Also: Flo Rida strikes a gaming partnership, Seat Unique raises $19 million, Myst Music signs an agreement with The Orchard and more.
Long left to bootstrap themselves, investors and majors are offering billions to buy stakes in independent distributors.
The company, which owns distributors CD Baby and FUGA as well as a slew of other music businesses, has held talks with several prospective buyers in recent months.
Artists like Olivia King are able to create a song, upload it to TikTok and distribute it to DSPs in mere minutes through the Icelandic app’s new partnership.
The music industry mainstay will oversee business development and marketing, among other responsibilities.
The deal to give UMG digital distribution rights to HYBE labels will last for 10 years.
Also this week: PPL establishes presence in India, KIDZ BOP re-ups with Live Nation and more.
DSTRO7 will exclusively distribute releases from González's Tamarindo Rekordsz and del Villar's DEL Records, which boasts Eslaban Armado on its roster.
The full-service music company wants to give labels and artists the "competitive edge to succeed."
UMG Commercial Services will handle BMG's vinyl and CD distribution starting in April 2024 as the companies explore "joining forces" in other areas.
