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oh no, indie bands are no longer indie:
Sony Music has taken a stake in digital distribution company IODA.
The major will be partnering with IODA to create a new distribution and services network for independent rights holders.
Sony says that the deal underscores its commitment to expanding its service capabilities to the independent label community. The major already provides sales and marketing to independent labels via its independent distribution subsidiary RED.
Sony says that RED and IODA will build on their complementary technologies and increase the scope of sales and promotional opportunities that each currently offers their existing customer bases worldwide.
Both companies will also leverage the global marketing and financial strength of Sony Music to continue expanding their businesses.
“Sony Music is committed to offering independent labels and distributors the most compelling package of distribution services in the industry,” says Sony Music president of global digital business Thomas Hesse.
“IODA has proven it has the expertise and ability to lead the independent market with groundbreaking digital solutions. We look forward to collaborating with Kevin and his team on this strategic partnership to develop new and innovative ways to help our respective clients grow their businesses.”
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