We have some really exciting news to share about Downtown in one of our favorite cities in the world: London.
When it comes to music, the UK has long punched well above its weight-class. Both at home and abroad, British music commands incredible market share. In fact, according to BPI, one in every five tracks streamed on Spotify around the globe is by a British artist. Making an equally impressive contribution to the world’s music catalog are British songwriters and composers, a tradition that is so elegantly showcased at the annual Ivor Novello Awards.
As a company, we have always been inspired by our friends across the pond and have been fortunate to represent many of the UK’s most inspiring songwriters and publishers. British music has not only made a huge impact on our business, but continues to enrich our lives.
With that in mind, we couldn’t be more thrilled to announce a significant investment we are making in British music by expanding in the UK. This week, we have agreed terms on a strategic acquisition of Eagle-i Music. Additionally, Eagle-i’s Co-Founder and Managing Director, and a publisher we’ve long admired, Roberto Neri, will be joining as MD of Downtown's UK business.
A veteran of the music publishing industry, Roberto co-founded Eagle-i Music in 2011, securing rights to such diverse catalogs as Deep Purple, BA Robertson, Brian Jonestown Massacre and more. Prior to Eagle-i, he served as Group Vice President, International and General Manager of Bug Music UK. Roberto began his career in music rights with the PRS in 1999.
We are also welcoming Roberto's colleagues to the Downtown fold, a team of fantastic publishers including Head of Administration, Joe Woolmore, Sync Coordinator Luke Montague and Creative Coordinator Ninon Coletti. The group will be joining our UK A&R Manager Tom Graham who has already been developing several incredible songwriter/artists including Slaves, Ala.ni and The Cogo.
As part of the agreement, we will also acquire Eagle-i’s neighboring rights business and production music platform and will be integrating them across our global network in the months ahead.