Concord continues to gobble up independent music labels with its acquisition of Victory Records
Micah Carli and JT Woodruff of Hawthorne Heights perform at Revolution on Sept. 22, 2014 in Fort Lauderdale, Fla.
In buying Victory, which has broken such bands as Taking Back Sunday, Bayside, Thursday, Hawthorne Heights, and Silverstein, Concord picks up 4,500 masters and 3,500 compositions to add to the 16,000 albums and 390,000 compositions it now owns through past past acquisitions.
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.
Since 2006, Salm has made nearly 200 acquisitions, including buying one of the bigger indie music publishers in Imagem; many single artists catalogs; and about 25 record labels building Concord into a company that now generates about $450 million in revenue annually, divided almost evenly between music publishing and recorded music.
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