AIM

A Statement from AIM's Paul Pacifico on the CMA's ruling on Sony's acquisition of AWAL

"Without pathways for growth for independent entrepreneurs, we can expect to see a gradual erosion of competition across the sector..."

London, 16th February 2022

Paul Pacifico, CEO of the UK’s Association of Independent Music (AIM), has made the following comment on the CMA’s provisional conclusions in its investigation into Sony’s acquisition of AWAL.
“Whilst the CMA has ruled that AWAL’s acquisition is not enough to substantially reduce competition by itself, it is part of a pattern that threatens to gradually erode competition and diversity in UK music if independent entrepreneurs continue without much-needed access to capital. 
 
“Sony arguing that even a hugely successful independent like AWAL would have struggled to maintain its position alone highlights the sector’s need for better support to scale-up.  Without pathways for growth for independent entrepreneurs, we can expect to see a gradual erosion of competition across the sector, damaging innovation, diversity and leading to less favourable conditions for artists.”
AIM

AIM is the not-for-profit trade body exclusively representing the UK’s independent music sector. Our members range from the largest, most respected record labels and associated music businesses in the world to self-releasing artists and the next generation of entrepreneurs in music.