The biggest independent music company in the Nordics changes ownership

"It is not only a passion for music that is behind this management buy out, but also the fact that we see a huge potential in the company," says Fredrik Ekander, CEO, Bonnier Amigo Music Group.

Together with Cai Leitner, MD Norway and Denmark, he is heading up the acquisition.

Bonnier Amigo Music Group was founded in 1999 to sign and develop Nordic artists and to distribute music from other independent companies. The company has a solid track record of marketing and distributing successful artists, which includes names like Katie Melua, Madcon, Sunrise Avenue, Henning Kvitnes, Amy Diamond, Hello Saferide, Robyn, Jose Gonzales, Slipknot, Miss Li, The Paperboys, Ane Brun, Fleetfoxes, Oasis, The Prodigy, Tom Waits, Nickelback and many more.

The biggest indie in the Nordics

Torsten Larsson is CEO for Bonnier Entertainment and originally founded Bonnier Amigo Music Group:

"Bonnier started the company ten years ago, in an expanding market, with the goal and ambition to become the biggest independent record company in the Nordics. We managed to secure the market share we had set as a target, but without being able to live up to the profit margins that a big media company like Bonnier places on any of its subsidiaries."

Majors and the independent

"It is very important that there is one strong independent music company left on the Nordic market. For those of us who have been in the business for a while, it's obvious that the traditional record company business model of the last few decades is outdated," Fredrik Ekander says. "Apart from the multinational major companies, the future business will be made up of a large number of smaller music companies led by skilled and hard working enterpeneurs. Our company now needs an even stronger focus on the development of new music and talent along with new ways to market this. For us who are taking over Bonnier Amigo, the key words are entrepreneurship, personal committment and creativity. Through innovation and new business models, we will generate both growth and profit. If we were uncertain about the possibility to achieve this, we would not have had tried to take over the company. It's as simple as that."

Ekander and Leitner lead the consortium that have acquired the company and that is financing the deal and future operations. Included in this group is also Kent Gillström from independent music company and recording studio Cosmos.

Artists and strategic alliances

"Above and beyond an increased focus on new talent, we will work even harder on finding new channels through which to present our artists' music," says Cai Leitner. "The distribution of music from other independents is a very important part of our business model and we will seek new strategic alliances to strenghten and grow this area of operations even further."