Universal Music Group revealed on Monday (March 16) that it has made a strategic investment in What the Duck (WTD), a prominent Thailand-based independent label.
MBW understands that UMG has acquired a minority stake in the company.
Universal said in a press release that, alongside its “meaningful investment” in WTD, the move also strengthens UMG’s leadership and A&R teams in the region.
The deal sees WTD founder Moy Samkwan Tonsompong become Managing Director of Universal Music Thailand, while remaining closely involved with WTD to oversee the label’s “continued development and growth”.
Co-founders Chichaya Karnasuta and TorpongChantabubpha will remain key members of the WTD team.
Founded in 2014, UMG said that WTD has “quickly grown to become one of Thailand’s creative powerhouses, representing some of the country’s leading artists” (such as The TOYS, Bowkylion, Musketeers, and Whal & Dolph), as well as a wave of new talent (such as Landokmai, Purpeech, and Mirrr).
Pictured [Left-Right] Left: Adam Granite, Moy Samkwan Tonsompong, Chichaya Karnasuta, Torpong Chantabubpha, Calvin Wong
UMG added that the agreement represents “yet another successful example of UMG’s strategy to expand its presence in high-potential growth markets,” and builds upon its acquisition of RS Group’s catalog.
UMG confirmed in September 2024 that it completed the acquisition of the remaining 30% of RS Group’s catalog, taking full ownership of the recordings portfolio for a total sum of approximately USD $65-$70 million.
The initial deal arrived a year after UMG struck a strategic deal with Thai record label Hype Train.
UMG describes Thailand as “a dynamic and fast-evolving market, with a young and growing population and increasing rates of digital adoption”.
Universal noted that “digital streaming revenues grew rapidly” in the market throughout 2024, with revenues from subscription streaming alone growing 13.1%.
Thailand’s overall recorded music market grew by 12.9% YoYin 2024 to annual revenues of more than $100 million, according to the IFPI.
On UMG’s most recent earnings call held on March 5 for Q4 and FY 2025, the company’s Chairman and CEO Sir Lucian Grainge outlined geographic expansion as one of four key pillars of the company’s next phase of growth — alongside artist and label services, superfan initiatives, and AI.
Grainge told analysts that UMG’s approach to high-potential markets is “to create a compelling array of business solutions that offer multiple ways for artists, labels, and entrepreneurs to engage with us,” adding: “We partner with the best of them and then deepen the partnership over time.”
He pointed to India and China as examples of markets where UMG has built multiple points of entry through a combination of local A&R, acquisitions, and distribution partnerships via Virgin Music Group and Downtown.
His comments arrived a couple of months after UMG’s division in India signed a definitive agreement to acquire a 30% stake in Excel Entertainment, in a deal that values the Bollywood production house at 24 billion Indian rupees (approx. USD $267 million).
Speaking on the same earnings call on March 5, UMG Chief Operating Officer BoydMuir said that aligning UMG’s market share in high-potential growth markets with its position in more developed territories is “incredibly important, particularly as we see the increasing number of subscribers being added into those growth markets.”
Muir noted that UMG has acquired 18 businesses in such markets over the past three years, with deals that are “all relatively small” and focused on local-language repertoire.
“I am delighted to ‘unite’ the WTD and UMG families and look forward to working closely with Moy and the team delivering success in Thailand and beyond.”
Adam Granite, UMG
Commenting on the deal with What the Duck, Adam Granite, UMG’s CEO for Africa, Middle East and Asia, said: “This is an exciting next step in our strategy to expand our presence in fast-growing markets.
“I am delighted to ‘unite’ the WTD and UMG families and look forward to working closely with Moy and the team delivering success in Thailand and beyond.”
“We’re thrilled to be joining the team at UMG.”
Moy Samkwan Tonsompong, WTD
Moy Samkwan Tonsompong, founder of WTD, commented: “We’re thrilled to be joining the team at UMG. We believe this will only serve to create more opportunities for Thai music both at home and globally, while also strengthening our offer to artists.
“I’m committed to staying closely involved with the WTD team – ensuring this partnership drives global success for our artists and brings the creative force that is Thai music to more audiences than ever before.”
“We’re delighted to be joining forces with WTD.”
Calvin Wong, UMG
Calvin Wong, CEO, Southeast Asia and Korea, UMG, said: “We’re delighted to be joining forces with WTD. In a short space of time, Moy and his team have built an incredibly strong offer for artists and curated a roster of exceptional talent.
“I’m eager to start working with them on the next phase of their journey and look forward to seeing their artists flourish both within and outside Thailand.”
Warner Music Asia previously inked a strategic alliance with Thailand’s What the Duck, through the signing of singer-songwriter Valentina Ploy.
