We reported last week on Utopia Music selling publishing-tech firm Sentric to Believe, and speculated on what Utopia would be left with.
Well, one thing it hasn’t been left with is its CEO of music services.
Veteran publishing executive Roberto Neri, who joined Utopia in 2021, announced yesterday that he is moving to Believe to be its new CEO of publishing.
“The acquisition of Sentric acts as a first step for Believe in rolling out a global and comprehensive publishing business,” wrote Neri on LinkedIn. “Alongside [Sentric boss] Chris Meehan and the team, we will develop a comprehensive solution for songwriters and publishers at all levels.”
As for what Utopia Music will be focusing on now, in a statement to MBW the company said that it is aiming to “support the music industry with digital solutions for managing, monitoring, and processing royalties, and distributing the music we all love to listen to”.
That would suggest that the company intends to retain its distribution businesses (Absolute Label Services, Cinram and Proper) despite speculation that it may look to sell those too.
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