Universal acquires 49% stake in independent music powerhouse [PIAS]

Popular music group bought a minority stake in the independent music company[…][[PIAS]for an undisclosed amount.

This deal sees UMG acquire a 49% stake in [PIAS] Group, after the two companies formed a global strategic alliance in June 2021.

According to a press release issued on Wednesday (November 30), under their new agreement, “[PIAS] will remain completely independent and founders Kenny Gates and Michel Lambot will retain majority control of the company.”

The release adds that “UMG will not have a seat on the company’s board of directors”.

[PIAS] has more than 300 employees and two core departments: [PIAS] Label Group, which oversees the company’s various record label interests and [Integral] Labeling and Distribution Services, which provides support for its own in-house labels and over 100 independent label partners around the world.

Some of those label partners include ATO, Group of beggars, Bella Alliance, chrysanthemum, dominoesEpitaph, LSO, Mute, ninja tunes, party, secret groupExcessive and Warp.

Comments on the agreement, Sir Lucian GraingePresident & CEO, Universal Music Group, said: “The bold music-centric and independent culture Kenny and Michel have built over the past four decades provides a creative network important to a lot of artists.”

“The bold music-centric and independent culture that Kenny and Michel have built over the past four decades has provided an important creative network for so many artists.”

Sir Lucian Grainge, Global Music Group

Sir Lucian Grainge added: “While in the past there was much of a focus on ‘specialty versus independent’, it is clear today that the key difference in our industry is about those committed to development. artists versus those who are committed to quantity over quality.

“We share Kenny and Michel’s passion for developing artists and promoting culture, and we recognize that a healthy music ecosystem requires companies like [PIAS] who are committed to amplifying the best voices in independent music.

“We have had a great relationship with Universal Music Group since we announced our global strategic alliance with them last year.”

Michel Lambot, [PIAS]

Michel Lambot, co-founder of [PIAS]“We have had a great relationship with Universal Music Group since we announced a strategic global alliance with them last year,” said.

“Kenny and I are celebrating our 40th anniversary.order celebrate this year, and we remain as ambitious as we were when we began to grow our global presence and provide world-class service to the independent music community.”

“Today, we are competing with financial and technology giants, and a partner like Universal Music Group provides additional support for us to compete and thrive.”

Kenny Gate, [PIAS]

Kenny Gates, Co-Founder and CEO of [PIAS] “Today, we are competing with financial and technology giants, and a partner like Universal Music Group provides additional support for us to compete and thrive,” said.

“Universal has made it clear that they like us, they trust us and they need us, because they can’t do what we do and they appreciate it.

“For Michel and I, this is the work of our lives and an ongoing journey and I am very excited about the prospect of this new chapter in her life. [PIAS] . This move makes us stronger and secures the future of our brand, our employees and our partners while maintaining control of our destiny.”

Today’s news comes two months after the expiration (on September 21, 2022) of Universal Music Group’s 10-year ban in Europe from acquiring any property – or re-signing with any artist – in connection with their EMI-related divestment.

Recent MBW shownafter the end of post-EMI restrictions in September, Universal shall be legally free to access [PIAS] with a minority or majority share repurchase offer.

Global Music Business