Concord is pleased to announce it has acquired renowned independent rock, metal, emo and hardcore punk music company Victory Records and Another Victory Publishing from Chicago-based founder and CEO Tony Brummel. The acquisition includes approximately 4,500 master recordings and 3,500 compositions. A true “indie-of-indies”, Victory was started by Brummel in 1989 in his hometown of Chicago with an initial investment of less than $1,000 and from the beginning of its days has been self-funded.
Billboard estimates the deal was for between $27 and $34 million and Victory Records generated roughly $4.5 million revenue. GO HERE to see the full article.
Terms of the deal weren’t disclosed, but Billboard estimates that the Victory company had $4.5 million-$5 million a year in revenue and further estimates that Concord paid somewhere in the range of $27 million-$34 million for the Victory company.
As part of the deal, Concord will get the Victory name and Bulldog logo. / Billboard
Victory’s master recording catalog includes A Day To Remember, Hawthorne Heights, Thursday and Silverstein. The completion of this deal also brings all of Victory’s incredible legacy catalog under one roof at Concord with the likes of Taking Back Sunday, Atreyu, Bayside, Counterparts and Between the Buried and Me.
Victory has always been home to artists that define a segment of rock and roll culture. These artists, with the help of the Victory team and Brummel’s vision, have sold over 15,000,000 albums over the last 30 years and have garnered the catalog six RIAA certified Gold albums, six RIAA certified Gold singles, one RIAA certified platinum single, two BPI certified silver albums and one Canada Music Canada certified Gold album.
“Concord is a market leader across rock genres in both new releases and catalog. Tony’s dedication to Victory and the development of talent within these rock genres of metal, emo and hardcore as a true independent operator is incredibly admirable and he’s made a very significant impact in that world,” commented Steven Salm, Concord’s Chief Business Development Officer. “Tony and I have gotten to know each other over the years and all of us at Concord very much look forward to being the next creative managers of the Victory masters and publishing catalogs as well as insuring all of the artists that have been part of Victory feel very much at home at Concord.”
“I have had the pleasure of knowing Steve Salm and the Concord team for a few years now. My dealings with Steve and Concord have been nothing but enjoyable. Concord has a great team, infrastructure and the financial backing and support to do great things with the music and entertainment assets that they represent. Victory and Another Victory’s great catalog of music and songs will be in caring and fantastic hands going forward. We’ve had a great run and with Concord it will only continue. My team at Victory will be remaining intact as we embark, going forward, on our new and existing business journeys,” said Victory founder Brummel.
Concord is the independent, worldwide leader in the development, management and acquisition of sound recordings, music publishing and theatrical performance rights. Concord has offices in Los Angeles, New York, Nashville, London, Berlin and Miami and operates via three primary operating divisions:
Concord Recorded Music is comprised of five active labels across many musical genres: Concord Records, Fantasy Records, Fearless Records, Loma Vista Recordings and Rounder Records. Concord is also home to the #1 kids’ music brand, KIDZ BOP.
The company’s historical labels are managed by its Craft Recordings team, and include such storied imprints as Fania, Fantasy, Independiente, Milestone, Musart, Nitro, Pablo, Prestige, Riverside, Savoy, Specialty, Stax, Telarc, Varèse Sarabande, Vee-Jay and Wind-up. Concord’s master recording portfolio contains more than 16,000 active albums and includes no less than 273 GRAMMY® winners (representing approximately 6.3% of all the GRAMMYs® ever awarded) and over 400 gold, platinum, multi-platinum and diamond RIAA certifications across 215 titles.
Concord Music Publishing represents more than 390,000 copyrighted works spanning all musical genres and including many of the world’s most celebrated compositions by its most legendary creators. Concord Music Publishing is also home to a diverse group of contemporary songwriters and composers creating important and commercially-successful new songs and musical works. Boosey & Hawkes, the world’s leading classical music publisher, and The Rodgers & Hammerstein Organization are also business units of Concord Music Publishing.
Concord Theatricals is the world’s most significant theatrical agency, comprised of R&H Theatricals, The Musical Company, Tams-Witmark and Samuel French. Concord Theatricals is the only firm that provides truly comprehensive services to the creators and producers of plays and musicals under a single banner, including theatrical licensing, music publishing, script publishing, cast recording and first-class production.