Virgin Music Completes Downtown Acquisition
• Virgin Music Group (VMG) announced the completion of its acquisition of Downtown Music Holdings LLC. It was concurrently announced that Downtown CEO Pieter van Rijn has been appointed Chief Operating Officer. He will remain based in Amsterdam and report to co-CEOs Nat Pastor and JT Myers. Pictured, (l-r): JT Meyers, Pieter van Rijn, and Nat Pastor.
Downtown Founder Justin Kalifowitz confirmed he is stepping away from the company he founded in 2007, sharing a Founder’s Letter on Downtown’s website, and Andrew Bergman, previously Chairman of Downtown, will transition into a senior advisory role.
Downtown collectively serves over 5,000 business clients and more than four million creators in 145 countries. Today, the company has core divisions across Artist & Label Services, Distribution, and Music Publishing, and its portfolio of businesses includes FUGA, Downtown Artist & Label Services, CD Baby, Downtown Music Publishing and Songtrust.
Pastor said, “Pieter’s appointment signals our intent to bring these businesses together thoughtfully and strategically. This is about making both Virgin Music Group and Downtown even better — preserving their distinct strengths while increasing the investment, technology and global resources available to independent entrepreneurs. Pieter’s experience and leadership make him the right person to help guide us forward.”
van Rijn remarked, “This combination enhances the choice, service and global reach available to the independent community. I’m grateful to Justin and Andrew for their vision in building Downtown, and to Nat and JT for their trust as we enter this next chapter. Our focus is clear: strengthen what makes both companies special and deliver even greater value to the entrepreneurs we serve.”
Myers commented, “Today recognizes the extraordinary company the Downtown team has built. Justin’s pioneering spirit — and the leadership of Andrew, Pieter and colleagues worldwide — created an organization defined by its powerful belief in independent creators. We deeply respect what this team has built and are committed to backing it, protecting what makes Downtown successful, and expanding opportunities for the global independent community.” [Photo by Damon Casarez]
