Downtown Music Holdings has announced an executive shuffle.
Current CEO Justin Kalifowitz will take on a new position as Executive Chairman. Current COO Andrew Bergman will assume day-to-day responsibilities as the company’s CEO, starting September 1.
Kalifowitz has served as the CEO of Downtown Music Holdings for 14 years. “Downtown has always set ambitious goals both internally and with respect to our role in driving equity and innovation across the music industry.”
“As we continue to expand our market position by empowering entrepreneurial creators and their partners, Andrew’s unrivaled knowledge of the business coupled with his operational excellence make him the perfect choice as our next CEO,” says Justin Kalifowitz.
“With Andrew managing day-to-day operations for Downtown, I’m looking forward to continuing to work closely together in advancing the organization’s strategic development at an accelerated pace.”
“I feel very fortunate to continue my 14-year collaboration with Justin in my new role as CEO, and I am executed about what we will accomplish together in Downtown’s next growth stage,” says Bergman.
“With an exceptional team, global operations, industry-leading technology, and substantial capital resources, Downtown is well-positioned to continue expanding our role as the leading service provider to the global music industry.”
Andrew Bergman joined Downtown in 2008 as General Counsel and Executive Vice President. He was promoted to his current position of COO in 2014. Most recently, Bergman helped architect Downtown’s M&A integrations and operations spanning more than 500 employees on six continents.
Downtown Music Holdings is the world’s leading service provider to the industry. It has a strong foundation centered on service, providing solutions for creators and businesses at all stages, including distribution, rights management, royalty collection, creative marketing, and promotional services.
Downtown manages more than 23 million music assets on behalf of over one million artists and enterprise clients. Its catalog spans over 100 years of popular music, including music from film and television.
Downtown’s focus on services is leading the transformation of the global music industry. The rapid adoption of streaming services by consumers and the increase in the volume and diversity of content means independent artists now represent 31% of total streams on Spotify.