Concord Acquires Stem Distribution

/by

Milana Lewis, Tom Becci & Kristin Graziani. Photo: Erica Hernandez

Concord has acquired Stem Distribution, adding the company to its subsidiary portfolio. Stem will remain a separate division within Concord Label Group, led by CEO Milana Lewis and President Kristin Graziani.

Stem has begun and grown artist careers for rising talent and established acts. With Concord, Stem will now have more capital and resources to gain new technology and develop the infrastructure needed to enhance its portfolio of label services and drive Stem’s global growth. The deal will not impact current staffing or operations.

“The success of the indie community is vital to the long-term growth and health of the music industry,” shares Tom Becci, Chief Executive of Concord Label Group. “Our investment in Stem will equip them with the tools necessary to deliver first-class service across the globe while further modernizing the indie music landscape. Our focus on bolstering independent artists and entrepreneurs has never been clearer.”

“Milana and her team have spent a decade creating a company that provides immense value to both artists and labels.” adds Concord CEO Bob Valentine. “Like Concord, their focus has always been giving artists the tools they need to realize their visions and grow their careers. I am excited to welcome the Stem team to Concord and look forward to witnessing our collective success.”

“From day one, Stem has been hellbent in its mission to provide artists and their teams true autonomy.” says Lewis. “We’ve built a platform that has consistently launched the hottest artists in the world by assembling the right components—discerning taste, cutting-edge financial tools, seamless distribution, bespoke marketing strategies and high-touch creative services. Now, with Concord’s backing, we gain more fuel for the engine and a global team to help us scale. This isn’t an exit—it’s an expansion. We’re doubling down on raising the standard for independent artists and proving what’s possible when they have the right support behind them.”

“Stem and Concord both serve as trusted and successful partners to independent artists,” explains Graziani. “Bob, Tom, Vic and the Concord team have built an incredibly impressive, durable business across multiple facets of the industry and we are honored to be their selected partner as they enter the rapidly growing and sought-after distribution space. We know Concord’s capital, comprehensive global label services and strategic expertise across recorded music will immediately strengthen Stem’s offering, while allowing us to continue to deliver on our promise of empowering independent artists and labels.”

As part of the deal, Tone, the business platform for royalty accounting and other modern financial tools for record labels under Stem, will operate as an independent business, with Concord serving as one of its investors.

Concord’s external legal counsel was provided by Reed Smith, with tax advisory services from KPMG. Stem’s team was led by Raine and featured counsel from Rachel Totten and Natalie Martirossian from Goodwin Procter, Sarah Graham from Gibson Dunn and Laxmi Vijaysankar from Serling Rooks Hunter McKoy Worob & Averill.

Madison Hahnen
Latest posts by Madison Hahnen (see all)