Association of Independent Musicians Expresses Concern Over Warner/Believe Potential Acquisition

The Association of Independent Musicians (AIM) in the UK has actually revealed issues over the possible Warner Music acquisition of Believe.

Objective is a not-for-profit company that represents and supports the UK independent music neighborhood, that makes up a 3rd of the UK tape-recorded music market. Objective’s members vary from big, reputable record labels and music companies to DIY or self-releasing artists. OBJECTIVE exists to level the playing field for UK independent music companies, which is why CEO Silvia Montello is revealing issues.

“The prospective acquisition of think by Warner Music is seriously worrying,” states Montello. “this would play into an aggressive and stressing pattern of significant label groups purchasing up independent labels and suppliers, even more combining the international recordings market and harming the health of the independent sector.”

“It is important that we preserve a large option of circulation partners for those artists and labels who want to stay independent, while guaranteeing that the growing independent sector keeps access to opportunities for funding and stays an appealing choice for financial investment.”

A few of the music organizations represented by AIM consist of 4AD, Black Acre, Beggars Group, Chrysalis/ Blue Raincoat, CTRL Music, Domino Recording Co, FAMM, Finesse Foreva, Hospital Records, HQ Familia, The Leaf Label, Ninja Tune, NQ Recordings, Numbers, Partisan, Transgressive, Scruff of the Neck, Secretly Canadian, Stones Throw, Supernature, Warp, and XL Recordings.

Warner Music Group on Thursday validated its interest in obtaining French digital music business Believe SA at a rate basis of “a minimum of EUR17 per share.” WMG states it is presently waiting for access to the due diligence details asked for on February 27, which it thinks about essential to enable it to send an official proposition for acquisition.

“WMG would supply Believe with tactical assistance and monetary stability to assist the advancement and development of the business, consisting of by accelerating its growth into brand-new locations,” stated WMG CEO Robert Kyncl about the possible offer.