Unlocked: AWAL gets acquired by Sony for around $430m
Independent music behemoth AWAL have recently been acquired by Sony for around $430m, a move that significantly weakens the options for an artist to stay truly independent. Much like Sony’s acquisition of The Orchard it allows them to onboard a swathe of catalog rights whilst retaining the brand loyalty that AWAL has built up over the last decade. It significantly strengthens the label services arm of Sony, which is now poised to control two of the industry’s most trusted distribution pipelines.
Rob Stringer, chairman, Sony Music Group, said: “Our investment in AWAL’s continued growth gives us another level of service to offer the independent music community. With their flexible solutions to building artist careers, together we will offer creators more exciting choices to connect with their audience worldwide.”
Lonny Olinick, CEO, AWAL, said: “The AWAL team has futuristically enabled artists to deliver their creative vision since its inception. Now, as part of the global Sony ecosystem, we can dramatically expand on this vision for them. We are also excited to build on our innovative neighboring rights as well as DIY platforms with extended support from The Orchard.”
