Utopia Music
Utopia Music Buys Leading UK Physical Distributor Cinram Novum
LONDON — Swiss-based tech company Utopia Music is making further inroads into the record business with the acquisition of U.K. physical distributor Cinram Novum, which provides warehouse, fulfillment and distribution services to a number of labels, including Universal Music Group, Sony Music Entertainment and PIAS. Terms were not disclosed for the deal, which was done through Utopia’s U.K. subsidiary Utopia Distribution Services Limited. The acquisition marks a significant expansion of the company’s fast-growing music distribution business. In January, Utopia acquired Proper Music Group, the U.K.’s leading independent physical music distributor, which provides distribution services for 1,000-plus indie labels and service companies and counts Rough Trade, HMV and supermarkets Tesco, Mo...
Utopia Music Acquires Lyric Financial Amid Surge of Investment in Independent Music
Utopia Music’s strengths play well with Lyric Financial’s data analysis to determine the amount of financing it can provide an artist. Its core product is an online platform for creators, rights holders and collection societies that tracks global usage data and maximizes a catalog’s revenues — its tagline is “fair pay for every play.” A separate service for investors helps them value and assess risk when acquiring a recording or publishing catalog. In September, Utopia acquired artificial intelligence startup Musimap to improve recordings’ metadata — information about performers, songwriters and rights owners that requires accuracy for the parties to be paid properly. Investors and the companies they back are increasingly funding artists who look to Chance the Rapper, who put three a...
