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As Downtown Sells to Virgin, Its Publishing President Says Revenue Is Up 40%

Downtown's publishing president says revenue is up 40% amid its sale to UMG, with expected revenue of $200 million in 2024, a 40% increase from 2023.

Three years after Downtown Music sold its 145,000-song catalog — including works performed by Aretha Franklin, David Bowie, Bruno Mars and Beyoncé — the president of its publishing division says it makes more money than it did when it owned copyrights. Since Stephenson took the lead, the publishing division has signed deals with indie rockers The National, Spirit Music Group and Peso Pluma ’s Double P Records. This past summer, “Parade” by French composer Victor le Masne, a Downtown client, became the official theme song for the Paris Olympic and Paralympic Games.

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