Tracy Maddux is stepping down from his position as Chief Industrial Officer at Downtown Music Holdings, efficient instantly.
The corporate confirmed the information on Monday (November 20).
Downtown says that Maddux has “dedicated to proceed offering his insights and experience” to Downtown Music Holdings as a advisor and advisor in assist of “key strategic initiatives” all through 2024.
Based on Downtown, Maddux has “been a significant half” of Downtown’s management crew, “considerably contributing to the corporate’s sturdy progress and strategic acquisitions”.
Tracy Maddux, who beforehand served as CEO of CD Child and AVL Digital, which Downtown acquired in March 2019, transitioned to the position of Chief Industrial Officer for Downtown in October 2020.
Downtown says that in his 10 years as CEO of CD Child, Maddux “navigated basic adjustments in the best way music is launched and consumed and shepherded greater than a billion {dollars} of royalty funds to unbiased artists worldwide”.
Most lately, in line with Downtown, Maddux contributed to Downtown’s acquisitions of FUGA in 2020 and Curve Royalty Methods in 2022.
Downtown Music Holdings stated in a press release on Monday that it “stays devoted to supporting the worldwide inventive group, making certain artists, labels, and publishers obtain the popularity and royalties they deserve” and added that “the corporate will proceed to innovate and develop below its robust management crew”.
“It has been a exceptional journey at Downtown, and I’m happy with every part we now have achieved collectively.”
Tracy Maddux
Commenting on his exit from the position at Downtown, Maddux stated: “It has been a exceptional journey at Downtown, and I’m happy with every part we now have achieved collectively.
“From the strategic sale of CD Child, AdRev, and DashGo, to main our M&A follow and dealing in the direction of the mixing of FUGA and Curve, we now have set new business requirements.
“I’m now desirous to embrace new challenges and alternatives that lie forward. I need to thank Andrew Bergman and Justin Kalifowitz for his or her unwavering assist and partnership throughout our work collectively over the previous 13 years.”
“Tracy has made materials contributions to our tradition and to the expansion of the enterprise.”
Andrew Bergman, Downtown Music Holdings
Downtown Music Holdings’ CEO, Andrew Bergman, added: “Tracy has made materials contributions to our tradition and to the expansion of the enterprise.
“He’s universally revered by his friends and I personally think about myself lucky to have labored alongside him. We look ahead to our continued affiliation with Tracy.”
Downtown says that it “has undergone a major transformation of its music providers companies” following the sale of its owned track copyrights in 2021.
In April 2023, Downtown Music shaped a brand new Artist & Label Companies division. Ben Patterson was promoted to the position of President of the division.
The Artist & Label Companies division was born from Downtown’s distribution arm, DashGo, which was acquired by Downtown in 2019 when it acquired AVL Digital Group for an estimated $200 million. Patterson based DashGo in 2004.
Information of Downtown’s new Artist & Label Companies division in April arrived six months after DMH shaped the Downtown Music unit.
Downtown Music mixed all of Downtown’s world enterprise {and professional} providers together with distribution, label and artist providers, publishing administration, video and user-generated rights monetization, neighbouring rights, royalty accounting options, sync licensing and inventive assist providers.
Amongst these mixed divisions had been Downtown Music Companies, music publishing platform Songtrust, rights administration firm Adrev, indie distribution firm CD Child and B2B music tech and providers platform FUGA.
FUGA CEO Pieter van Rijn was appointed to guide the Downtown Music unit as President.
In March 2023, Mike Smith departed Downtown after practically three years as International President of Downtown Music Companies.
In September 2023, Downtown Music Holdings appointed Pieter van Rijn, President of Downtown Music, to its Board of Administrators.Music Enterprise Worldwide
