There is more consolidation afoot in the digital-distribution market, with Universal Music confirming that it’s taking full ownership of independent distributor Ingrooves. UMG previously owned a minority stake in the company, which has reportedly been up for sale since early 2018.
Universal said that the deal represents the major label “strengthening its commitment to independent artists and labels”, and expects the acquisition to close by the end of March.
Ingrooves CEO Bob Roback will remain in charge of what will be (for now) a standalone unit within UMG. That said… “UMG will form a strategic partnership between its Caroline International division and Ingrooves to form a robust platform for distribution, marketing and label and artist services throughout the world.”