News
Universal Music Group Launch New E-commerce Music Platform With
Digital Stores Limited By Kelly Dolan U
niversal Music Group, America’s largest music corporation, has recently launched a global direct to
consumer (D2C)
unit through Digital Stores, a music- focused e-commerce company acquired by EMI in 2010. Universal Music acquired EMI record company last year and with it the market leading technology that Digital Stores Limited provides, helping music artists sell online. EMI acquired Digital Stores Limited in 2012.
The Digital Stores technology will now become the standard in-house e-commerce platform for major artists all around the world to launch their own online music stores. Digital Stores (DSL) was co-founded in 2000 by Russel Coultart (pictured) and has since grown to become an industry leader in online retail services to artists and brands. To date, DSL operates consumer stores for a number of Universal Music’s
artists, such as
Emeli Sandé, Bastille, Empire of the Sun, Professor Green, Naughty Boy and Queen. The D2C unit will be headed up by Russel Coultart, who becomes VP Global D2C at Universal, reporting into Rob Wells, President of Global Digital Business at Universal.
“Digital Stores know better than anyone how to run first rate and profitable artist and label digital stores and their D2C technology is the best we’ve ever seen” said Rob Wells. “We’re really pleased to bring them into Universal Music so we have a strong and experienced partner in this important area for our artists and our business.”
18 entrepreneurcountry
Russel Coultart added: “With Universal Music’s incredible artists, people and assets, the D2C opportunity for the company around the world is immense and everyone at DSL is very excited about the possibilities ahead of us. We’re already exploring some great ideas with our new colleagues and the strength of UMG allows us to deliver an even more effective and seamless service to all of our partners”.
In 2010, Investment and Advisory Firm Ariadne Capital advised Digital Stores on its initial acquisition by EMI. Spotting the talented tech start-up early on, Julie Meyer, Managing Partner of the Ariadne Capital Fund, added “Not every entrepreneur creates a start- up worth a billion. Some are able to articulate the strategic value to a billion pound company, and get acquired.
“Russel Coultart is one of the rare ones who can then go on from there to achieve a significant level of leadership within a billion pound business and take it to the next level.”
To find out more, visit
www.digitalstores.co.uk
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