Global music company Downtown Music Holdings (Downtown), announced recently that its subsidiary, AVL Digital Group (AVL), has acquired FUGA®, the Netherlands-based B2B music technology and services company.
Joining Downtown Music Holdings’ portfolio of music distribution, artist and label service businesses, FUGA a B2B music technology and services company will continue to function as a standalone business within Downtown’s suite of distribution and monetization capabilities operated across AVL.
As part of a broader enterprise, FUGA, its clients and partners will benefit from expanded resources, infrastructure and global scale to more quickly bring to market added services and unparalleled innovation for music industry rights holders.
With a flexible technology platform that provides content management, workflow and distribution services, delivering to more than 260 different digital service providers globally, FUGA enables distributors, record labels, artist services companies and other rights holders to directly reach the world’s music streaming market.
FUGA provides full service marketing, promotion, monetization and label services to the rapidly growing independent music sector. At present, more than 500 different businesses, such as labels, artist platforms, distributors and other rights holders around the world rely on FUGA’s technology and services to support their operations.
“We could not be more enthusiastic about becoming part of the Downtown portfolio. 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,” said FUGA CEO Pieter van Rijn.
“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 Music has been capitalising on the global growth in music recording which is now controlled approximately by 35 percent of independents. [Music Press Asia, MPA]