Sony Music Entertainment has acquired Supraphon, one of the oldest record labels in the Czech Republic.
The Czech music company, founded in 1932, offers a catalog that spans genres including classical, jazz, pop, rock, and spoken word.
Daniel Lieberberg, president of Sony Music Entertainment in continental Europe and Africa, announced the deal today (January 14).
As per IFPI, the Czech recording industry is projected to generate $84.1 million in 2023, with streaming accounting for $50.5 million, which represents 60.1% of the market.
This streaming figure marks an impressive growth of 18.1% year-over-year.
Libor Holecek, Supraphon’s current managing director, will continue to oversee the company post-acquisition, while Martin Kudla will stay on as chief executive.
Iva Milevá, who previously served as Chairman of the Board of Directors of Supraphon, will remain with the company as a consultant.
Supraphon brings to Sony an impressive roster that includes Karel Gott, Lucie Bila, and Marek Ztracen, along with classical music artists such as the Pavel Haas Quartet and the Czech Philharmonic Orchestra.
The strong influence of domestic artists is highlighted by the fact that Czech-language performers made it onto seven of the top 10 albums in 2023.
Sony’s announcement today notes that this acquisition represents a substantial expansion of the company’s footprint in Central Europe.
Daniel Lieberberg’s Statement
“Supraphon is a cornerstone of the Czech musical heritage with an invaluable catalog and a commitment to promoting Czech and Slovak talent that fits perfectly with Sony Music’s dedication to artist development.”
Daniel Liberberg
Discussing the acquisition, Liberberg stated: “We are proud to welcome Supraphon to the company and look forward to empowering local artists with our global experience, resources, and capabilities. Together we will celebrate and elevate Czech music on the international stage.”
Sony’s purchase of Supraphon marks the latest in a series of M&A activities in Europe.
Last month, they also acquired Cobalt Music, a prominent independent music label in Greece. These investments signal a recovery for Sony Music Entertainment Greece.
The company’s recent acquisitions align with comments from Sony Music Group Chairman Rob Stringer regarding Sony’s M&A strategy during his presentation at Sony Group’s annual business segment meeting in May 2024. “We are by far the most aggressive major music group in mergers and acquisitions over the last three years,” Stringer stated.
Sony’s M&A strategy is also targeting emerging markets. In May, Stringer noted that Sony Music “recently acquired a leading Spanish independent label, Altafonte,” and added that “we are now in our second year of integrating the Brazilian label Som Livre.”
Brazil’s competition authority, CADE (Conselho Administrativo de Defesa Econômica), approved Sony Music’s $255 million acquisition of Som Livre, which owns the largest record label in the country, back in 2022.
Lucas focuses on the interaction between music and society. He specializes in how music influences and reflects cultures, analyzing the role of sound in social, political, and cultural events around the world.
