Cooperative Music – often referred to as ‘Co-Op – is a divestment following Universal’s £1.2 billion buyout of EMI Music. The EC has required Universal to shed certain assets in order to be able to complete its takeover.
[PIAS] is believed to have purchased Co-Op for a fee in the region of £500,000.
Co-Operative Music acts as a funding and support hub for a group of independent labels such as Bella Union, Transgressive, Heavenly Moshi Moshi and more. It also provides support in marketing, promotions, digital distribution and other services.
Acts Co-Op has worked with include Fleet Foxes (pictured), The Black Keys, Two Door Cinema Club and Bloc Party.
As part of the Co-Op deal, [PIAS] has acquired the V2 Label from Universal. Recent releases on V2 have included The Courteeners’ album ANNA.Music Business Worldwide