Tracy Maddux leaves her position as sales director at Downtown Music Fundeffective immediately.
The company confirmed the news on Monday, November 20.
Downtown says Maddux “is committed to continuing to provide his insights and expertise” to Downtown Music Holdings as a consultant and advisor in support of “key strategic initiatives” throughout 2024.
According to Downtown, Maddux has “been a vital part” of Downtown’s leadership team, “contributing significantly to the company’s robust growth and strategic acquisitions.”
Tracy Maddux, who was previously CEO of Baby CD and AVL Digital, acquired by Downtown in March 2019, transitioned to the position of downtown commercial director in October 2020.
Downtown says that during his 10 years as CEO of CD Baby, Maddux “led through fundamental changes in the way music is delivered and consumed and led more than $1 billion in payments from royalties to independent artists around the world.
More recently, according to Downtown, Maddux contributed to Downtown’s acquisitions by FUGA in 2020 and curved royalty systems in 2022.
Downtown Music Holdings said in a statement Monday that it “remains committed to supporting the global creative community, ensuring that artists, labels and publishers receive the recognition and royalties they deserve” and added that “the “The company will continue to innovate and grow under its strong management team.”
“It’s been a remarkable journey downtown and I’m proud of everything we’ve accomplished together. »
Tracy Maddux
Commenting on his departure from Downtown, Maddux said, “It has been a remarkable journey to Downtown, and I am proud of everything we have accomplished together.
“From the strategic sale of CD Baby, AdRev and DashGo to leading our M&A practice and integrating FUGA and Curve, we have set new standards for the industry.
“I now look forward to the new challenges and opportunities that await us. I would like to thank Andrew Bergman and Justin Kalifowitz for their unwavering support and partnership during our work together over the past 13 years.
“Tracy has made a material contribution to our culture and the growth of the company.”
Andrew Bergman, Downtown Music Holdings
Andrew Bergman, CEO of Downtown Music Holdings, added: “Tracy has made material contributions to our culture and the growth of the company.
“He is universally respected by his peers and I consider myself personally fortunate to have worked alongside him. We look forward to continuing our association with Tracy.
Downtown said that it “underwent a significant transformation of its music services activities” following the sale copyright of his songs in 2021.
In April 2023, Downtown Music shape a new Artist & Label Services division. Ben Patterson has been promoted to division president.
The Artist & Label Services division grew out of Downtown’s distribution arm, DashGo, which was acquired by Downtown in 2019 when it acquired AVL Digital Group. for an amount estimated at 200 million dollars. Patterson founded DashGo in 2004.
News of Downtown’s new Artist & Label Services division came in April six months after DMH formed the unit Downtown Music.
Downtown Music brings together all of Downtown’s global business and professional services, including distribution, label and artist services, publishing administration, video and user-generated rights monetization, neighboring rights, royalty accounting solutions, sync licensing and creative support services.
Among these combined divisions were Downtown Music Services, a music publishing platform Trust songrights management company Adrev, independent distribution company Baby CD and B2B music technology and services platform FUGA.
Pieter van Rijn, CEO of FUGA, has been appointed president of the Downtown Music unit.
In March 2023, Mike Smith deceased Downtown after nearly three years as Global President of Downtown Music Services.
In September 2023, Downtown Music Fund appointed Pieter van Rijn, president of Downtown Music, to its board of directors.Music Business Worldwide