Concord completed the acquisition of Stem Distribution.

Concord, an independent music company, completed the acquisition of Stem Distribution, a US-based fintech company specializing in royalty distribution and financial services for the music industry. Financial terms were not disclosed. “The success of the indie community is vital to the long-term growth and health of the music industry. 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,” Tom Becci, Concord Label Group CEO.