Last week, news broke of talks for BMG to potentially acquire Concord. Now another prominent music company is fluttering its eyes at potential suitors: DistroKid.
MBW reported that the company has enlisted Raine Group and Goldman Sachs to drum up a potential $2bn-plus acquisition. That’s up from the $1.3bn valuation in 2021 when DistroKid raised funding from VC firm Insight Partners.
With more than two million artists on its books – and a claimed 30%-40% share of all new music releases – DistroKid seems like an attractive acquisition for someone, whether that be a company from the private-equity world or the music industry.
That said, if one or more major labels wave their wallets in its direction you can expect more protests – and calls for regulators to step in – from the independent sector.
UMG’s $775m acquisition of Downtown Music seems set to be approved in the EC, but any effort to snaffle DistroKid by the company or its rivals would certainly ignite another big row within the industry.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
