Common Music Group (UMG) has acquired Chabaka Music, a UAE-based music firm specializing in digital distribution, advertising and marketing, publishing, and artist providers throughout the Center East and North Africa (MENA) area.
The corporate mentioned the transfer expands UMG’s attain in one of many world’s fastest-growing music sectors, based on a press launch on Wednesday (August 30).
Based in 2013 by Ala’a and Tarek Makki, Chabaka has partnered with over 150 unbiased artists and native labels thus far.
Chabaka is a part of the broader CHBK Group, which additionally owns and operates Concast and Boomerang Studios.
UMG mentioned the acquisition aligns with its technique of tapping into high-potential music markets globally. In 2022, based on the IFPI, the MENA area registered a 23.8% development in recorded music revenues.
The key music firm already has a presence within the MENA area. In 2021, it teamed up with music supervisor and entrepreneur, Wassim “SAL” Slaiby to launch Common Arabic Music with an intention to “create new alternatives to advance Arabic music and tradition with world companions, platforms and types.”
Final 12 months, UMG promoted Frédéric Voillemot to CFO and EVP of Enterprise Improvement for Africa, Center East & Asia.
Following the acquisition of Chabaka, the latter firm will change into a part of UMG’s Virgin Music Group and can work carefully with the native Virgin and UMG groups in MENA.
Key members of the Chabaka group, together with CEO Ala’a Makki, will retain their positions. Tarek Makki will function an advisor whereas persevering with his management inside the CHBK Group.
“Chabaka is a singular assortment of visionary leaders, artists and labels, and offers us each scale and alternative, particularly when mixed with UMG’s world main world platform.”
Patrick Boulos, Common Music Group
Patrick Boulos, CEO, MENA Area, UMG, mentioned: “The MENA area is without doubt one of the quickest rising music markets on the earth, representing untapped potential and alternative. Chabaka is a singular assortment of visionary leaders, artists and labels, and offers us each scale and alternative, particularly when mixed with UMG’s world main world platform. I’m notably happy that Ala’a Makki and his group will be part of us and drive the following chapter of Chabaka’s success as a part of the UMG household.”
Commenting on the cope with Chabaka, the latter’s co-founder and CEO Ala’a Makki mentioned: “These are thrilling occasions for the area, which is without doubt one of the quickest rising music markets on the earth, and we’re thrilled to announce the partnership between Chabaka and UMG.”
“With UMG’s world platform, experience, and community and Chabaka’s deep-rooted native expertise and presence, we’re all set to convey a unprecedented and distinctive providing for the market.”
Tarek Makki, Chabaka
“Becoming a member of forces with the main music group on the earth coincides with Chabaka’s tenth anniversary and marks an essential milestone and a brand new section for the corporate, our artists, and labels. Along with UMG, we are going to drive the transformation of the regional music trade and take it to new locations, whereas creating new prospects for our current and potential native artists.”
Chabaka Co-Founder Tarek Makki added: “A high precedence for Chabaka was to pick a associate that takes us to new heights whereas safeguarding our artists’ pursuits and bringing them new upstreaming alternatives at a world stage.”
“Our shared imaginative and prescient is to proceed fostering the unimaginable skills of this area and increasing their attain to a world viewers. With UMG’s world platform, experience, and community and Chabaka’s deep-rooted native expertise and presence, we’re all set to convey a unprecedented and distinctive providing for the market.”
“As we proceed to broaden our footprint in rising territories everywhere in the world, Chabaka represents an essential artistic hub in one of many world’s most promising music markets.”
JT Myers, Virgin Music Group
JT Myers, Co-CEO of Virgin Music Group, mentioned: “As we proceed to broaden our footprint in rising territories everywhere in the world, Chabaka represents an essential artistic hub in one of many world’s most promising music markets.”
“Ala’a Makki and his group convey a stage of experience and data that may allow them to create alternatives for our artists and labels within the increasing MENA area, and in flip, we can develop the worldwide viewers for Chabaka’s wonderful roster of artists and labels.”
Nada Alhelabi, Technique Director at MDLBEAST & XP Music Futures Program Director, earlier this 12 months mentioned the MENA area “will change into the pioneer within the music trade, by exporting skills, increasing on stay occasions, innovating in train and change into one of many high in music consumption.”
Music Enterprise Worldwide