Concord Acquires Stem Distribution for Over $90 Million

Concord, a major independent music company, has officially acquired Stem Distribution, an innovative platform that specializes in digital distribution, digital strategy, and artist services for independent musicians. The deal, which has been rumored to be worth between $50 million and $90 million, will allow Stem to operate as a separate division within Concord while retaining its existing leadership. This acquisition aims to enhance Concord's support for up-and-coming artists by providing them with greater access to resources and technology. Stem's CEO, Milana Lewis, emphasized that this partnership will not only help retain its existing artists but also attract new talent, addressing the challenges of scaling their businesses. Concord's investment is seen as vital for modernizing the independent music landscape and supporting the growth of the indie community in the music industry. The operational structure and staffing at Stem are expected to remain unchanged following the acquisition.