Universal aquires indie label group [PIAS]

Indie label group [PIAS] has been acquired by Universal Music Group (UMG), Billboard reports. [PIAS] co-founder Kenny Gates announced on Tuesday that he and fellow co-founder Michel Lambot were selling UMG their remaining shares to “allow us to offer a truly global distribution and services platform to the independent music community.” UMG had acquired 49% of [PIAS] Group shares in November of 2022, and the two companies began their partnership in 2021.

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Details that have been confirmed as part of the new arrangement include the merger of Virgin Music Group and [PIAS]’s services division [Integral], which provides physical and digital distribution services to more than 100 indie label partners including ATO, Beggars Group and Secretly Group.

The newly combined teams will provide “independent entrepreneurs with world class services and access to a bespoke, stand-alone international distribution network,” said [PIAS]. Reps for the firm and UMG declined to comment when asked if the merger would result in any job losses.

[PIAS] Label Group, which includes Play It Again Sam, harmonia mundi, Demain, Spinefarm, Source, and partner labels including ATO, Heavenly, Mute, and Trangressive, will be run as a “completely autonomous” client of Virgin Music Group, Music Business Worldwide reports, with Gates continuing as CEO and sitting on the Virgin Music Group board. “I am selling my shares not my soul,” Gates said in a statement, adding, “Our existing leadership team will continue to steer our day-to-day work and nothing will change culturally or commercially for our existing clients and partners; we will still maintain the same values that we have lived by since our launch over 40 years ago.”