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Business News Deals Labels & Publishers
Downtown acquires FUGA
By Andy Malt | Published on Thursday 23 January 2020
Downtown Music has announced its latest acquisition – through its AVL Digital subsidiary – in the form of FUGA. The Dutch digital distribution company will continue to operate as a standalone business within the Downtown group.
“We could not be more enthusiastic about becoming part of the Downtown portfolio”, says FUGA CEO Pieter van Rijn. “This acquisition will give FUGA the backing to achieve our global ambitions in this space so we can continue serving the independent music community, developing our service offering and improving our technology. We share a common business approach and philosophy with Downtown, one rooted in providing control and flexibility for creators and rights holders – it is a perfect fit”.
Downtown bought AVL Digital last year, bringing DIY distributor CD Baby and some other related services into the group. It allowed the wider Downtown business, which was more focused on the songs side of the music industry via its core publisher and Songtrust division, to properly launch itself in the recorded music domain.
The FUGA purchase significantly expands the Downtown group’s involvement in recordings and distribution. The Dutch company offers a wide range of content delivery and distribution services, including to other distributors.
Downtown CEO Justin Kalifowitz adds: “The exceptional team at FUGA and their unique focus on providing best-in-class capabilities has put the company at the forefront of empowering the fastest growing sector of the music industry. Following our acquisition of AVL, integrating FUGA is a natural next step for Downtown in developing businesses that support a more equitable and innovative music ecosystem”.
