The proper MUSIC Group LTD (PMG) based on the UK entered the administration on Friday (February 28). Company’s assets, including physical distributors Distribution of proper music (PMD) was acquired by a Dutch -based distributor. Arton.
The appropriate person says that the physical music is distributed over. 5,000 With independent labels and service companies 13% British physical music market share.
The company reports that it has paid 63 million pounds In the last two years, musicians and labels.
News on appropriate distribution by Artone Utopian music.
According to Friday (February 28), a trading company in the appropriate music group will no longer be partnered with the appropriate group AG of Switzerland. Utopian musicThe bankruptcy process began in September 2024.
The ‘appropriate’ name has been adopted Utopia About two years after Utopia acquired an appropriate music group (January 2022), which was expanded by physical and digital music distribution. In March 2024, Utopia was reported that the name was turning into an appropriate group.
Drew Hill led Distribution of proper music It will remain as a manager for 18 years. Hill also acquired a stake in PMG assets.
Friday, the report added that the acquisition will enable customers of PMD services (including Absolute Label Services, Break, Cherry Red and Chrysalis/Blue Raincoat) and Artone (including Concord Music Group and public records).
According to the appropriate, sales have been agreed with a new many years of lease contracts for the warehouse of PMD in Dartford in the UK.
“The next step is an opportunity to secure the future of business and to provide customized services to independent artists and labels.”
Drew Hill
Hill said: “For 35 years, appropriate music groups have always been trying to move over for their partners. The next step is to secure the future of business and to provide customized services to independent artists and labels.
“I have worked closely with the distribution of Artones and Bertus over the years, and I will continue to defend the healthy and competitive physical distribution sectors that guarantee various choices together.
The physical form continues to enjoy the growing resurrection as a financial source of financial revenue for all sized artists. According to the times, the British physical music revenue reached £ 330 million in 2024, 6.2%more than in 2023, and VINYL album sales increased 1119 million pounds from 10.5%from music streaming (7.8%).
“If you take PMD to the Artone family, it guarantees continuous success and provides stability to your partners.”
JAN Willem Kaasschieter, Artone
Artone’s CEO JAN Willem Kaasschieter: “Artone is actively looking for an opportunity to expand deployment footprints, and the PMD is perfect. PMD played an important role in supporting British independent labels and artists.
“If you bring the PMD to the Artone product line, it guarantees continuous success and provides stability to your partners. Our expertise, financial strengths and extensive networks will support the long -term growth of business and maintain powerful and diverse physical music markets. We look forward to working closely with Drew and the appropriate team to be based on legacy. ”
Mark Supperstone, a partner of Evelyn Partners and a co -administrator of PMG, said: “We are happy to announce this sale that effectively secures the future of physical music distribution for the British independent label.
“I was very interested in acquiring the trading group, and I am pleased to complete the deal with Artone by working closely with Drew and his team for a while. We hope all of them will do their best. ”
“The joint acquisition of PMG trade firms in Artone and Drew Hill is a fantastic news about the independent community, which is excessive in the actual music market.”
Gee Davy, AIM
AIM’s CEO, Gee Davy, said: “The co -acquisition of PMG trade companies in Artone and Drew Hill is the fantastic news of the independent community, which is excessive in the actual music market. Drew’s 18-year experience of the appropriate music distribution combined with Artone’s Pan-European expertise will doubt that the British physical music sector continues to thrive. ”
“Our members, especially 270 indie stores, hope to do their best in new incarnations.”
Kim Bay Lee, the times
KIM BAYLEY, the CEO of Digital Entertainment and Retail Association, which accounts for more than 80% of the UK CD and Vinyl sales, added:
“So we are pleased that the appropriate music group, a major British indie distributor, now has a partnership with Artone and can enjoy a new life under the competent leadership of Dread Hill. We hope our members, especially 270 indie stores, will do their best in new incarnations. ”World music business
