Acquisition of Supraphon, the largest Czech independent label, expands SME's presence in Central Europe

Sony Music Entertainment (SME) has announced the acquisition of Supraphon, one of the most dynamic and influential music publishers in the Czech Republic. This acquisition represents a significant expansion of the company's presence in Central Europe.

Founded in 1932, Supraphon has always had and still has a fundamental position on the Czech and Slovak music scene and has become one of the oldest and most respected music publishers in Central Europe. Over its ninety-year history, Supraphon has amassed an impressive catalogue that is renowned for covering a wide range of genres, including pop, rock, classical, folk, jazz, timeless soundtracks and spoken word.

Supraphon's offer includes recordings by renowned and popular Czech artists such as Karel Gott, Lucie Bílá, Marek Ztracený, Škwor, Divokej Bill, Tata Bojs, Michal Horák, Olympic, Václav Neckář and Hana Zagorová, as well as music by internationally renowned classical music artists such as the Pavel Haas Quartet, Ivan Moravec, the Czech Philharmonic and many others. The label has been instrumental in preserving the cultural heritage of Czech music, promoting local artists and traditional Czech and Slovak songs that have become a symbol of the region's identity.

The Czech music market is showing steady growth with potential for further expansion. In 2023, the total recorded music market in the Czech Republic reached $84.1 million. Streaming remains the main driver of growth, contributing 60.% of the total market with a volume of $50.5 million, an increase of 18.1% from the previous year. Notably, the Czech audience is highly supportive of homegrown talent. This is evidenced by the fact that seven of the top ten best-selling songs and albums in 2023 came from Czech artists.

Libor Holeček will continue to lead Supraphon in his current role as CEO, Martin Kudla will continue to develop Supraphon's repertoire as Executive Director and Iva Milerová, who has been Chairman of the Board, will support the artists and the team in an advisory role.

"Supraphon is a cornerstone of Czech musical heritage with an invaluable catalogue and a commitment to supporting Czech and Slovak talent that perfectly matches Sony Music's efforts to develop artists," He said Daniel Lieberberg, SME President for Continental Europe and Africa. "We are proud to welcome Supraphon to our company and look forward to empowering local artists with our global experience, resources and reach. Together we will celebrate and elevate Czech music on the international stage."

Supraphon/ Sony Music/ gnews.cz - RoZ