Nat Pastor, co-CEO of Virgin Music Group, stated: "It’s an exciting time for Virgin as we continue to build a next-generation music company for independent artists and labels. We aren’t just making an acquisition; this is an investment into the global independent music ecosystem and a commitment to nurture current and future creators and entrepreneurs with world-class support, services, and capabilities they require at any phase of their careers."
Justin Kalifowitz, founder of Downtown Music Holdings, said: "This is a tremendous recognition of the importance and vitality of independent music, and the value that our company brings to its clients every day. Downtown was established with the belief that artists and entrepreneurs everywhere and at every stage are entitled to the same tools and opportunities to succeed."
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