The Outdustry consulting company established itself as one of the leading Western experts in China's music industry before turning its attention to India. This week, it acquired Virgin Music Group from UMG and will now analyze these and other highly promising markets.
Virgin announced that Outdustry will continue to operate under its current brand and provide marketing, publishing and music label services. CEO Ed Peto will also be given a new role as Senior Vice President of International Strategy at Virgin Music Group. "Ed will be a key participant in developing our plans for global expansion," said JT Myers, Co—CEO of VMG. "Integrating everything we have created in the Outdustry into the Virgin Music Group opens up huge opportunities to realize our ambitious goals on the international stage," Peto added.
