Sony Music Completes Acquisition Of The Orchard
March 19, 2015 at 5:36 PM (PT)
SONY MUSIC ENTERTAINMENT has acquired the remaining interest in THE ORCHARD, the global independent music, video and film distribution company. THE ORCHARD will continue to operate separately from SONY MUSIC and will be led by its existing executive team.
SONY MUSIC became the majority investor in THE ORCHARD in March 2012 following the merger of THE ORCHARD with IODA, a SONY MUSIC-owned digital distribution company. At that time, THE ORCHARD became the digital distributor for RED and select catalogues from SONY MUSIC affiliates outside of the U.S.
This investment will allow SONY MUSIC to further enhance its relationships with distribution clients all over the world. It also will allow the companies to work more closely together to drive improvements throughout the digital supply chain and quality of revenue reporting. SONY MUSIC remains committed to operating THE ORCHARD independently with the goal of improving the revenue and profitability of its distribution clients.
The acquisition is subject to necessary regulatory approvals.