Indies are ‘gravely concerned’ by WMG’s bid for Believe and TuneCore

A top independent music trade group is expressing concern over Warner Music Group’s aggressive bid to acquire independent music conglomerate Believe.

Believe, which operates a large artist and label services arm, also owns DIY distributor TuneCore and record labels Nuclear Blast, Naïve Groove Attack, Play Two, and AllPoints.

If the deal is completed, it would mean that one of the largest independent music companies will be owned by a Major label.

“an aggressive and worrying trend”

“The potential acquisition of Believe by Warner Music is gravely concerning. This would play into an aggressive and worrying trend of major label groups buying up independent labels and distributors, further consolidating the global recordings market and damaging the health of the independent sector” says Silvia Montello, CEO of the UK’s Association of Independent Music (AIM). “It is vital that we maintain a wide choice of distribution partners for those artists and labels who wish to remain independent while ensuring that the growing independent sector retains access to avenues for financing and remains an attractive option for investment.”

Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.