[PIAS] is a famous name in the independent music world.
It works both as a distributor and labels services provider for outside record labels, while also running its own in-house label operation.
[PIAS] was co-founded in Brussels in 1983 by its CEO, Kenny Gates, alongside Michel Lambot.
The company, which started out as a vinyl import/export business, today works with labels such as Beggars Group, Warp Records and many more as a service provider.
It also works with ‘affiliate’ labels such as ATO, Bella Union, Heavenly, Mute and Transgressive.
Its in-house labels include Play It Again Sam, Different and the classical label Harmonia Mundi.
[PIAS] is jointly headquartered in Brussels and London with 16 offices worldwide.
Harmonia Mundi acquisition
[PIAS] acquired French classical and jazz label, Harmonia Mundi, in 2015.
At the time, Kenny Gates said: “Much like [PIAS], harmonia mundi is run and staffed by passionate music lovers and we are looking forward to joining hands with them around the world and to bringing them into our family.
“This is an added dimension for [PIAS] and we can’t wait to work with these real experts in the field and to add our own experience, expertise and resources to help harmonia mundi thrive as a home for its labels and artists.“
Financials
According to a filing with Companies House in the the UK for PIAS Holding (UK) Ltd, PIAS reported revenues of GBP £32.1 million in the calendar year of 2019, representing a year-on-year drop of 16.9%.
The company’s yearly operating profit in 2019 was £1.63 million before the impact of currency factors.
However, when currency fluctuations were taken into account in 2019 [PIAS] ended up with an operating loss of £1.1 million.Music Business Worldwide