Universal Music Group (UMG) announced the purchase of music publishing company Shoelace Records this week. The global music conglomerate moved fast, including a logo rebrand in the announcement.
We are now a part of the Universal Music Group family! pic.twitter.com/xYZLuTsN2f
— Shoelace (@ShoelaceRecords) April 26, 2022
UMG is one of the largest music companies in the world, and have purchased multiple other music publishing companies, including EMI, one of the globe’s largest publishers prior to the acquisition. UMG has the largest market share of any record company to date.
Shoelace Records became a major publisher with their releases of popular blues artists music, most notably the music of Otis Taylor from 2000-2017, charting 5 of his albums on the Billboard 200 albums chart.
Shoelace Records representative did not share many details about the future of the company, simply stating “With our UMG partnership we will be expanding our publishing genre range, we won’t be focused on blues music anymore, but will be expanding the genres of music we represent.”
This acquisition is another UMG push to continue dominating the global music scene in the new age of music.