AIM comment on Downtown sale

London, 16th December 2024

Following the news that Universal-owned Virgin Music Group is set to acquire Downtown Music, a comment from Gee Davy, CEO of the Association of Independent Music (AIM).

“The potential sale of Downtown Music – including FUGA, a longstanding favourite with independents – to Universal’s Virgin Music Group is more concerning news for the global independent music community. Following on from the recent PIAS/Integral acquisition, it plays into a continuing trend towards over-consolidation and reduction of independent routes to market. It is vital to uphold a true choice of partners for artists and labels and ensure that negotiating power does not become unbalanced. Only in this way can homegrown artists and businesses access fair deals, investment and growth.”