Impala, AIM Express Concerns As Brexit, UMG Sale Loom
As Brexit uncertainty grows and suitors circle Universal Music Group, EU independent music trade groups IMPALA and AIM are calling on both the EU and the UK to ensure that the needs of the cultural and creative sectors are prioritized in negotiations.
The IMPALA board held their board meeting in London yesterday, where it was agreed that sector specific deals must be on the priority list for negotiators.
"The relationship between the UK and the rest of Europe is vital for the whole music market" said Helen Smith, Executive Chair of IMPALA. "With the ongoing uncertainty and fatigue that surrounds Brexit, it is vital we double our efforts to ensure that sector specific deals remain possible. The voice of the cultural and creative sectors must be heard."
Paul Pacifico, CEO of AIM added, "Priorities include free movement of artists and cultural workers, implementing the copyright directive and ensuring the smooth functioning of reciprocal agreements for performance and broadcast revenue across Europe.”
The sale of Universal was also discussed, since it would require regulatory approval in both the EU and the UK. Google and other possible purchasers have been referred to in the press. "None of the possible purchasers of Universal mentioned so far would secure regulatory approval. It is vital that the UK regulators are geared up on this, as well as the EU,” Helen Smith commented.
At the AIM Connected conference this week, session leader Paul Pacifico noted, “It is important for music and other sectors to raise their voice as they have particular value to both the EU and the UK economy".