Downtown Music Holdings has announced new executive-leadership plans: On 9/1 founder and current CEO Justin Kalifowitz will move to Executive Chairman and current COO Andrew Bergman will be named CEO.

Kalifowitz will continue to focus on driving strategic development, lead Downtown’s board and work with Bergman and the executive team on growth opportunities. He has served as CEO of Downtown since establishing the company 14 years ago.

“As we continue to expand our market position by empowering entrepreneurial creators and their partners, Andrew’s unrivaled knowledge of the business coupled with his operational excellence make him the perfect choice as our next CEO,” said Kalifowitz. “With Andrew managing day-to-day operations for Downtown, I'm looking forward to continuing to work closely together in advancing the organization's strategic development at an accelerated pace.”

Bergman added, “I feel very fortunate to continue my 14-year collaboration with Justin in my new role as CEO, and I'm excited about what we will accomplish together in Downtown’s next growth stage.”

Bergman formally joined Downtown as General Counsel/EVP in 2008, rising to COO in 2014. He worked with Kalifowitz at the company's inception as outside legal counsel.

Since Kalifowitz launched Downtown Music Publishing in 2007, he and Bergman have transformed the pubco into a leading global music company, one that manages 23m+ music assets on behalf of more than a million artists and enterprise clients from 145 countries, with a catalog that spans 100 years of popular music, including music for film and television and the largest independent-recording catalog in the industry.

Downtown is on track to exceed $600m in revenue for 2021, with a 30% annual growth rate projected through 2024.