Budiey
Universal Music Acquires Music Valley Catalogue
Strengthens Market Leadership in Malaysia
Universal Music Group (UMG), the world’s leading music company, has further strengthened its position as the top record company in Malaysia after signing a deal with Music Valley Sdn. Bhd., the country’s largest music retail chain, to acquire all the domestic catalogue and take over all artist agreements under MVM Home Entertainment, its music subsidiary.
The agreement was announced today by Pua Joo Siong, Managing Director of MVM Home Entertainment, and Sandy Monteiro, Managing Director of Universal Music Malaysia and Senior VP of Universal Music South East Asia.
Effective January 1, 2009, the agreement with Music Valley , which owns 80-plus retail outlets and concessionaire counters, covers its entire domestic music catalogue, including all digital and public performance rights. Monteiro said Music Valley ’s management team will continue to run the catalogue and manage its artists. The label’s key domestic artists are the Kristal band and singer Saleem, and its catalogue includes hits by stars such as Exist, Ahmad Nawab, Nassier Wahab, Ramlah Ram and Mega.
Established in 1990, Music Valley is the leading music retail chain store in Malaysia , with 89 retail outlets and concessionaire counters throughout the country. Since 2004, Music Valley has been acquiring domestic catalogues, plus music and film rights, from various local production houses and independent labels as part of the company’s growth strategy. By 2008, it had a 5% stake of Malaysia ’s music market.
Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 77 countries. Its company in Malaysia is headquartered in Kuala Lumpur . The Music Valley acquisition increases Universal Music’s overall market share, bolstering its position as the number one record company in the country.
Sandy Monteiro said: “The acquisition of Music Valley ’s catalogue is a strategic move which fast-tracks our involvement with domestic repertoire and strengthens our leading position in Malaysia ’s music market. Domestic repertoire sales have been resilient despite the overall downturn in the market, and the catalogue, which has remained largely unexploited in the digital sphere, provides a significant engine of growth for us moving forward.”
Pua Joo Siong added: “This deal is more like a partnership to better exploit Music Valley ’s catalogue rather than an outright sale. We believe Universal Music is an excellent business partner and we look forward to working closely with them to ensure that this is a win-win deal for both companies and all our artists.”
About Universal Music Group
Universal Music Group is the world’s leading music company with wholly owned record operations or licensees in 77 countries. Its businesses also include Universal Music Publishing Group, the industry’s leading global music publishing operation.
Universal Music Group’s record labels include A&M/Octone, Decca, Deutsche Grammophon, Disa, Emarcy, Fonovisa, Interscope Geffen A&M Records, Island Def Jam Music Group, Lost Highway Records, Machete Music, MCA Nashville, Mercury Nashville, Mercury Records, Philips, Polydor Records, Universal Motown Republic Group, Universal Music Latino, Universal Records South and Verve Music Group as well as a multitude of record labels owned or distributed by its record company subsidiaries around the world. The Universal Music Group owns the most extensive catalog of music in the industry, which includes the last 100 years of the world’s most popular artists and their recordings. UMG’s catalog is marketed through two distinct divisions, Universal Music Enterprises (in the U.S. ) and Universal Strategic Marketing (outside the U.S. ). Universal Music Group also includes eLabs, its new media and technologies division; Bravado, its merchandising company; Twenty-First Artists, its full service management division; and Helter Skelter, its live music agency.
Universal Music Group is a unit of Vivendi, a global media and communications company.
About Music Valley Sdn.. Bhd.
The company was incorporated in October 1989 as Sound Art City Sdn. Bhd., then changed to its present name, Music Valley Sdn.. Bhd,, in December 1990. It is involved in the wholesaling, retailing and production of music and film products. Headquartered in Johor Bahru, it has branch offices in Kuala Lumpur and Penang .
To date, the company has more than 80 retail outlets and concessionaire counters throughout Malaysia . The company is on the cutting edge of new technology, and will continue to expand its product range to include any new market technology available in the multimedia marketplace.
