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

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.