PORTLAND, Or. (CelebrityAccess) — Downtown Music Holdings, the parent company behind Downtown Music Publishing and Songtrust, announced plans to acquire AVL Digital Group
With a portfolio that includes influential DIY music distributor CD Baby, as well as AdRev, DashGo and Soundrop, AVL’s current client roster includes more than 900,000 artists, labels and other rights holders, representing the largest independent sound recording catalog in the music industry.
Collectively, AVL’s portfolio companies distribute and monetize over 10 million tracks across popular content streaming services, including Amazon, Apple Music, Spotify and YouTube.
Following the acquisition, which is expected to close in early April, AVL will continue to operate as a separate subsidiary from Downtown and will be led by CD Baby CEO Tracy Maddux, who will continue to be based in Portland, Oregon.
“Tracy and his team have built a portfolio of music businesses operating at unmatched scale. AVL’s technology, diverse offerings, and artist-first approach are well-positioned to power some of the fastest growing segments of the industry,” said Downtown Founder and CEO Justin Kalifowitz.
“This transaction will allow us to take the services we offer the independent music community to the next level,” added Maddux. “We are excited to continue to build leading platforms that help artists release, promote and monetize their music all around the world.”
The acquisition will bolster Downtown’s role in the world of music publishing, making them one of the leading providers of ‘full stack’ services for artists, songwriters, labels, music publishers. Downtown currently fields a team of more than 300 employees across fourteen markets in North America, Europe, Asia, Australia, and Latin America.
