A month earlier, according to Music Business Worldwide, UMG acquired the remaining 51% of PIAS, Europe’s largest independent music company. These acquisitions illustrate Universal’s recognition that this is where the revenue growth in the music industry is happening.

Although late to the party, this year Universal, through Virgin Music Group, acquired Downtown Music Holdings for $775 million in cash in December 2024. Downtown Music Holdings includes a number of companies, most notably CD Baby, Fuga, AdRev, SongTrust, and Downtown. Through these companies, Universal now owns independent music recordings, distrib... See more