Independent company The state51 Music Group has restructured its component businesses as a unified entity under a new operating board.
The move comes soon after the company was been accepted onto the London Stock Exchange’s ELITE programme, which supports ambitious global companies with high growth potential.
State51’s businesses are: supply side music platform OpenIMP, digital music distributor and services firm Consolidated Independent, and recorded music arm The state51 Conspiracy.
The three companies will now operate under a new state51 Music Group board comprised of founder Paul Sanders, CI Chairman and former Sony Music UK & Ireland COO, Paul Curran, and Beggars Group director Andy Heath.
State51 operates globally with offices in London, New York, Budapest, Belgrade, Vilnius, Bogota, and Da Nang.
Sanders said: “When I started out in digital music in 1991 I realised that a 21st Century music company would need to be radically different to the old model.
“We now operate in a digital market, but the music industry needs scale and brave new thinking to meet the challenges of the 2020s.
“This restructuring configures us to deliver our massive technology advantage with an unmatched depth of music industry knowledge and state51’s legendary creativity.”
paul sanders, the state51 music group
“We now operate in a digital market, but the music industry needs scale and brave new thinking to meet the challenges of the 2020s.
“This restructuring configures us to deliver our massive technology advantage with an unmatched depth of music industry knowledge and state51’s legendary creativity.”
Curran said: “This is a very exciting time for state51, scaling up to the challenges and opportunities of the future global music industry requires, on top of deep music and technology knowledge, world class business skills, and we have been planning accordingly.
“I am positive that the group is now perfectly placed to offer a very distinct route to market for artists and labels.”
Heath added: “In a landscape where the lines are being deliberately blurred by some on what constitutes an “independent” music company, The state51 Music Group has proven itself as an important and trusted partner to the true independent music community over many years and it continues to evolve its capabilities.
“Its mix of robust business systems tied to leading edge telco-grade technologies more than level the playing field for its stakeholders and I’m also an admirer of the maverick spirit that permeates every corner of the business.“
Music Business Worldwide
