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Impartial digital and bodily distribution/companies firm Redeye has been acquired by Exceleration Music for an undisclosed sum.
Redeye represents a number of of the world’s most significant independent labels, within the US and globally, together with Beggars Group, Domino, New West, Yep Roc, Sundazed, Saddle Creek, Mother+Pop, Kemado/Mexican Summer season, Stones Throw, Warp, Drag Metropolis, Actual Gone, Revolutionary Leisure, Carpark, !K7, Thrill Jockey, Luaka Bop, Partisan, Sargent Home, Ninja Tune, Barsuk, and Daptone, in addition to Exceleration’s personal labels.
Based by Tor Hansen and Glenn Dicker, Redeye is headquartered in North Carolina, with a workforce of over 120 throughout 15 places spanning the US, Canada, Europe, the UK and Australia.
Redeye additionally maintains what it calls a “strong European distribution operation” in Sweden (acquired via its merger with Border Music in 2019).
The acquisition, which, Exceleration notes marks a considerable enlargement of its operational attain, additionally encompasses Redeye’s in-house labels, Yep Roc and Sundazed, and its publishing firm Riff Metropolis Sounds.
Yep Roc is dwelling to artists like Nick Lowe, Dave Alvin, Aoife O’Donovan, Alejandro Escovedo, Chuck Prophet, and Jobi Riccio. Sundazed is a outstanding reissue label in the USA.
Below the phrases of the strategic transaction, Redeye founders Glenn Dicker and Tor Hansen have turn out to be shareholders in Exceleration Music.
Exceleration Music says that its Redeye buyout marks a “pivotal second” for its firm.
Exceleration was launched by 5 indie sector executives in January 2021, backed by what it described as “substantial funding capital”.
The music enterprise remains to be led by its group of authentic founders, together with Glen Barros (former CEO of Concord Music Group), Dave Hansen (Govt Chairman of Merlin and former GM of Epitaph), Charles Caldas (former CEO of Merlin), Amy Dietz (former GM of Ingrooves) and John Burk (GRAMMY-winning producer and former president of Harmony Data).
The US-headquartered firm says that it’s funded by investments from every of its companions, in addition to institutional and personal buyers.
Exceleration says that it has “focused on investing within the acquisition, manufacturing, and optimization of music rights” since its inception.
Amongst these investments had been Bloodshot Records, Kill Rock Stars, Mother+Pop, and SideOneDummy, and most lately, India-based indie label Azadi Data, which marked Exceleration’s enlargement into to Asia.
Following the Redeye deal, Exceleration Music says that its scope of operation now consists of two divisions:
- Its ‘established rights’ group, which includes what it calls “investments and partnerships” with labels and catalogs corresponding to +1 Data, Alligator, Azadi, Bloodshot Records, Candid, Heroic, Kill Rock Stars, Mother+Pop, SideOneDummy, The Ray Charles Basis/Tangerine Data, and now Yep Roc and Sundazed.
- Its newly-acquired distribution and label companies enterprise, which is able to proceed to function below the Redeye model, helmed by Dicker and Hansen. Exceleration says that it’s going to preserve Redeye’s present workforce and infrastructure.
Key executives at Redeye embody Michael Petkov, Head of Worldwide; Jason Taylor, Director of World Gross sales (Bodily and Digital); Laura Pittard, Director of World Advertising and marketing; Michael Howard, Affiliate V.P. of World Operations; Hank Stockard, World Enterprise Improvement Director; Sean Pecor, IT Director; and Jim Trenner, World Accounting Director.
Based on a press launch, the deal will present “unbiased music companions of each Exceleration and Redeye with a totally unbiased and well-resourced path to market; comprising worldwide bodily and digital distribution, in addition to label, advertising and marketing, and technical experience”.
“The addition of Redeye, Yep Roc, Sundazed and Riff Metropolis Sounds represents an essential enlargement of Exceleration’s general technique to strengthen the unbiased group.
Glen Barros, Exceleration Music
“The addition of Redeye, Yep Roc, Sundazed and Riff Metropolis Sounds represents an essential enlargement of Exceleration’s general technique to strengthen the unbiased group,” mentioned Exceleration Music associate Glen Barros.
“Redeye already gives a terrific service to a powerful set of first-rate indie labels searching for a distributor that may service each bodily and digital channels on a worldwide foundation.
“Along with Glenn, Tor and the Redeye workforce, we plan to develop Redeye’s already spectacular community and to collectively assist our present, and future label companions to actually thrive.”
“Working with the Exceleration workforce appears like increasing the household.”
Glenn Dicker, Redeye
Redeye co-founder Glenn Dicker, added: “Working with the Exceleration workforce appears like increasing the household.
“Sharing sturdy beliefs and a strategic imaginative and prescient, it appears like the subsequent pure step on our journey in direction of offering our world class distribution service to an expanded unbiased group.”
In January 2020, Beggars Group, one of many world’s greatest unbiased recorded music corporations, inked a US physical distribution deal with Redeye. Bodily distribution duties for Beggars’ releases and catalog had been beforehand dealt with within the US by Warner-owned unbiased companies arm, ADA.
UK-born Beggars joined each Domino Recording Co. and Saddle Creek in making the change to Redeye from January 1of that 12 months.Music Enterprise Worldwide