Virgin Music Group Acquires Outdustry
• Virgin Music Group announced that it has acquired Outdustry, the market-leading artist and label services and rights management business focused on China, India and other high-potential markets. The acquisition brings to Virgin, Outdustry’s decade-and-a-half experience in these dynamic markets, where it will continue to operate its marketing services, publishing company, and label businesses under the Outdustry brand.
As part of the deal, Outdustry founder Ed Peto has been named Senior Vice President of International Strategy at Virgin Music Group, while retaining his CEO role at Outdustry. The London-based Peto (pictured) joins the company’s global leadership team to play a key role in charting the company’s growth strategy in China, India and other fast-growing regions, and will report to Virgin Music Group Co-CEOs JT Myers and Nat Pastor,working closely with Michael Roe, Managing Director of Virgin Music Group’s operations in Africa, Middle East, and Asia (AMEA).
Myers commented, “After more than 15 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. 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.”
In addition to its marketing services business, Outdustry has also built a music publishing operation, Outdustry Songs, which has landed dozens of cuts with stars within the Chinese pop landscape, and a record label, Outdustry Records, focused on surfacing the next generation of breakout stars from these territories. These enterprises will continue in partnership with Universal Music Publishing Group and Virgin Music Group, respectively.
“Bringing everything we’ve built at Outdustry into Virgin Music Group represents an enormous opportunity to expand our vision globally,” said 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.” [Photo by Abraham Joffee]
