Sony Music UK has made another major acquisition – Ministry Of Sound Recordings.
Ministry is best known for its hit tracks and compilations business, with recent brands including Running Trax, I Love Summer, The Mix and Throwback Slowjams.
Under the respected London-based A&R force of David Dollimore and Dipesh Parmar, Ministry has also blossomed into a successful artist base in recent years – bringing through the likes of Example, Wretch 32, DJ Fresh, Sigala and London Grammar (pictured).
Ministry of Sound Recordings was launched in 1993 as an extension of its South London nightclub founded by James Palumbo, now Lord Palumbo of Southwark.
To date, Ministry boasts cumulative album sales in excess of 70 million, including 40 UK No. 1 albums and 21 UK No. 1 singles.
Doug Morris, Chairman and CEO, Sony Music Entertainment, stated: “This agreement underscores our ongoing commitment to investing in great artistry and hit music. On behalf of the entire Sony Music family, I’m excited to welcome the wonderful artists and talented team at Ministry of Sound Recordings to our line-up of world-class creative centers. I would like to send my congratulations to both Edgar and Jason.”
Jason Iley, Sony Music UK
Lohan Presencer, Ministry of Sound Group Chief Executive, said: “I’m delighted we have found the right home to grow Ministry of Sound Recordings at a global level while keeping its unique identity. Sony Music is a world-class company that understands our ethos of exceptional curation and developing young talent.
“Ministry of Sound Recordings had its most successful year to date in 2015. Sony has the scale and strength within the industry to project our artists and music onto an even bigger platform.”
Edgar Berger, Chairman and CEO, International, Sony Music Entertainment, said: “Ministry’s success story is exceptional and the acquisition is an important milestone in our growth strategy. We welcome the opportunity to further internationalise the footprint of this legendary British independent record label.”
Jason Iley, Chairman and CEO, Sony Music UK, said: “Ministry of Sound is one of the greatest brands in music. I’m delighted to welcome one of the most innovative, smart and pioneering labels to the Sony Music family. David and Dipesh’s track record, alongside one of the best curation teams in the business, speaks for itself and the label will be another hugely exciting addition to Sony Music UK’s vision for the future.”
Lohan Presencer, Ministry Of Sound
London Grammar, now managed by Jonathan Dickins at September Management, are expected to release their highly anticipated second album later this year.
The band’s debut album If You Wait, released in 2013, was licensed to Rob Stringer’s Columbia in the US.
In May this year, Ministry’s relationship with Sony spawned another big deal, when Sigala inked a multimillion dollar license with the major for the globe outside the UK and Australia.
The Ministry buyout is the second big acquisition this year from Sony Music UK, run by CEO and Chairman Jason Iley.
In March, it fully acquired one of Europe’s best-known independent label and artist services companies, Essential Music & Marketing.
The major merged the business with its own Sony RED in the UK to create a new venture, Red Essential – now jointly run by Mike Chadwick and Ian Dutt.
Ministry Of Sound’s recordings business generated £25.48m ($33m) in 2014.Music Business Worldwide