Support our efforts, sign up to a full membership!
(Start for free)
Register or login with just your e-mail address

Universal Music Group To Acquire Ingrooves Music Group

Hot Songs Around The World

Water
Tyla
306 entries in 20 charts
Stick Season
Noah Kahan
313 entries in 19 charts
Houdini
Dua Lipa
285 entries in 26 charts
Strangers
Kenya Grace
442 entries in 24 charts
Lovin On Me
Jack Harlow
293 entries in 22 charts
Popular
Weeknd, Playboi Carti & Madonna
266 entries in 18 charts
Lose Control
Teddy Swims
316 entries in 25 charts
Beautiful Things
Benson Boone
159 entries in 24 charts
Si No Estas
Inigo Quintero
283 entries in 17 charts
Greedy
Tate McRae
621 entries in 28 charts
Unwritten
Natasha Bedingfield
291 entries in 22 charts
Anti-Hero
Taylor Swift
615 entries in 23 charts
Cruel Summer
Taylor Swift
572 entries in 20 charts
Snooze
SZA
223 entries in 13 charts
Universal Music Group To Acquire Ingrooves Music Group
New York, NY (Top40 Charts) Universal Music Group (UMG), the world leader in music-based entertainment, is strengthening its commitment to independent artists and labels through an agreement to acquire Ingrooves Music Group, an innovative independent music distribution and marketing company. UMG has been a minority investor in Ingrooves since 2006, and under the agreement, will acquire the shares of Ingrooves that it doesn't already own. After the transaction closes, Ingrooves Chief Executive Officer Bob Roback will continue to lead the company as a standalone unit within UMG.

The acquisition of Ingrooves is expected to close before the end of the current quarter and complements UMG's existing distribution and marketing relationships with the global independent music community. As a longtime partner and client of Ingrooves, UMG has a deep understanding of the company and its innovative technology and data insights, and will work closely with the Ingrooves management team to provide additional resources and expanded geographic reach.

Additionally, UMG will form a strategic partnership between its Caroline International division and Ingrooves to form a robust platform for distribution, marketing and label and artist services throughout the world.

Boyd Muir, Executive Vice President, Chief Financial Officer and President of Operations for UMG, said, "I'm thrilled to advance UMG's long-standing relationship with Ingrooves, a company we already view as a member of our extended family. The continued success of the indie community is vital to the health of our industry, and through our investment in Ingrooves, we will strengthen the services we can offer to independent artists and entrepreneurs. I'm pleased to welcome Bob and his team to UMG and I'm looking forward to growing Ingrooves together."

Bob Roback, CEO of Ingrooves, said, "This acquisition by UMG represents the very best possible outcome for Ingrooves, our employees and our artist and label partners. Our mission at Ingrooves has always been to provide our clients with the very best services and maximize the value of their music. With UMG, we are gaining the resources, global reach and technology to take those efforts to another level. I'm excited at this opportunity and I'm thankful for the support of Boyd and Sir Lucian Grainge."

Since launching in 2002, Ingrooves has provided independent labels, artists and other content owners with innovative and scalable tools that include analytics, rights management services, and marketing solutions. The company combines its powerful technology platform and data-driven insights with a team of global music marketing experts to help labels and artists maximize their success.

About Ingrooves:
Ingrooves is a global music distribution company that provides marketing and rights management services for independent labels and artists. Ingrooves combines a powerful technology platform, data-driven insights and a team of global music marketing experts to help labels and artists maximize their revenue potential in today's dynamic music marketplace.

About Universal Music Group
Universal Music Group (UMG) is the world leader in music-based entertainment, with a broad array of businesses engaged in recorded music, music publishing, merchandising and audiovisual content in more than 60 countries. Featuring the most comprehensive catalog of recordings and songs across every musical genre, UMG identifies and develops artists and produces and distributes the most critically acclaimed and commercially successful music in the world. Committed to artistry, innovation and entrepreneurship, UMG fosters the development of services, platforms and business models in order to broaden artistic and commercial opportunities for our artists and create new experiences for fans. Universal Music Group is a Vivendi company. Find out more at: https://www.universalmusic.com.






Most read news of the week


© 2001-2024
top40-charts.com (S4)
about | site map
contact | privacy
Page gen. in 0.5560479 secs // 4 () queries in 0.0060009956359863 secs


live