Major music label Warner Music Group is reportedly planning an acquisition bid to ingest digital music company Believe, which specializes in assistance to, and advocacy of, independent artists.
On the face of it, there are evident concerns from the perspective of indie artists and their advocacy groups. The Association of Independent Music is one such group, and it has released a statement of concern. It is voiced by AIM CEO Silvia Montello:
“The potential acquisition of Believe by Warner Music is gravely concerning. This would play into an aggressive and worrying trend of major label groups buying up independent labels and distributors, further consolidating the global recordings market and damaging the health of the independent sector. It is vital that we maintain a wide choice of distribution partners for those artists and labels who wish to remain independent, while ensuring that the growing independent sector retains access to avenues for financing and remains an attractive option for investment.” –Silvia Montello, AIM CEO
Warner is not the only takeover suitor. Financial Times reports that the label giant plans to make an offer of at least 17 Euros per share. That offer entered the conversation soon after a private equity group proposed 15 Euros per share.
AIM represents and supports the UK indie music community, specifically. That community represents a third of the UK’s recorded music market, according to an info sheet sent to RAIN. ” AIM’s members range from the largest, most respected record labels and associated music businesses in the world to DIY or self-releasing artists and the next generation of entrepreneurs in music,” we are told.
