It appears that Concord Music is currently discussing a potential purchase with digital music platform Stem. This information has been obtained by The Hollywood Reporter. At this stage, the specifics of the deal, which is being brokered by the Raine Group through Fred Davis and Joe Puthenveetil, have not yet been disclosed. Music Business Worldwide speculates a $50 million figure, but a source from The Hollywood Reporter claims that number is significantly off base, suggesting that negotiations are still ongoing for what could potentially be a partial sale instead of a full acquisition.
Headquartered in Nashville and with additional locations in Los Angeles, New York City, and London, Concord Music is a comprehensive entity that includes a label group (including Concord Records, Concord Jazz, Fantasy Records, Rounder Records, and Fearless Records, among others), a music publishing division (boasting catalogs like REO Speedwagon’s, Kiss’s, and Cheap Trick’s songs), as well as a theatrical branch dedicated to licensing, script publication, and cast recordings.
OR
Concord Music, based in Nashville with offices in Los Angeles, New York, and London, is made up of several divisions: its label group (Concord Records, Concord Jazz, Fantasy Records, Rounder Records, Fearless Records, etc.), music publishing (REO Speedwagon, Kiss, Cheap Trick songs), and a theatrical division for licensing, script publication, and cast recordings.
OR
Concord Music, headquartered in Nashville with offices in Los Angeles, New York, and London, is an extensive enterprise consisting of its label group (Concord Records, Concord Jazz, Fantasy Records, Rounder Records, Fearless Records, etc.), music publishing (REO Speedwagon, Kiss, Cheap Trick songs), and a theatrical division for licensing, script publication, and cast recordings.
Established in 2015 by Milana Rabkin Lewis (CEO), Stem offers tools for distribution, payment, and financing to musicians, songwriters, producers, and their teams. These tools empower artists to work independently, allowing them to distribute their music directly with a clear, transparent path to revenue across various streaming platforms and consumption channels. Furthermore, Stem automates the calculation and distribution of royalties, ensuring fair compensation for all involved parties.
By combining with Concord, Stem can gain a system for distributing resources, enabling it to tap into large volumes of data as well as advanced, contemporary tools.
In 2023, Stem, a company that secured a $250 million credit deal with Victory Park Capital, was considered very competitive in the market. A source revealed that multiple parties expressed interest in acquiring it, including Sony Music and Warner Music Group. At present, Concord is being distributed through Universal Music Group.
Reps for Concord and Stem could not be reached for comment.
Record companies with deep pockets are finding distribution companies increasingly attractive as they compete for market share. With fewer artists opting for traditional record deals and retaining ownership of their music, distribution has become a significant contributor to growth. The Concord deal is recent, occurring just months after Universal Music Group acquired Downtown Music Holdings, the parent company to distributors like CD Baby and FUGA.
Record companies having deep financial resources find distribution companies more appealing as they vie for market share. With fewer artists choosing traditional record deals and keeping control of their music, distribution plays a major role in growth. The Concord deal took place recently, following Universal Music Group’s acquisition of Downtown Music Holdings, the parent company to distributors such as CD Baby and FUGA.)
An industry source notes that nowadays, it’s rare for the rights holder to own the master copies of a work. Instead, distribution is increasingly vital as companies compete to become the fourth significant player in the market.
Another tech leader expresses, “Independent artists require access by labels. It’s primarily about the users. Labels rely on their user base. There’s little desire for the traditional major label setup. Instead, major labels will likely transform into service providers.
It remains undecided whether every major record label will attempt to acquire a distributor. Previously, Warner Music Group had expressed interest in buying Believe, a French company that owns TuneCore’s music distribution service, but ultimately chose not to make an offer after some time. More recently, at a Morgan Stanley conference, as reported by Billboard, WMG CEO Robert Kyncl hinted they might create their own distributor instead.
“What I can tell you is that we’re not willing to grow this at all costs,” he said.
Read More
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- Alec Baldwin’s TLC Reality Show Got A Release Date And There’s At Least One Reason I’ll Definitely Be Checking This One Out
- Cookie Run Kingdom Town Square Vault password
- Judge Fines Oregon Man with $120 Million in Crypto Fraud Case
- ‘The Last of Us’ Gets Season 2 Premiere Date
- Unveiling the Enchanting World of Peer-to-Peer Crypto: A Witty Guide
- NEIGHBORHOOD Unveils SS25 Collection Featuring Keffiyeh-Inspired Pieces
- Disney+ Lost A Ton Of Subscribers After The Company Raised Prices, But It Didn’t Seem To Matter For Another Streamer
- After The Odyssey’s First Look At Matt Damon’s Odysseus, Fans Think They’ve Figured Out Who Tom Holland Is Playing
- Khao Yai ‘Art Forest’ Shakes Up Thailand’s Art Scene
2025-03-12 00:54