The State51 Music Group has revealed a restructuring of its component businesses that will bring them together under a new operating board.
The three companies – OpenIMP, Consolidated Independent and The State51 Conspiracy – will now operate under a new state51 Music Group board comprising founder Paul Sanders, former Sony Music UK COO and current CI chairman Paul Curran and Andy Heath, director, Beggars Group.
The State51 Conspiracy is described as a “risk-taking and innovative recorded music company with a global reach”. OpenIMP is a music industry technology platform, while Consolidated Independent provides managed services for the digital business.
Founder Paul Sanders said: “When I started out in digital music in 1991, I realised that a 21st century music company would need to be radically different to the old model. We now operate in a digital market, but the music industry needs scale and brave new thinking to meet the challenges of the 2020s. This restructuring configures us to deliver our massive technology advantage with an unmatched depth of music industry knowledge and State51’s legendary creativity.”
The group is now perfectly placed to offer a very distinct route to market
The State51 Music Group was recently accepted on the London Stock Exchange’s Elite programme, which supports ambitious global companies with high growth potential.
Curran said: “This is a very exciting time for State51. Scaling up to the challenges and opportunities of the future global music industry requires, on top of deep music and technology knowledge, world-class business skills, and we have been planning accordingly. It’s rewarding to see that this depth of preparation is now being recognised by bodies such as the LSE as State51 becomes the first music company to be accepted into its Elite programme, which also notes our ambitions for the business.
“Having been chairman of CI since 2011, I have watched State51 develop. It has been exciting to have helped with the consolidation of the businesses and I am positive that the group is now perfectly placed to offer a very distinct route to market for artists and labels.”
Heath added: “In a landscape where the lines are being deliberately blurred by some on what constitutes an ‘independent’ music company, The State51 Music Group has proven itself as an important and trusted partner to the true independent music community over many years and it continues to evolve its capabilities. Its mix of robust business systems tied to leading edge telco-grade technologies more than level the playing field for its stakeholders and I'm also an admirer of the maverick spirit that permeates every corner of the business.“
State51 has also engaged Eagle Owl Communications, set up by former Sony Music director of communications Paul Bursche.