The world of independent music is vast and broad.
For example, Merlin says it represents the rights of over 30,000 indie labels globally.
Meanwhile, Sony recently confirmed that The Orchard alone distributes records on behalf of 26,000 indie labels, while AWAL (another Sony company) represents the rights of over 20,000 independent artists.
And, of course, approximately 100,000 tracks are now uploaded each day on music streaming platforms – the vast majority of them from independent ‘DIY’ artists.
You can see why Kenny Gates last week argued that European trade body IMPALA — despite it claiming a membership of over 6,000, across indie labels and self-releasing artists — only represents “a tiny fraction” of music’s worldwide independent sector.
Now, over 200 employees of these indie companies have signed an open letter, distributed by IMPALA, addressed to Europe’s competition watchdog.
It urges the EC to conduct a “deep investigation” into Universal Music Group’s proposed acquisition of Downtown Music Holdings.
The letter’s signatories include significant representation from two leading indie music companies: UK-headquartered Beggars Group and US-headquartered Secretly Group.
They include 12 executives working for companies owned or co-owned by Beggars/XL, including 4AD, Everlasting Records, Matador, Popstock, Rough Trade, and Young, plus XL Recordings and Beggars Group.
Eight more executives have signed the letter from companies owned/co-owned by Secretly Group, including Dead Oceans, Numero Group, Jagjaguwar, Ghostly, Secretly Canadian, Secretly Distribution, Merge, and Secretly Group itself.
Cargo Independent Distribution is an additional signatory. According to recent company filings, Secretly Distribution (as BWSCD Inc.) owns 49% of Cargo Records UK (Ltd), with Beggars Group an additional minority shareholder.
Elsewhere, the letter’s signatories include 30 people representing trade bodies that are members of WIN (the Worldwide Independent Network), which has publicly backed IMPALA’s stance on UMG/Downtown. (IMPALA itself is a WIN member.)
Further signatories of the letter include Charles Caldas, co-founder of Exceleration Music, which launched in 2021 with “substantial investment capital” to acquire and roll up independent music companies.
The latest company acquired by Exceleration – Cooking Vinyl – is also on the IMPALA letter, courtesy of its founder, Martin Goldschmidt.
Other recently-acquired indies that have signed the letter include !K7, which was bought in April by the US-based Create Music Group.
Independent distribution/services company Create was valued at USD $1 billion last year, following investment from Chicago-HQ’d private equity company, Flexpoint Ford.
Additional well-known indies represented on the IMPALA letter include Domino, Epitaph, Hopeless, Sub Pop, and Playground, who are all members – alongside Beggars and Secretly – of the Organization for Recorded Culture and Arts (ORCA), a think tank for premium indie labels.
(ORCA members not represented on the IMPALA letter include Ninja Tune, Partisan Records, and Because Music.)
Elsewhere, the letter is signed by Blue Raincoat Music/Chrysalis Records, which is owned by the NASDAQ-traded Reservoir Media.
UMG’s Virgin Music Group revealed in December that it had agreed to buy Downtown Music Holdings LLC in a $775 million deal.
The EC then revealed in April that it was preparing to investigate the proposed deal.
The letter, addressed to Executive Vice-President Teresa Ribera at the European Commission, arrives two weeks before the EC’s provisional July 22 deadline to make its decision in an initial Phase 1 investigation into the proposed acquisition. A more in-depth ‘Phase 2’ investigation may follow.
You can read the letter in full below. [Note: XL Recordings is represented on the list by ‘Ben Beardsmore’ – this is presumably Ben Beardsworth, the company’s Managing Director.]
Executive Vice-President Teresa Ribera
European Commission
Rue de la Loi / Wetstraat 200
1049 Brussels
Belgium
4 July 2025
Dear Ms. Ribera,
We are the founders and CEOs of leading European and international music companies as well as trade associations. We normally write about music and culture and today we are also reaching out about competition.
On behalf of the independent music community, we are writing to express our serious concerns regarding the proposed acquisition of Downtown Music Holdings LLC (“Downtown”) by Universal Music Group N.V. (“UMG”), currently under investigation by the European Commission – Case M.11956.
The music industry in the EU is a cultural and economic success story, with recorded music revenue growing at 8.7% in 2023 and valued at €5.2 billion2. It is home to some of the most recognisable names in music, alongside thriving independent businesses.
But we can’t take this for granted. While the EU’s music industry is indeed growing, this growth is uneven and lags behind other global markets. At the same time, changes are being made to how streaming revenues are shared, over which the independent sector has no say. A level playing field is essential to support a thriving music ecosystem that delivers benefits for the economy, culture and innovation.
Everyone has a role to play – from the biggest music company in the world to the independent disruptive start-up uncovering new genres and sounds. But when acquisitions like this one occur and start to tip the scales too far, we must act.
The proposed acquisition by UMG represents a serious risk to that balance. Across Europe, UMG already controls over 40% of the recorded music market – near double the second biggest player3. By absorbing Downtown’s distribution, royalty accounting, and rights management capabilities – services used by thousands of companies and artists across the independent sector – UMG would further entrench its already significant market power.
The deal would place a significant chunk of essential infrastructure under the control of the market leader. Many independent music businesses are already tied to Downtown’s services, meaning that we would have to rely on our biggest competitor to connect our artists and their music to their fans.
That’s why it’s critical that the deal is reviewed through the lens of its “control share” over the digital markets economy, as well as the physical market, not just share by revenue.
This isn’t just a simple “investment” in one of the world’s most prominent independent companies; it is about control.
The implications are profound. This consolidation would further enable UMG to act as a gatekeeper to some of the sector’s best services, shaping which music is heard, promoted, and monetised. Such power carries risks not only to the commercial fortunes of independent businesses, but to the creative breadth and diversity of music itself.
A concentration of this magnitude would narrow the range of voices, styles, and cultures that reach the public. It would give UMG further power to shape digital services, influence monetisation thresholds and extract more, at the expense of the independent sector. That would reduce choice for consumers, stifle experimentation, and undermine Europe’s role as a vibrant incubator of musical and artistic expression. Fans will hear less of the new and more of the same. Artists working outside the commercial mainstream will struggle to find traction. And a once-thriving creative economy will begin to stagnate.
This acquisition also provides a key competitive advantage by allowing UMG to collect data from rivals using its services. This data is far reaching, from distribution information – including artists and song trends, and performance on digital platforms – all the way through to critical business information such as pricing, contractual terms and strategic relationships. Being able to access all of this data would give UMG backdoor access to other competing businesses in the market and strengthen its already advantageous position even further.
Independent music companies play a vital role in promoting music innovation, fostering diversity and protecting culture. To fulfil that role, we must have fair and non-discriminatory access to the best infrastructure in the music economy. And not be forced into structural dependence on our biggest competitor who is also shifting payment models on digital services.
We therefore urge the European Commission to open a detailed phase two investigation to examine the deeper structural consequences of this transaction. The proposed acquisition poses a clear threat to effective competition, innovation, and the growth of the music industry across the EU and globally.
We must keep music open.
- Ludovic Le Strat, President, 23.23
- Manuela Nikele, General Manager, 375 Media GmbH
- Ed Horrox, Managing Director, 4AD
- Cecilia Crespo, General Manager, A.S.I.Ar – Asociación de Sellos Independientes de Argentina
- Dr. Richard James Burgess MBE, President and CEO, A2IM – American Association of Independent Music
- Felippe Llerena, Director, ABMI – Associação Brasileira da Música Independente
- George Seay, Owner, Acrophase Records
- Petra Deka, Head of Publishing, ACT Music+Vision GmbH+CO.KG
- Magnus Bjerkert, CEO, Adrian Recordings
- Gee Davy, Chief Executive, AIM – Association of Independent Music
- Joe Clarke, Interim Chair, AIM Ireland – Association of Independent Music Ireland
- Maria Amato, CEO, AIR – Australian Independent Record Labels Association
- Toni Verona, President and General Manager, Alabianca
- Sam Valenti, Co-CEO; CEO, All Flowers Group; Ghostly Intl
- Sergi Roig Torrubiano, Director – Chief Officer, Altercat records
- Cormac O’Halloran, Director, Always The Sound
- Joana Negrão, , AMAEI – Associação de Músicos Artistas e Editoras Independentes
- Ruth Koleva, President, ANMIP-BG – Association of Independent Music Publishers and Producers in Bulgaria
- Andrzej Dąbrowski, Board Member, ANPM – Alians Niezależnych Producentów Muzycznych
- Boris Horvat, Director, Aquarius Records
- Sebastian Cowan, Owner, Arbutus Records
- Petra Reiter, Manager, Artist Factory Music
- Stéphane Laick, Cofounder, AT(h)OME; FELIN – Fédération Nationale des Labels et Distributeurs Indépendants
- Pär Winberg, Owner, Atenzia Records
- Lars Leverenz, Head of Label, Audiolith
- Marco Rossi, Owner, Azzurra Music
- Johann Günther, Founder, Backlash Music
- Arne Thamer-Steinwärder, Co-Founder & CEO, Backseat PR & Labelservices
- Christoph Hallerberg, PR & Coaching, Backseat PR & Labelservices
- Sebastian Król, Founder, Backseat PR & Labelservices
- Mathieu Dassieu, CEO, Baco Music
- Karl Bader, CEO , Bader/Molden Recordings
- Kai Florian Becker, Founder – Label Manager, Barhill Records
- Katie Garcia, Founder, Bayonet Records
- Martin Mills, Chair, Beggars Group
- Paul Redding, CEO, Beggars Group
- Nils Kacirek, Musician, Bello Neon Records
- Dan Waite, CEO, Better Noise
- Danny Akalepse, Owner & Musician, Big Crown Records
- Leon Michels, Owner; Musician & Producer, Big Crown Records; El Michels Affair
- Miguel Angel Sancho, Director, Blau Producciones
- Dietmar Hoscher, Founder, Blind Rope Records
- Jeremy Lascelles, CEO and Co-Founder, Blue Raincoat Music/ Chrysalis Records
- Hadi El Azzi, Chairman, BMYD – Bağımsız Müzik Yapımcıları Derneği
- Randy Melibajew, Managing Director, Book of Raw GmbH
- Henrietta Bauer, CEO / Managing Director, Bretford Records / What Is Happening? I Feel It Everywhere! GmbH
- Phil Hill, Owner & Founder, Cargo Independent Distribution
- Dario Giovannini, Managing Director, Carosello Records
- Liza Bantegnie, Cofounder, Cartelle
- Anne-Laurence Chambon, Director, Carton Records; Maison Tempête
- Ester Petri, Managing Director, Carus-Verlag GmbH & Co. KG
- Jeff Bratton, Owner, Cascine
- Ben O’Connor, Label Manager, Chapter Music
- Guy Blackman, Label Manager, Chapter Music
- Andrew Cash, President and CEO, CIMA – Canadian Independent Music Association
- Christof Ellinghaus, Founder – CEO, City Slang
- Ian Ilavsky, Co-Owner, Constellation
- Martin Goldschmidt, Co-Founder and Chairman, Cooking Vinyl
- Jordi Freixa, Director, Cooperativa Montgri
- Alexander Gramlich, Founder, copaseDisques
- Robert Litsen, CEO, Cosmos Music
- Simon Platz, Managing Director, Cube Records Ltd
- Eduardo Jordão, General Manager, CultManagement Lda.
- Bianca Eysenbrandt, Owner, Dackelton Records
- Dario Draštata, Executive Director, Dallas Records; RUNDA – Regional Association of Independent Discographers in Adria
- Javer Tomas Y Tio, General Manager, Darlalata
- Phil Waldorf, Co-CEO, Dead Oceans
- Borja Torres, Music Supervisor, Discos Buenos
- Antonio Céspedes Pérez, Director General, División Sonora Producciones
- Ricardo Fernández Arroyo, Communication Director, División Sonora Producciones
- Clare Whitlock, Director Commercial & Business Affairs, Domino Recording Company Ltd.
- Laurence Bell, CEO, Domino Recording Company Ltd.
- Nigil Mack, CEO, drink sum wtr
- Verena Boessmann, Co-Owner, Dunstan Media
- Manuel Sanz, Director, Ecléctica Records/ Ecléctica Management
- Dr. Sabine Meier, Managing Director, Edition Roland Musikverlag GmbH
- Pierangelo Mauri, Founder, Edizioni ZYX Music; Net’s Work’s & Songs
- David Aguado, Director, El Tragaluz
- Denis Kappes, Co-owner, Eliterecords
- Dario Raimondi, Founder – Label Manager, Energy Production
- Ines Collarte, Director, Entrebotones
- María Pellicer Lara, Director, Eo Música
- Roger Dorresteijn, Managing Director, Epitaph Europe
- Enrique Perea, A&R, Everlasting Records
- Mark Kitcatt, Co-owner & chair, Everlasting Records; Popstock
- Charles Caldas, Partner, Exceleration Music
- Patrick Tilg, Producer, Feberwolle
- Björn Mathes, Co-Founder / CEO, FerryHouse GmbH & Co. KG
- Adeline Ferrante, Publishing director, Fougue
- Marcus Herbert, Label Manager, From Lo-Fi to Disco!
- Silvana Battisti, Label Manager, From Lo-Fi to Disco!
- Serafino Perugino, Founder, Frontiers Records
- Ian Westley, Co-Owner, Full Time Hobby Music LTD
- Nigel Adams, Co-Owner, Full Time Hobby Music LTD
- Carl-Fredrik Häggqvist, CEO, Owner, Gazell Records AB
- Nenad Borovčak, CEO, Geenger Records
- Pavle Eftimovski, Managing Partner, Glitch Records
- Chris Eckman, CEO, Glitterbeat Records
- Alexander Waldron, Owner & CEO, Greco-Roman Ltd
- Simon Kessler, Director, Greenpiste Records
- Lenz Hein, Label Manager, Grönland
- Louise Sansom, Director, founder, Hidden Track Records
- Louis Posen, President, Hopeless Records
- Per Faeltenborg, CEO, Hot Stuff AB/Svenska Energy Rekords & Publishing AB
- Aymeric Genty, CEO, I.O.T Records
- Stephen O’Malley, Label Owner, Ideologic Organ
- Francisca Sandoval, President, IMICHILE – Asociación Gremial Industria Musical Independiente de Chile
- Dylan Pellett, General Manager, IMNZ – Independent Music New Zealand
- Helen Smith, CEO, IMPALA – European association of independent music companies
- Katja Vauhkonen, Executive Director, Indieco – Suomen riippumattomien levy- ja tuotantoyhtiöiden yhdistys
- Anca Lupes, Executive Director, INDIERO – Asociatia a producatorilor si editorilor de muzica independenti din Romania
- Andreas Ryser, Founder, IndieSuisse – Association of Swiss independent music labels and producers
- Alexandre Cazac, Artistic director, cofounder, InFiné
- Hannes Tschürtz, Founder & Managing Director, Ink Music
- Pedro Marques, Director, Invict Sound & Vision
- Darius Van Arman, Co-CEO, Jagjaguwar; Secretly Distribution
- David Morel, Director, Jarring Effects
- Calvin Johnson, Founder, K Records
- Tom Nieuweboer, CEO, K7!
- Lio Cerezo, Owner / A&R, Kanine Records
- Tony Presley, Label Manager, Keeled Scales
- Rajk Barthel, Founder – Owner, Kick The Flame Publishing GmbH
- Gilles Dutrève, Director, La Granges à Sons
- Isabella Viertbauer, Founder, Label 4
- Peter Cronemeyer, Owner, Laika-Records
- Daryl Fidelak, Founder, Lampshade Media
- Andreas Jantsch, CEO & Founder, Las Vegas Records
- Helmut Heuer, Owner, Légère Recordings
- Tanja Michaelis, Founder – Managing Director, Made_in_Germany – music GmbH
- Robert Stieler, Owner – Managing Director, Major Label
- Zsolt Jeges, Founder, Mamazone Records; HAIL – Hungarian Association of Independent Labels
- Mats Hammerman, CEO, Massproduktion i Sundsvall AB
- Chris Lombardi, C-founder, Matador
- Gerard Cosloy, Co-founder, Matador
- Patrick Amory, Co-founder, Matador
- David Buder, Co-Founder & CEO, Matches Music
- Oliver von Felbert, Founder, A&R and label manager, Melting Pot Music GmbH
- Mac McCaughan, CEO, Merge Records
- Mik Christensen, Label Manager and Partner, Mermaid Records
- Jorge Otero, Director, Meseta Records
- Anders Mörén, Owner, Misty Music AB
- Adam Weisman, Musician, Mixed Salad
- Walter Gröbchen, CEO, Monkey Music
- Marta Sampaio, Manager, Monster Jinx
- Miran Rusjan, Founder, Moonlee Records
- Theresa Langner-Schibranji, Founder, Morinoko
- Larry Bringsjord, CEO, Owner, MTG Music; FONO – Norwegian Association for Independent Record Labels
- Javier De Esteban, CEO, Music Adders
- Annalea Bertelsen, Board Member, Music For Dreams
- Geert De Blaere, Founder – Owner, N.E.W.S. nv; BIMA – Belgian Independent Music Association
- Carol von Rautenkranz, Managing Partner, Napa Sounds GmbH
- Mario Limongelli, Founder, Nar International PMI – Produttori Musicali Indipendenti
- Neil Grant, Founder – Manager, Neil Grant Media & Promotion
- Bruno Cariou, Director, Neomme
- Elin Trogen, CEO, NONS Records
- Jon Madsen, Managing Director, Nordic Music Society
- Christian Pliefke, Founder, Nordic Notes / CPL-Musicgroup
- Derek Birkett, Director, One Little Independent Ltd
- Beatriz Concepcion, Director, Oso Polita
- Vittorio Cigala, Managing Director, OYEZ!
- Dagobert Böhm, Director, Ozella Music
- Ciaran Conroy, Co-CEO, Paragon Records
- Brian Scally, Co-CEO, Paragon Records
- Andy Widder, Founder, Part Records / Rockin‘ Rollin‘ Products
- Mario Rossori, Founder, Pate Records
- Vedran Meniga, CEO, Pdv Records
- Maria Romana Trainini, Managing Director, Peer Southern Productions
- Fabian Burbano, Director, Play Abc Sl/Abc Music
- Jonas Sjöström, Chairman and Founder, Playground Music Scandinavia
- Johan Alm, co-owner, PNKSLM Recordings AB
- Matthias Broeckel, Director, PORK PIE
- Mathias Schwarz, Managing Director, Powerline Agency OHG
- Martin Koller, Owner, ProMedia GmbH
- Stefan Groß, Owner, Q-rious Music
- Axel Franzén, Owner, Rama Lama Records
- Daniel Meteo, Founder & Co-Owner, Random Musick Publishing GmbH
- Eva Pyko, Managing Director, Random Musick Publishing GmbH
- Riku Paakkonen, Founder & Managing Director, Ranka Kustannus
- Paulina Parvanov, CEO, Raspberry Soda
- Elaine McCann, Head of Label, Reckless Records
- Nelly Santamarta, Owner & Chair, Registros de Cultura
- Eva Santamaría Molina, Publishing Manager, Republic Network Oü
- Etienne Tricard, Cofounder, Rescue + Return Records
- Anne-Flore Levacher, Head of projects, Roche Musique
- Geoff Travis, Founder, Rough Trade
- Jeanette Lee, Founder, Rough Trade
- Jeff Casazza, Owner / A&R, Run For Cover
- Matt Werth, Owner/CEO, RVNG Intl
- Caleb Braaten, Founder, Sacred Bones Records
- Branko Paić, Managing Director, Scardona
- Henrik Guemoes, Managing Director, Schubert Music Publishing GmbH
- Nuno Saraiva, Founder-Director, SCL / Lusitanian
- Justin West, CEO, Secret City Recordings
- Ben Swanson, Co-CEO, Secretly Canadian
- Chris Swanson, Co-CEO, Secretly Group
- Filip Lundgren, CEO, Septembernatt
- Eva Wilke, CEO, Owner, Silence AB
- Barbara Preisinger, Founder – Owner, Slices Of Life
- Joakim Haugland, Owner, Small Town Supersound
- Eva Karman Reinhold, CEO, Owner, Smilodon/Karman Innovative Consulting; SOM – Svenska Oberoende Musikproducenter
- Alejandro Varela, Owner & Chair, S-Music Records
- Maurice Summen, Owner, Staatsakt / Fun in the Church
- Fredrik Holmgren, CEO, StarTracks AB
- Margit Sarholz, Musician, Sternschnuppe Verlag GbR
- Werner Meier, Musician, Sternschnuppe Verlag GbR
- Kees van Weijen, President, STOMP – Stichting Onafhankelijke Muziekproducenten
- Gugai MacNamara, CEO, Strange Brew
- Jonathan Poneman, Co-Founder, Sub Pop
- Megan Jasper, CEO, Sub Pop
- Tony Kiewel, Co-President, Sub Pop
- Bo Magnusson, co-owner, Subspace Communications AB
- Julian Scheufler, Producer, Südpark Studio München
- David Dickenson, Founder, Suicide Squeeze Records
- Wolfgang Koch, Owner, syborgmusic
- Volker Sonntag, CEO, TAG-7
- Tue Kjerstein, Partner and co-managing Director, Tambourhinoceros
- Kristoffer Rom, Partner and co-managing Director, Tambourhinoceros; DUP – Danske Uafhængige Pladeselskaber
- Detlef Engelhard, CEO, Termidor Musikverlag & Timba Records GmbH&Co.KG
- Jakob Sørensen, CEO and Founding Partner, The Bank
- Tony Morley, Managing Director, The Leaf Label Ltd
- Ken Shipley, President, The Numero Group
- Rob Sevier, CEO, The Numero Group
- Mauro Farina, Founder, The Saifam Group
- Gerald Oppermann, Founder – Owner, Timezone GbR
- Teddy Maier, Founder, Tonzoo
- Tweety Gonzalez, Owner & Chair, Twittin records
- Sonia Duran, General Manager, UFI – Unión Fonográfica Independiente
- Ari Stern, Founder, Underwater Peoples / Stern Records
- Ina Schulz, Head of Label, Unique Musikverlag GmbH
- Guilhem Cottet, Director-General, UPFI – Union des producteurs phonographiques français indépendants
- Christoph Dohr, Owner, verlag dohr köln
- Matthias Möbius, Owner, viamas gmbh
- Alexander Hirschenhauser, Board Member, VTMÖ – Verband unabhängiger Tonträgerunternehmen, Musikverlage und MusikproduzentInnen Österreich
- Jörg Heidemann, Managing Director, VUT – Verband unabhängiger Musikunternehmer*innen
- Stephan Bourdoiseau, President, Wagram Music
- Kevin Fleming, Managing Director, Warp Records
- Brian Sampson, Owner, Western Vinyl
- Doug Warner, Owner, Wharf Cat Records
- Noemí Planas, CEO, WIN – Worldwide Independent Network
- Jared Jones, Owner, Winspear
- Ben Beardsmore, Managing Director, XL Recordings
- Caius Pawson, Founder, Young
- Tobba Andersson, Owner, Zorch Production
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