Universal Music Group has acquired UAE-based music company, Chabaka, part of the CHBK Group, a label that specialises in digital distribution, marketing, publishing and artists from the Middle East and North Africa (MENA) region. Chabaka has more than 150 independent artists and local labels across the region of its roster and will expand UMG’s footprint in the MENA market, where recorded music revenues rose by 23.8% in 2022.
UMG added the deal will allow it to expand its services and reach within the independent label and artist community. Ala’a Makki, Chabaka co-founder and chief executive, said: “These are exciting times for the region, which is one of the fastest-growing music markets in the world, and we are thrilled to announce the partnership between Chabaka and UMG.” Following the acquisition, Chabaka will become part of UMG’s Virgin Music Group.
JT Myers, co-CEO of UMG arm Virgin Music, added: “Ala’a Makki and his team bring a level of expertise and knowledge that will enable them to create opportunities for our artists and labels in the expanding MENA region, and in turn, we will be able to grow the global audience for Chabaka’s amazing roster of artists and labels.” Makki will remain in charge of the business. Universal, run by Sir Lucian Grainge, is the world’s biggest music rights company. It owns labels such as Capitol, Decca, Def Jam, Deutsche Grammophon, Interscope, Island, Motown, Polydor, Republic and Virgin EMI.
Source: PROACTIVE
