Dubai: Chabaka, a UAE-based digital-focused music distribution business empowering independent artists and labels, was acquired by Dutch American multinational music corporation Universal Music Group (UMG).
Following the acquisition, Chabaka will become part of UMG’s Virgin Music Group, working closely with the Virgin and UMG teams in MENA. Founded by brothers Ala’a and Tarek Makki in 2013, Chabaka provides digital distribution, marketing, publishing, and label and artist services in the MENA region and has agreements with more than 150 independent artists and regional labels.
Ala’a Makki, Co-Founder and CEO of Chabaka said, “Joining forces with the largest music label in the world coincides with Chabaka’s 10th anniversary and marks an important milestone and a new phase for the company, its artists, and labels. We will drive the transformation of the regional music industry and take it to new places while creating new possibilities for local artists.”
CEO Ala’a Makki will stay to lead Chabaka, and Tarek will now be an advisor and will still lead Concast and Boomerang Studios from CHBK Group.
The region recorded the world’s fastest revenue growth in 2021 at 34 per cent and ranked third in 2022 at 23.8 per cent, according to the International Federation of the Phonographic Industry (IFPI).
Patrick Boulos, CEO MENA Region, UMG, said, “The MENA region is one of the fastest growing music markets in the world, representing untapped potential and opportunity.”
