Swiss Fintech company Utopia Music has acquired the UK’s Absolute Label Services.
Included in the acquisition is Absolute Rights Management. Absolute’s distribution and services provider will be integrated into Utopia’s Distribution Services business unit, which launched in January 2022 with another acquisition. Absolute co-owners Henry Semmence and Simon Wills will join Utopia as VP, Distribution Services. They will work alongside Drew Hill, VP, Physical Distribution, and will report to Utopia’s Chief Operating Officer, Roberto Neri.
Absolute Label Services was founded in 1998 for independent artists and record labels. Its client base ranges from talent like Jake Isaac, edbl, Deep Purple, Beverly Knight, and McFly. Its existing customer base will continue to be serviced as part of Utopia.
“It is no secret that the music industry has a data gap. We are proud to be part of a company that wants to make a difference within the industry and help it grow,” say Semmence and Wills in a joint statement about joining the Utopia family.
“At Absolute, we pride ourselves on being the most trusted partner for labels. By joining the Utopia family, we can provide our clients with an array of new services and exponentially increase their business.”
Roberto Neri says the acquisition will further strengthen Utopia Music’s position within the industry.
“Absolute has an impeccable track record, and it’s our honor to welcome their team to Utopia family and increase our offering for artists, record labels, and distributors. Simon and Henry have a strong reputation as industry leaders and partners,” Neri adds.
“By working in tandem, we can enhance and supercharge our Utopia distribution offering delivering ‘Fair Pay for Every Play’ for creators and rights holders.”
Utopia Music has been on an acquisition spree since September 2021, snapping up companies. Here’s a peek at some of the acquisitions over the last few months.
- Musimap – September 2021
- Lyric Financial – October 2021
- ROSTR – December 2021
- ForTunes – December 2021
- Proper Music – January 2022
- Sentric Music Group – February 2022
- Absolute Label Services – February 2022