Universal and Virgin Music Complete $775 Million Acquisition of Downtown

Variety

by Jem Aswad

February 20, 2026

AI-Generated Deep Dive Summary

Universal Music Group’s Virgin Music Group has finalized its $775 million acquisition of Downtown Music Holdings, a leading artist-services company. The deal marks a significant expansion for Universal in the independent music sector, with Pieter van Rijn appointed as COO of the combined entity. Van Rijn will oversee global operations, integrating Downtown’s services into Virgin’s infrastructure while maintaining its distinct identity. The acquisition was met with regulatory scrutiny, including conditions like the divestment of Downtown’s Curve platform to address antitrust concerns. Downtown, founded in 2007, initially operated as a major music publisher but shifted focus to artist services after selling its copyrights to Concord Music in 2021 for $300 million. This pivot aligns with growing demand for infrastructure that supports artists owning their rights, particularly in distribution, promotion, and publishing. With over 5,000 business clients and four million creators across 145 countries, Downtown has established itself as a key player in the independent artist ecosystem. The acquisition underscores Universal’s strategic push to strengthen its position in the independent music market. Virgin Music Group CEO Nat Pastor emphasized the goal of enhancing services for both companies while preserving their unique strengths. Andrew Bergman, former chairman of Downtown, will transition into an advisory role, ensuring continuity and expertise during the integration process. This move is significant for the entertainment industry as it reflects a broader trend of consolidation in artist services. With more artists owning their copyrights, there is increasing demand for platforms that provide comprehensive support. The deal also highlights the challenges faced by major companies in navigating antitrust regulations, particularly in Europe, where competition concerns have led to conditions like the divestment of Curve. For independent creators, this acquisition could mean expanded resources and global reach, aligning with Downtown’s founding vision of empowering artists. As the music industry continues to evolve, such partnerships are likely to shape the future of artist services, offering both opportunities and challenges for independent entrepreneurs

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Originally published on Variety on 2/20/2026