Utopia Music’s recent reorganisation has seen its CEO depart, as well as a proportion of its staff laid off. Now one of the companies bought during its acquisitions splurge in 2021-22 is also on its way out.
Rostr is the music-industry directory co-founded by former Spotify exec Mark Williamson, which Utopia acquired in December 2021. However, the recent re-org means it doesn’t fit with how the parent company plans to evolve.
Or, in the official wording: “Utopia purchased Rostr in December 2021 with the intent to strengthen its direct offering towards creators. As of the strategic reorganization, Utopia will now focus on serving creators through third parties via their B2B offering.”
And thus Rostr has been sold back to Williamson and his co-founder Adam Watson, also ex-Spotify. “We have unfinished business helping to build a more connected entertainment industry,” promised Williamson.
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