US-based distribution and rights management business Connect Music has announced an expansion into the European market via the acquisition of UK-based artist and label services outfit MTX Music.
Connect Music CEO George Monger says: “This is a landmark moment for Connect Music - this is a piece of our wider strategy to expand our global operations".
"We invested early in infrastructure and immediately MTX clients will see high royalties", he goes on, "and - through our 'Connected Business' strategy - we will see nearly immediate, stronger bottom line performance from the operations".
Following the acquisition, MTX Music will be headed up by Monger's co-founder at Connect, Askia Fountain. Monger adds: "I cannot think of a better, more well connected Managing Director than Askia to grow the business, I believe he’s the ideal person to lead on bringing Connect’s unique offering to the UK market".
Meanwhile, Fountain himself adds: “I am incredibly excited to join the team at MTX and to leverage Connect’s network resources to help empower the UK’s vibrant community of independent creators".
MTX Music founder Mike Bartlett will now focus on his other business, music marketing and communications firm the Motion Agency. Though that company will maintain a strategic partnership with MTX Music moving forward.
He says: “It’s been incredibly rewarding to grow MTX Music over the past four years and the company is about to enter an exciting new era. Connect’s independent ethos and their commitment to supporting artists make them a perfect fit to take MTX forward. I look forward to watching the company and its artists go from strength to strength".