Concord has acquired Stem Distribution, expanding its portfolio of subsidiaries. While the exact terms are undisclosed, sources estimate the deal to be valued at around $90 million.
Stem, known for offering distribution, digital strategy, and data insights to independent artists, will continue to operate as a separate division within Concord Label Group. CEO Milana Lewis and president Kristin Graziani will remain in charge.
Stem’s royalty platform, Tone, will spin off as an independent business with Concord as an investor. The acquisition will provide Stem with resources to expand globally and enhance its services.
“This isn’t an exit — it’s an expansion,” said Lewis, emphasizing that the partnership will empower independent artists with new support. Concord Label Group CEO Tom Becci highlighted the importance of strengthening the indie music community.
Concord CEO Bob Valentine praised Stem’s work in supporting artists and expressed excitement about the partnership. Lewis added, “With Concord’s backing, we’re ready to scale globally.”
Concord’s outside counsel was provided by Reed Smith with tax advisory by KPMG, while Stem’s legal team was led by Raine and several other law firms.
Related topics:
