The world of independent music is vast and broad.<\/p>\n
For example, Merlin<\/strong> says<\/a> it represents the rights of over 30,000<\/strong> indie labels globally.<\/p>\n Meanwhile, Sony recently confirmed that The Orchard<\/strong> alone distributes<\/a> records on behalf of 26,000<\/strong> indie labels, while AWAL (another Sony company) represents the rights of over 20,000<\/strong> independent artists.<\/p>\n And, of course, approximately 100,000 tracks<\/strong> are now uploaded each day on music streaming platforms \u2013 the vast majority of them from independent ‘DIY’ artists.<\/p>\n You can see why Kenny Gates<\/strong> last week argued<\/a> that European trade body IMPALA \u2014 despite it claiming a membership of over 6,000, across indie labels and self-releasing artists \u2014 only represents “a tiny fraction”<\/strong> of music’s worldwide independent sector.<\/p>\n Now, over 200 employees<\/strong> of these indie companies have signed an open letter, distributed by IMPALA, addressed to Europe’s competition watchdog.<\/span><\/p>\n It urges the EC to conduct a “deep investigation” into Universal Music Group\u2019s proposed acquisition of Downtown Music Holdings.<\/span><\/p>\n The letter’s signatories include significant representation from two leading indie music companies: UK-headquartered Beggars Group<\/strong> and US-headquartered Secretly Group<\/strong>.<\/p>\n They include 12 executives working for companies owned or co-owned by Beggars\/XL, including 4AD, Everlasting Records, Matador, Popstock<\/strong>, Rough Trade, and Young<\/strong>, plus XL Recordings<\/strong> and Beggars Group<\/strong>.<\/p>\n Eight more executives have signed the letter from companies owned\/co-owned by Secretly Group<\/strong>, including Dead Oceans, Numero Group, Jagjaguwar, Ghostly, Secretly Canadian, Secretly Distribution, Merge<\/strong>, and Secretly Group <\/strong>itself.<\/p>\n Cargo Independent Distribution<\/strong> is an additional signatory. According to recent company filings<\/a>, Secretly Distribution (as BWSCD Inc.) owns 49%<\/strong> of Cargo Records UK (Ltd), with Beggars Group an additional minority shareholder.<\/p>\n Elsewhere, the letter’s signatories include 30 people<\/strong> representing trade bodies that are members of WIN (the Worldwide Independent Network), which has publicly backed<\/a> IMPALA’s stance on UMG\/Downtown. (IMPALA itself is a WIN member.)<\/p>\n Further signatories of the letter include Charles Caldas<\/strong>, co-founder of Exceleration Music, which launched in 2021 with “substantial investment capital” to acquire and roll up independent music companies.<\/p>\n The latest company acquired by Exceleration<\/a> \u2013 Cooking Vinyl<\/strong> \u2013 is also on the IMPALA letter, courtesy of its founder, Martin Goldschmidt.<\/p>\n Other recently-acquired indies that have signed the letter include !K7<\/strong>, which was bought in April<\/a> by the US-based Create Music Group<\/strong>.<\/p>\n Independent distribution\/services company Create was valued at USD $1 billion<\/strong> last year, following investment from Chicago-HQ’d private equity company, Flexpoint Ford<\/strong>.<\/p>\n Additional well-known indies represented on the IMPALA letter include Domino, Epitaph, Hopeless, Sub Pop, <\/strong>and Playground<\/strong>, who are all members \u2013 alongside Beggars and Secretly \u2013 of the Organization for Recorded Culture and Arts (ORCA), a think tank for premium indie labels.<\/a><\/p>\n (ORCA members not represented on the IMPALA letter include Ninja Tune, Partisan Records<\/strong>, and Because Music<\/strong>.)<\/p>\n Elsewhere, the letter is signed by Blue Raincoat Music\/Chrysalis Records<\/strong>, which is owned by the NASDAQ-traded Reservoir Media.<\/strong><\/p>\n