More independent music bodies have been criticising UMG’s planned acquisition of Downtown Music this morning.
“UMG trying to present this as an investment in the independent ecosystem is fooling no one. This is wealth extraction from the independents, another step in UMG’s relentless path to dominance and stifling competition,” said Noemí Planas, CEO of WIN.
The global independent labels body wants regulators to block the deal.
US indies body A2IM’s CEO Dr Richard James Burgess has also criticised the acquisition, saying it “continues a troubling trend of consolidating independent music infrastructure, following acquisitions of InGrooves, MTheory, and PIAS”.
Burgess continued: “This increasing level of market concentration chips away at the competitive landscape, making it increasingly difficult for truly independent artists and companies to operate freely and equitably.”
WIN has also published critical quotes from member organisations in Australia, Brazil and Argentina this morning.
