Dark Star Records is now a part of the largest most powerful digital distribution company in the world. The Orchard and the Independent Online Distribution Alliance (IODA), the two largest digital aggregators in the United States, have now merged. And, Sony Music Entertainment will be a strategic investor in the combined entity, sources tell Billboard Magazine. As part of the deal, Sony will own at least 50% of the merged company, the sources add. As a result of the deal, the merged company will have revenues of about $130 million.
This deal comes in the wake of the merger between INgrooves and Fontana. Shamrock Capital acquired Fontana from the Universal Music Group and merged it with INgrooves, leaving the major as an investor with a 15%-20% stake in the combined entity. Dark Star Records the hard rock, metal music label who came in on the ground floor with IODA has been a part of the merger since day one. “We now have more options then ever for our artists” Quotes Dark Star Records label president Jeffrey A. Swanson. “And we will even have the opportunity to distribute some of our films through this newly formed company”. This is a major step forward for Dark Star Records and the world of independent media.
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by Jeffrey A Swanson / Publisher / Editor / Writer