'Business As Usual' As Universal Music Group Acquires [PIAS] Group

The world’s largest music company, Universal Music Group, has gotten even bigger with the news that it has finished acquiring the Belgian-born [PIAS] Group.

The news comes years after it was first announced that UMG had acquired 49% of the company, with the remainder being acquired from co-founders Kenny Gates and Michel Lambot for an undisclosed fee.

As per a statement from UMG, the acqusition sees them taking on two main aspects of the group, including [Integral], their services division which provides physical and digital distribution services to independent labels from around the world.

The other part of the equation is the acquisition of the [PIAS] Label Group, which includes labels such as Play It Again Sam, harmonia mundi, Demain, Spinefarm, and Source, and partner labels such ATO, Heavenly, Mute, and Transgressive.

UMG have also asserted that the Label Group will remain “completely autonomous” as it moves forward.

As part of the acquisition, it’s been announced that Gates has signed a long-term contract to remain as CEO of [PIAS] alongside sitting on the Virgin Music Group main board and advisory group.

“I am selling my shares not my soul,” Gates said in a statement. “Since agreeing a strategic alliance with UMG in 2021 we have found them to be supportive and engaged partners who have added real value to our offering.

“The decision by myself and Michel to relinquish our remaining shareholdings in the company is a pragmatic one that will allow us to offer a truly global distribution and services platform to the independent music community,” he adds.

“Our existing leadership team will continue to steer our day-to-day work and nothing will change culturally or commercially for our existing clients and partners; we will still maintain the same values that we have lived by since our launch over 40 years ago.”

In a statement provided to TheMusic, PIAS Australia/Inertia Music Managing Director Ben Suthers has indicated very little will change when it comes down to hos the local subsidiary will operate.

“It’s business as usual at [PIAS]/Inertia as we continue to champion independent music and help bring new Australian artists to the world,” said Suthers. “We’re all super excited for the next chapter in Inertia’s storied history.”

[PIAS] Group was formally launched in 1983 following Gates and Lambot's initial meeting in 1981. Launching as an import business in 1982, the business officially launched the next year as a distributor, with constant growth and expansion taking place over the coming decades.