Downtown Music has promoted Tom Allen to the everlasting position of Chief Know-how Officer and appointed Richard Leach as President of Curve and Downtown Royalties & Monetary Providers.
Allen, who co-founded royalty accounting software program Curve Royalty Techniques in 2019, has been serving as Downtown’s interim CTO since April 2024, following the passing of earlier expertise chief Manan Vohra.
Allen joined Downtown Music in 2023 when it acquired London-headquartered Curve.
Leach, in the meantime, beforehand served as Managing Director of Curve. Downtown mentioned Curve has built-in with quite a lot of Downtown companies over the previous 12 months and has established extra providers together with the not too long ago launched Curve Royalty Providers, which provides end-to-end providers for labels, publishers, and distributors.
Via Curve Royalty Providers, shoppers are capable of outsource components or their complete royalty processes together with accounting and reporting for artists and songwriters. Downtown mentioned over 10% of Curve’s international consumer base used the service shortly after the launch.
“At Curve, we’ve innovated the infrastructure that powers the business and supplied higher perception and transparency into royalty transactions than ever earlier than. I stay up for constructing on the continued success we’ve seen at Curve and dealing extra intently with all the portfolio,” mentioned Leach.
Leach will now report back to each Allen and Downtown CEO Pieter van Rijn in his expanded position. He’ll lead the corporate’s efforts to develop its royalty and monetary service choices throughout each publishing and recorded music rights.
“Downtown continues to make royalty providers, accounting, and funds sooner and easier for information labels and music publishers all over the world,” added Leach.
Allen added: “We’re at a extremely fascinating second within the music tech area, the place what was deemed unattainable 5 years in the past is now changing into a actuality. I’m honored to tackle the CTO position and keep on the distinctive work began by Manan.”
,”Tom is a visionary chief with a deep understanding of expertise, operations, and the wants of artists, songwriters, and the businesses that help them,” Van Rijn mentioned.
“Richard understands the royalty and monetary providers area like few others within the business, and Curve continues to play a vital position within the work that Downtown does. I’m excited to see him construct on its extraordinary success.”
Downtown Music has expanded its enterprise lately by way of acquisitions and new choices. The corporate now operates throughout 4 divisions: Publishing, Distribution, Artist & Label Providers, and Royalties & Monetary Providers.
In 2021, Downtown bought its owned catalog of 145,000 copyrights to Harmony for round $400 million.
At the moment, Downtown says it really works with over 5,000 enterprise shoppers and greater than 4 million creators in 145 international locations throughout its varied companies.
In December 2024, Common Music Group‘s Virgin Music Group revealed that it has agreed to purchase Downtown Music in a deal price $775 million.
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