LONDON (CelebrityAccess) — Virgin Music Group announced the acquisition of Outdustry, the label services and rights management business focused on China, India and other burgeoning music markets.
As part of the acquisition, London-based Outdustry founder Ed Peto will join Virgin Music Group as Senior Vice President of International Strategy while also continuing to helm Outdustry.
In addition, Peto will join Virgin’s global leadership team, helping to shape the label group’s growth strategy in developing international markets.
He will report to Virgin Music Group Co-CEOs JT Myers and Nat Pastor, while collaborating with Michael Roe, Managing Director of Virgin Music Group’s operations in Africa, Middle East, and Asia (AMEA).
“After more than fifteen years working in China, India, and other territories, Ed and his team have built unparalleled experience and relationships in some of the world’s most important growth markets,” said Myers. “Ed will be a key player as we chart our global expansion plans. We’re happy to have him and his team onboard for this exciting next step in the evolution of Virgin Music Group.”
“Bringing everything we’ve built at Outdustry into Virgin Music Group represents an enormous opportunity to expand our vision globally,” added Peto. “It’s never been a more exciting time to be working in music and I’m looking forward to working closely with the incredible team that Nat and JT have assembled to create more opportunities for independent music entrepreneurs and artists all around the world.”
