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Switzerland-headquartered tech firm Utopia Music has appointed Alain Couttolenc as its new CEO.
Utopia co-founder Mattias Hjelmstedt, who has been main Utopia as its Govt Chairman since February 2023, will step down from his govt place and resume his former function as Chairman of the Board.
In an announcement issued on Thursday (October 19), Hjelmstedt mentioned that he “stepped into the function as Govt Chairman to information Utopia by way of a troublesome however vital transformation that was introduced on by modified market circumstances”.
He added: “I’m extraordinarily happy with all of the colleagues who’ve stepped up and delivered for our clients throughout this era. With numerous this work being behind us, I’m now very excited handy over to Alain.”
That “transformation” began in round January when Hjelmstedt announced a significant restructure which he mentioned on the time represented “an thrilling subsequent step in Utopia’s journey”, and proved that his firm was “optimizing for the longer term”.
The restructure noticed Utopia’s long-time CEO, Markku Mäkeläinen, depart the firm, whereas Hjelmstedt assumed accountability for the day-to-day working of the corporate.
On the time, Utopia was cut up into two distinct divisions: (i) ‘Music Providers’ (together with acquired companies such because the UK-based trio of Sentric Music Group, Absolute Label Services, and Correct, which it acquired in January 2022); and (ii) ‘Royalty Platform’, underneath which sat Utopia’s in-house tech platform.
Former Downtown govt Roberto Neri, who joined Utopia as its COO in 2021, was confirmed as the brand new CEO of Utopia’s ‘Music Providers’ division, however on April 3, simply 62 days after that announcement, Neri confirmed he was leaving Utopia to develop into CEO of the brand new international publishing division of Believe.
Utopia has additionally been making headlines this 12 months for different causes. In July Utopia Music made a spherical of layoffs affecting 5% of the corporate’s 474 workers. These job cuts observe the announcement of widespread layoffs at Utopia final November, through which it’s believed round 20% of the corporate’s workforce left their positions.
One other round of job cuts this previous April resulted in one other 15% of the corporate’s employees departing.
These job cuts in July meant that the corporate’s last employees depend had fallen to between 430 and 440 folks, a Utopia spokesperson instructed MBW. That’s down from an estimated 1,200 employees on the firm’s peak. Full Music Replace reported earlier this month that Utopia’s headcount has been decreased additional as a part of ‘an total price discount train’.
Utopia has additionally divested three corporations this 12 months that it beforehand acquired inside the previous 18 months.
In February, we discovered that Utopia had decided to sell ROSTR again to its founders Mark Williamson and Adam Watson.
In March, Utopia sold Sentric to Paris-headquartered Imagine in a transaction Imagine mentioned values Sentric at €47 million ($51m).
In July, Absolute Label Providers was reacquired by its authentic management staff.
Previous to becoming a member of Utopia, Couttolenc served because the Chief Improvement Officer at Ipsos, one of many world’s largest knowledge corporations.
There he spearheaded international M&A actions, joint ventures, cooperation agreements, licensing, and partnerships throughout 89 nations.
Utopia says that his “affect prolonged to exterior relations” inside the market analysis business and organizations similar to ESOMAR and the World Financial Discussion board.
Earlier than his tenure at Ipsos, Couttolenc held a number of high management roles at Nielsen Media, an organization that gives market analysis and evaluation of media and viewer interactions globally, most notably as SVP for Latin America after which later as CEO Europe Nielsen Media.
Based on Utopia, Couttolenc “will deal with translating knowledge into music intelligence by constructing sensible and intuitive companies to totally unlock the worth of music by way of accelerated cost cycles, distribution companies, and improved insights”.
“I stepped into the function as Govt Chairman to information Utopia by way of a troublesome however vital transformation that was introduced on by modified market circumstances.”
Mattias Hjelmstedt, Utopia Music
Mattias Hjelmstedt, co-founder and Chairman of Utopia Music, mentioned: “I stepped into the function as Govt Chairman to information Utopia by way of a troublesome however vital transformation that was introduced on by modified market circumstances.
“I’m extraordinarily happy with all of the colleagues who’ve stepped up and delivered for our clients throughout this era. With numerous this work being behind us, I’m now very excited handy over to Alain.”
Added Hjelmstedt: “He has a protracted and profitable monitor report as a worldwide enterprise chief and has a deep understanding of knowledge and its implementation. Very importantly, he additionally has a background in media and music, and a large worldwide community.
“The Board and I are assured that Alain is the best particular person to achieve realizing our mission to develop the music business by way of modern knowledge options and unmatched distribution capabilities – that’s how we’ll attain profitability and obtain long-term sustainable development.” –
“I’m honored to affix such a dynamic firm that’s supporting the expansion of my best ardour – music.”
Alain Couttolenc
Alain Couttolenc, CEO of Utopia Music, mentioned: “I’m honored to affix such a dynamic firm that’s supporting the expansion of my best ardour – music.
“My important focus shall be to contribute with what I do know finest: creating excellent companies by leveraging knowledge and driving development. The dedication and fervour exhibited by the groups at Utopia, mixed with the potential for innovation and development, are really inspiring.”
Added Couttolenc: “In shut collaboration with the music business, we’ll ship excellent services and products to our purchasers and all business stakeholders throughout the globe.
“An essential activity shall be to develop and construct groups the place folks can ship worth and thrive of their roles – readability, agility, and an open and sincere tradition shall be extraordinarily essential for achievement.”
Elsewhere at Utopia, in Could, the corporate entered into a “long-term” £100 million-plus ($125m) contract with DP World, a multinational UAE-headquartered logistics firm, to offer warehousing and logistics for bodily music within the UK.
As a part of the deal, DP World is becoming out a brand new warehouse in Bicester, within the UK for Utopia’s distribution unit, Utopia Distribution Providers (UDS).
Utopia mentioned that inventory shall be shifting from UDS’ warehouse in Aylesbury, UK (which it says it “inherited” from UK warehouse, achievement and distribution agency Cinram Novum, whose belongings Utopia acquired in 2022.)
In July, MBW listened in to and reported on an interview with Utopia founder Mattias Hjelmstedt on the Dealmakers podcast with Alejandro Cremades, the place he dropped some hints as to what has been occurring with the corporate of late.
Different corporations acquired by Utopia embody, in October 2022, Nashville-based monetary companies firm, Lyric Financial and in September, 2022 Utopia purchased Quincy Jones-backed emotional knowledge enrichment firm Musimap.
Music Enterprise Worldwide
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