Virgin Music Group has agreed to sell Curve Royalty Systems to Jamen Capital and Merlin, a move that returns the royalty processing platform to independent ownership. The sale was a condition of the European Commission’s clearance of UMG (Universal Music Group)‘s acquisition of Downtown Music Holdings through Virgin Music Group in February of this year.
The transaction is designed to preserve Curve’s independence, with no changes to its brand, leadership team, services or client relationships. Curve President Richard Leach will continue to lead the business as standalone CEO, and the existing management and day-to-day teams will remain in place.
Strategic partnership and governance
Under the new ownership structure, Jamen Capital and Merlin will act as strategic partners with complementary roles. Merlin brings independent sector expertise and a governance structure intended to keep Curve embedded in the community it serves, while Jamen Capital contributes long-term financial backing and experience investing in music technology businesses.
The companies said the structure was specifically designed to preserve Curve’s neutrality and independence at a time of change across the music technology sector.
Executive comment
Richard Leach, CEO of Curve Royalty Systems, said:
“This is an exciting moment for Curve. Throughout this process, our priority has been ensuring Curve remains an independent and agnostic platform, with a client-first approach that has earned the trust of rightsholders across the music industry. We are delighted to be entering this new chapter with Jamen and Merlin, whose vision for Curve aligns with our own. Their support secures Curve’s long-term independence and enables us to continue investing in expertise, technology and service that our clients rely upon. We look forward to building on our success together.”
Matt Spetzler, Founding Partner of Jamen Capital, said:
“Curve is exactly the kind of critical infrastructure the independent music sector needs; trusted, scalable and built around the real operational needs of modern music businesses. What stood out to us throughout this process was not just the sophistication of the platform, but the expertise and culture of the team behind it. Curve has earned enormous trust across the industry, and we’re committed to supporting its significant growth opportunities in payments and publishing while ensuring it provides ever increasing value to its longstanding label, distributor and artist clients. Data and royalty infrastructure is only becoming more important to the future of the music business.”
Charlie Lexton, CEO of Merlin, said:
“Curve provides an essential service to independent music businesses around the world and has earned enormous trust through the quality of its service and relationships. Merlin is here to enable our members’ independence, and to be truly independent our sector needs its own infrastructure. Curve is central to that. That’s why ensuring its future independence and neutrality was vital to us and it’s why we stepped up to make this acquisition. We are delighted to support the next stage of Curve’s growth while ensuring it remains a part of the community it serves.”
Pieter van Rijn, COO, Virgin Music Group / CEO, Downtown Music, said:
“Given the strength of our relationships within the independent community, we are happy that Jamen and Merlin are buyers that will help Curve continue to thrive as an exceptional resource to independent labels and entrepreneurs. Downtown and Virgin Music Group wish Richard and the Curve team every success in the future, and we’re pleased we will continue to benefit from their services as a client.”
Client base and closing conditions
The companies said Curve would continue operating as a standalone and separate business, with no immediate changes to services offered, customer support, account management or existing contracts.
The transaction comes as royalty infrastructure has gained strategic importance, with increasingly complex global rights flows, metadata requirements and reporting demands placing greater emphasis on transparent, scalable accounting systems.
Curve currently provides royalty processing services across the recorded music and publishing sectors. Its client roster includes the following, among others:
- Armada
- Defected
- Epitaph
- Exceleration
- Reservoir
- Sony Pictures Entertainment
- Virgin Music Group
- Netflix
- BBC/Demon
The companies added that the acquisition would allow Curve to continue developing new products, integrations and international growth opportunities while maintaining its existing mission and operational focus.
Financial terms of the transaction were not disclosed, and the acquisition remains subject to final European Commission approval before closing.
