Randal B.’s Post

View profile for Randal B., graphic

Check out my links VIA: linktr.ee/codelyfe

New Post: Downtown Music Holdings Board Exploring Sale - https://lnkd.in/gsnSExnM - The board of Downtown Music Holdings, the parent company of independent distributors CD Baby and FUGA as well as a number of other publishing and rights administration businesses, is exploring a sale, sources familiar with the deal tell Billboard. Related Labels Competing With Distributors Creates More Options for Creators  03/15/2024 The publishing administrator for the catalogs of John Lennon and Yoko Ono, Miles Davis and the Wu-Tang Clan, among many others, Downtown has held talks with private equity firms and at least one major music company, as its longtime backer, the family of the late Douglas Myers, looks to exit its investment, according to two of those sources who spoke on condition of anonymity because the talks are private. The fast-growing independent sector of the music industry has seen a flurry of dealmaking activity in the past year, as both outside investors and traditional music companies shop for ways to control more of the market that services and distributes the music of do-it-yourself artists, songwriters and indie labels. In June, the consortium composed of Denis Ladegaillerie, EQT and TCV bought 95% of the outstanding shares of of French music company Believe after Warner Music Group backed out of an acquisition bid the major floated earlier in the year. Later that same month, the Chicago-based private equity firm Flexpoint Ford bought a stake in Create Music Group for $165 million. Last year, Apple veteran Larry Jackson raised about $1 billion and purchased distributor Vydia as the engine to launch his new company gamma, while Exceleration Music bought indie distributor Redeye for an undisclosed sum. Downtown declined to comment on a possible sale beyond an emailed statement that said, “There has always been strong market interest in and excitement for our platform. We remain steadfastly focused on serving our clients and expanding our business by continuing to drive innovation across the global music industry.”   The market share of recorded music revenue generated by labels and artists that release music outside of the major-label system has been growing globally for around a decade. Non-major labels and self-releasing artists’ collective share of the recorded music revenue market grew from 28.6% in 2015 to 36.7% in 2023, according to research by MIDiA. Founded by Justin Kalifowitz in 2007 as a publisher in New York, Downtown quickly grew into a global company with more than 20 offices around the world, and its scale makes it among the more attractive acquisition targets in this segment of the music industry. It r

Downtown Music Holdings Board Exploring Sale

Downtown Music Holdings Board Exploring Sale

shipwr3ck.com

To view or add a comment, sign in

Explore topics