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UMG Acquisition of Downtown Risks ‘Two-Tier Music Market,’ Warns WIN CEO
UMG's Downtown deal sparks more calls for European regulators to investigate from independent music leaders.
Echoing the concerns of other orgs, Planas warns that the deal would significantly undermine market competition, threaten cultural diversity, and jeopardize the long-term viability of the independent music sector. By acquiring Downtown’s assets — including CD Baby, FUGA, Songtrust and Curve — UMG would gain control over infrastructure vital to thousands of independent artists and labels, along with access to confidential data that could be used to undermine competitors. Earlier this month, IMPALA executive chair Helen Smith and AIM CEO Gee Davy voiced Planas’ concerns, arguing that the consolidation would further entrench UMG’s dominance and reduce competition, limiting opportunities for smaller players and eroding consumer choice.
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