Concord Music acquires Stem Distribution for over $90 million

Concord, a Nashville-based music company, announced the acquisition of Stem Distribution on Monday. Although the official terms of the deal were not revealed, sources indicate the price was over $90 million. This figure is much higher than the previously rumored $50 million. Stem Distribution specializes in providing services like digital distribution, strategy, and data insights for independent artists and labels. It will remain a separate division within the Concord Label Group, continuing under the leadership of CEO Milana Lewis and President Kristin Graziani. The current team and operations at Stem are expected to stay the same. However, Stem’s business platform, Tone, which focuses on royalty accounting, will operate as a separate entity. Concord will invest in Stem to enhance its technology and expand its services for independent artists globally. Milana Lewis expressed that this acquisition marks an expansion, not an exit for Stem. She emphasized the importance of supporting independent artists. Concord’s executives highlighted their commitment to providing tools for independent musicians to thrive in the industry. Concord CEO Bob Valentine welcomed Stem, praising their work in empowering artists. He looks forward to the potential of their collaboration. Overall, this deal aims to strengthen both companies' services and support for independent artists in the music landscape.