of the bidding for French music group and distributor Believe in April, Warner Music Group is shopping for an alternative distribution company that could help it gain market share in the competitive space that serves independent creators and labels — and it’s hired a top music investment banker from Goldman Sachs to lead the effort.has said the company is prepared to build in-house the technology and services he thinks it needs. Now he’s ready to buy them as well.
A WMG spokesperson declined to comment for this story. A representative for Downtown, which owns CD Baby, also declined to comment, except to say that Downtown “is singularly focused on continuing to grow our business and support our clients’ success.” Representatives for DistroKid did not immediately respond to a request for comment.a formal offer in April.
UMG and Sony have invested tens of millions in recent years buying rival startups in the space. A minority shareholder since 2006, UMG Focusing WMG’s A&R more on capturing opportunities, particularly in genres that are just beginning to experience growth, was one of Kyncl’s top 2024 agenda items highlighted in a New Year’s Dayto all staff. In April, WMG’s publishing division, Warner Chappell Music , partnered with ReverbNation, BandLab Technologies’ premium artist services platform, to identify and sign emerging songwriters.
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