Downtown Music Justin Kalifowitz Andrew Bergman

There is change at the top of Downtown Music Holdings, with longtime CEO Justin Kalifowitz shifting to a role as executive chairman. His replacement is a familiar face though: current chief operating officer Andrew Bergman will take over on 1 September.

“With Andrew managing day-to-day operations for Downtown, I’m looking forward to continuing to work closely together in advancing the organisation’s strategic development at an accelerated pace,” said Kalifowitz in a statement.

The changes follow a period of aggressive growth and acquisitions for Downtown, the latter including CD Baby’s parent company AVL Digital Group, distributor Fuga and digital marketing firm Found·ee.

Meanwhile, in April this year Downtown sold its owned and co-published copyrights catalogue to Concord in a deal rumoured to be worth $300m-$400m. The company said then that it planned to be “focused exclusively on the fast-growing music services sector”, and hoped to generate more than $600m of revenues from that business in 2021.

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