Virgin Music Group has announced the acquisition of Outdustry, a leader in artist and label services and rights management across China, India and other high growth markets.
The acquisition, revealed on Wednesday, underlines Virgin's commitment to expanding its influence in some of the world's most dynamic music regions. Outdustry will continue its established marketing, music publishing and label services activities under the Outdustry brand, while founder Ed Peto will join Virgin Music Group as senior vice president of international strategy.
Based in London, Peto will oversee Virgin's strategic direction in China, India and other fast-growing regions, reporting directly to the co-CEOs of Virgin Music Group JT Myers and Nat Pastoras. He will work closely with Michael Roe, managing director of Virgin's Africa, Middle East and Asia operations.
“After more than fifteen years working in China, India and other regions, Ed and his team have built unparalleled experience and relationships in some of the world's most important growth markets,” said Myers. “Ed will be a key player as we map out our global expansion plans. We are delighted to have him and his team on board for this exciting next step in the evolution of Virgin Music Group.”
Peto said: “Bringing everything we've built at Outdustry to Virgin Music Group represents a huge opportunity to expand our vision globally. It's never been a more exciting time to be working in music and I look forward to working closely with the incredible team that Nat and JT have assembled to create more opportunities for independent music entrepreneurs and artists around the world.”
With a well-established footprint in Asia, Outdustry operates as a multifaceted company that includes Outdustry Songs, a publishing arm that has scored many hits with top Chinese artists such as Bibi Zhou, Kun, Jolin Chai, Chris Lee, Lu Han, Sunny, Jane Zhangand Pharaoh. Outdustry Records, the label division of the company, is committed to showcasing emerging talent in the region. Both Outdustry Songs and Outdustry Records will continue to work with Universal Music Publishing Group and Virgin Music Group, respectively.
Founded in Beijing in 2008, Outdustry has been instrumental in facilitating international success for artists such as Adel, Dua Lipa, Lauv, and Major Lazer in the markets of China and India. The firm has also been instrumental in landmark market entries for indie heavyweights such as Beggars Group and Merlin and has consulted for global brands including Spotify, PRS and Believe in Greater China.
from our partners at https://www.billboard.com/pro/virgin-music-group-acquisition-outdustry/
