Universal Music Group has purchased PIAS, certainly one of Europe’s greatest impartial music corporations. After buying a 49-percent share of the corporate in 2022, UMG is now the label group’s majority shareholder, although PIAS will maintain CEO Kenny Gates in place and says its labels will stay totally autonomous. “I’m promoting my shares not my soul,” Gates stated in a press launch, saying the UMG partnership has up to now benefitted PIAS artists.
In addition to the group’s personal labels, equivalent to Play It Once more Sam, and label companions—together with Mute, Heavenly, Transgressive, and ATO—the deal consists of its companies division Integral, which distributes music for indie giants together with Beggars Group and Secretly Group. Virgin Music Group has partnered with Integral as a part of the deal.
Michel Lambot, who co-founded PIAS with Gates in 1983, stated in a press launch that he had had “some issues as as to if it was even potential” to work alongside UMG. “However,” he added, “I’m completely happy to say I used to be flawed—our two corporations have tons in frequent together with groups that share an actual ardour for music and our relationship so far has been fruitful, convivial and all the pieces we hoped it could or not it’s.”
Gates added that “nothing will change culturally or commercially for our present shoppers and companions.”
Requested if the merger would lead to job losses, reps for PIAS and UMG declined to remark to Billboard.
