Since its founding in 1998, CD Baby, the music distributor owned by Downtown Music Holdings, has reportedly paid out more than $1 billion to musicians.
Andrew Bergman from, Downtown said: "As business partners since 2014, we appreciated the depth of CD Baby's organization and its incredibly loyal client base, two key drivers of our acquisition. Unique in the industry, they have long understood that not all creators are the same, each having their own story, ambition and art to share."
"With CD Baby now leveraging resources across Downtown's platform, including technology, royalty collection, global licensing operations and capital, we are able to drive equity and innovation to all creators at an accelerated pace."
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