Business News Deals Labels & Publishers

INgrooves expands into royalty services via Sovereign acquisition

By | Published on Thursday 11 January 2018

INgrooves Music Group

Music distributor INgrooves has acquired a company called Sovereign Music Services so to bring royalty and publishing admin specialisms into the business.

California-based Sovereign Music Services was set up by Jennifer Cary and Steve Weatherby in 2013. It provides royalty and admin services to music companies, and owns a proprietary royalty accounting platform which – it says – “offers clients efficient and transparent services, including downstream accounting, statements and payments”. Both Cary and Weatherby will join INgrooves as part of the deal.

Confirming the acquisition, INgrooves CEO Bob Roback said: “In just five short years, Jennifer and Steve have used their expertise in a complex yet essential aspect of the music industry to build one of the most nimble and efficient royalty companies in the world. We are THRILLED to be able to immediately offer this strengthened suite of services to label and artist clients, with an eye towards enhancing our industry-leading, integrated technology platform. We are excited to welcome the Sovereign team to INgrooves”.

Cary added: “INgrooves has long set the industry standard for efficiency and for embracing the rise of new technology in the music business. So naturally, we feel that moving our enterprise over to INgrooves is a huge win for our team and our clients. Our plan is to continue to develop greater efficiencies and new products within our area of expertise, and we are very eager to begin work with the global INgrooves team”.