Concord Music Buys Victory Records

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Ed Christman, writing for Billboard:

Terms of the deal weren’t disclosed, but Billboard estimates that the Victory company had $4.5 million-$5 million a year in revenue and further estimates that Concord paid somewhere in the range of $27 million-$34 million for the Victory company. […]

The Victory catalog will go under Concord’s Craft Recordings catalog team and “to the extent that we put out new albums from existing artists, Fearless is the most likely home” to market such albums, Salm says.

Meanwhile, Victory’s 30-person staff will remain employed by Brummel, who sources say has a “limited” non-compete clause that will allow him to pursue opportunities in the music business going forward, if he so chooses. The staff will work on Brummel’s other businesses which includes a third-party merch business, plus some real estate and other investments. Also, they will be involved in assisting with on-boarding Victory’s catalog and royalty payments onto Concord’s platform over the next few months.
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