have become established players by combining distribution and artist services, while investors have poured money into independents such as Create Music Group — which this year raised $165 million at a $1 billion valuation — and gamma, which is backed by $1 billion.
But the well-established blueprint was never more of a hot commodity than in 2024. In the music business, nothing signifies the relevance of a business model like the major labels’ desire to buy it and integrate it into their systems — especially when the largest music companies feel they have no choice. The holy trinity of social media, independent distribution and global streaming platforms has given artists an alternative to the much-derided major label record contract. Artists who want to own their intellectual property and have more creative control have never had more of the tools necessary to be independent. That includes financing options, such as advances from well-funded independents or royalty advances from a new breed of financial services companies. When there’s no need for radio promotion and shelf space at brick-and-mortar retailers, the independent model looks a lot more attractive — not only for artists but for the major labels that have become increasingly keen on buying into it.
Ironically, the major labels’ acceptance of the independents’ business model means the music business is becoming less independent. Trade groups such as the Association of Independent Music and IMPALA quickly spoke out against UMG’s agreement to purchase Downtown, just as they did with Sony Music’s purchase of AWAL. U.K. regulators ultimately concluded that AWAL was a “relatively small player” and that the deal did not substantially reduce competition. Time will tell if competition watchdogs feel the same about UMG’s much larger purchase of Downtown. In any case, the independents have proved that artist and label services businesses are a good fit for the modern music business. The next step was always going to be consolidation.
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.