LONDON (CelebrityAccess) — Sony Music Entertainment UK announced the acquisition of one of the UK's most successful indie labels, Ministry of Sound.
Launched in 1993 as a part of the nightclub empire founded by James Palumbo, Ministry of Sound has become one of the world's largest dance music labels, with more than 70 million in cumulative album sales, including 40 UK No. 1 albums and 21 UK No. 1 singles.
Ministry of Sound Recordings' label arm, led by David Dollimore, has produced records by some of the leading EDM artists, including g Eric Prydz, Example and Wretch 32, as well as developing artists such as Jodie Abacus, Louis Berry, MIAMIGO and Moss Kena.
As well, the label produces a wide variety of compilation albums and its sales amount to more than 18% of the compilation market in the UK, with brands such as The Annual, Dance Nation, Trance Nation and Clubbers’ Guide.
“This agreement underscores our ongoing commitment to investing in great artistry and hit music. On behalf of the entire Sony Music family, I’m excited to welcome the wonderful artists and talented team at Ministry of Sound Recordings to our line-up of world-class creative centers. I would like to send my congratulations to both Edgar and Jason," said Sony Music Chairman & CEO Doug Morris in a press statement announcing the deal.
Financial terms of the transaction were not disclosed.
