Australia’s largest independent label Inertia Music has been acquired by Pixies and Crystal Castles’ music company, [PIAS].
Inertia, which includes Fairgrounds Festival, Handsome Tours, Gaga Music and Collective Artists, announced the sale of its 17-year-old in-house label overnight.
Tone Deaf sources told us Inertia Music had been for sale for at least three years prior to the acquisition. According to past employees of fellow independent label Shock Records, the Melbourne-based label expressed interest in purchasing Inertia Music in 2014.
Inertia told Tone Deaf it’s “business as usual” for its operations and its branding. However, from April 1, Inertia Music will represent the artist and label roster of the [PIAS] Group in Australia, including Faith No More, Band of Skulls, Dinosaur Jr., Enter Shikari, First Aid Kit, Tiësto and The Darkness.
[PIAS] Australia is a joint venture between [PIAS] and the Mushroom Group but from April 1, Inertia Music will take over from Mushroom as the co-operator, handling [PIAS]’s international roster in Australia.
While the price tag for Inertia Music hasn’t been revealed, MBW reported the annual revenue of Inertia Music “typically tops AU$15m.”
That should come as no surprise; Inertia Music independently releases Sia’s outputs in Australia, has signed global acts like Robyn and M83, and has distribution/services deals with indie label heavyweights like 4AD, XL Recordings and Secretly Canadian.
Inertia Music will continue to be overseen by Australian music executive CEO Colin Daniels. Daniels, who was Senior A&R Director Europe for EMI from 2000-2002, is of course travelling in the UK – most likely planning Inertia’s global takeover.
Tone Deaf has reached out to Daniels for further details on the sale.
Inertia Music co-founder Ashley Sellers said:
“Inertia’s mission has always been to empower artists independently – a vision and passion that we share with [PIAS].
“This partnership will plug Inertia Music’s existing operations into the world class services offered by [PIAS], strengthening our connection with the international stage for our incredible roster of local artists.”
[PIAS], which includes three core divisions: [PIAS] Recordings, [PIAS] Cooperative, and [PIAS] Artist & Label Services, is celebrating its 35th year of operations in 2017.
Kenny Gates, Co-founder & CEO of [PIAS] said:
“We are very excited to have Ashley, Justin, Colin and the whole Inertia team joining the [PIAS] network and family. [PIAS] and Inertia share the same values and vision for our industry and that is why our new partnership is such an obvious and natural fit.
“[…] Over and above the focus we both have for building a strong and prosperous business, we believe there is a heartbeat that pulses through our shared passion for music.
“The combined offering of the [PIAS] network and Inertia’s expertise and experience will make a true difference for the independent community in Australia and New Zealand.”
