Here’s a copy of the full press release:
Official Press release:
New York/Oslo/Hamburg, 4th of May 2017
Leading German and Nordic independent digital distributors join The Orchard’s global team in landmark deal
The Orchard, a global leader in independent music, video and film distribution, today announced that it has agreed to acquire a pair of leading European independent music distributors – finetunes GmbH of Germany and Phonofile AS of Norway – from holding company SendR SE.
Under the deal, both finetunes and Phonofile will become wholly owned subsidiaries of The Orchard, giving The Orchard an expanded local presence in its European operations.
Labels distributed by finetunes and Phonofile will gain access to The Orchard’s enhanced services in over 25 territories worldwide, offering physical sales and distribution, global digital marketing, playlist promotion, interactive marketing, digital advertising, synch licensing, video services, performance/neighboring rights collections, and artist royalty processing and more.
Commenting on the acquisition, finetunes Founder and Authorized Officer Oke Göttlich said, “Today is a big day for our finetunes family. We feel confident that our labels will be best positioned for a healthy and prosperous future alongside The Orchard, who is dedicated to serving independents on a global level.”
“We’re honored to welcome finetunes and Phonofile to The Orchard family. Their addition greatly enhances our local representation in two of Europe’s key digital entertainment markets,” said Brad Navin, CEO of The Orchard. “Both teams are extremely knowledgeable and passionate, and they do an excellent job representing some of the most prestigious and important independent labels in Germany and the Nordics respectively. In joining together, we believe we have an exciting opportunity to provide even greater levels of service and global reach to our local clients.”
“The addition of these two respected companies to The Orchard further establishes our strong service offering across the continent and beyond,” said Manlio Celotti, Managing Director of The Orchard Europe. “The Orchard’s independent spirit and structure makes this acquisition a true ‘win-win’ for all involved. We look forward to driving growth opportunities for the expanded client base both at home and abroad.”
finetunes and Phonofile combined their ownership in 2016 under the SendR umbrella – a holding company that is predominantly owned by finetunes founders Henning Thieß and Oke Göttlich, and that also includes shareholders such as FONO (the Norwegian independent record labels’ association) and NOPA (the Norwegian association for music composers and lyricists).