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PROPER MUSIC ENTERS UTOPIA
1/19/22

Swiss fintech company Utopia Music has acquired U.K.-based physical music distributor Proper Music Group to help form a distribution services unit within Utopia.

With the acquisition, Utopia says it will be supercharging its song economics and accelerating royalty payouts for creators as well as digitizing operations and processes within Proper’s services, which are currently used by firms including Believe, Communion, The Orchard and Amazon. Proper will continue to service its existing customer base under Utopia.

“Proper has a long history in the U.K. music scene of which we are incredibly proud,” said Drew Hill, Managing Director at Proper Music Group. “That’s why when we learned of Utopia’s mission we knew we wanted to be a part of it. We believe that together we can help the whole value chain reach new heights, and as such we could not be more excited about this new venture.”

Roberto Neri, Chief Operating Officer at Utopia Music, said the acquisition will allow Utopia to move further toward its mission of ensuring “fair pay for every play” and “be more efficient by offering better and faster financial services to creators, and servicing both major and independent labels.”

Utopia’s distribution services unit will service independent and major labels with physical distribution and sales, manufacturing, digital distribution services, marketing, digital retail marketing, reporting and budgeting, real-time analytics, and synchronization.

The deal joins Utopia’s other recent acquisitions of Musimap and Lyric Financial. The firm is aiming to build a new music ecosystem that will help create new revenue streams, consolidate data, and drastically reduce administrative overhead limitations.