Published
Mon, Dec 5, 2022, 12:35
- The Belgian company, which distributes labels like Warp, Ninja Tune and Domino, will remain in the control of its founders, Kenny Gates and Michel Lambot.
![Universal buys 49 percent stake in independent music giant [PIAS] image](https://imgproxy.ra.co/_/quality:66/aHR0cHM6Ly9zdGF0aWMucmEuY28vaW1hZ2VzL25ld3MvMjAyMi91bWctcGlhcy00OS5qcGc=)
Universal Music Group (UMG), the world's largest music rights company, has bought a 49 percent stake in independent music giant [PIAS] Group, AKA Play It Again Sam.
Announced last week, the deal is part of a partnership between the two companies, first revealed in 2021. UMG's minority stake will mean [PIAS]—which runs its own labels as well as distribution and other services for 100-plus outlets—remains independent and under the control of its Belgian founders, Kenny Gates and Michel Lambot.
"These days we're competing with finance and tech giants and a partner like Universal Music Group provides the additional support for us to compete and grow," said Gates. "Universal made it clear that they like us, they trust us and they need us, because they can't do what we do and they value it highly."
As Music Business Worldwide reports, the deal was made possible after UMG's ten-year ban on buying certain assets and signing certain artists in Europe and the UK ended in September. Read more about the case in another piece by MBW.
Founded in 1983, [PIAS] Group is currently split into two main divisions: [PIAS] Label Group, which oversees several in-house labels, and [Integral] Distribution Services, which partners with labels around the world. [PIAS] Group employs around 300 people across 16 offices.
[Integral]'s list of partners includes Warp, Brownswood, Domino, Ninja Tune, Mute, Secretly Group and Beggars Group, which represents 4AD, Rough Trade, XL and Young, among others.
"This move makes us stronger and secures the future of our brand, our staff and our partners while maintaining control of our destiny," Gates added.
Earlier this year, Four Tet signed a global and exclusive publishing deal with UMG.
Correction, December 6th: A previous version of this article incorrectly said Defected is distributed by [PIAS]. It's actually distributed by ADA.