Yesterday’s press release from Absolute Label Services had us at “Exciting projects from Kula Shaker, Alice Cooper, Busted…” Hopefully that includes a triple-headliner tour, but as you may have guessed, this isn’t the main news.
The UK-based firm is independent again, after its original leadership team “reacquired” the company from Utopia Music.
This is just 17 months after Utopia bought Absolute as part of a distribution rollup that included physical-focused firms Proper Music Group and Cinram Novum.
Utopia announced a new £100m warehousing and logistics contract for the latter companies in May, but its label-services arm has now flown the nest.
Absolute was keen to stress its financial health as part of the news, saying that its revenues are up 25% year-on-year across both label services and neighbouring rights.
“We are committed to exploring new collaborations, forging strategic partnerships, and harnessing cutting-edge technologies to elevate our label services to even greater commercial growth and success,” said shareholders Henry Semmence, Simon Wills, Debs Cutting and Mark Dowling in a joint statement.
Tools: platforms to help you reach new audiences
Tools :: Wyng
Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…