Warner Music Group Acquires Slovakia’s Forza Music

Warner Music Group has acquired Slovakian entertainment company Forza Music, growing its footprint in one of the fastest growing markets in central Europe.    

Forza Music, founded in 1994, is the second largest label in the country after Universal and owns the catalog of OPUS, Slovakia’s former state-run record company, which produced the vast majority of the country’s music releases from the 1960s to the 1990s.    

IFPI’s latest Global Music Report ranks Slovakia as the 50th biggest in the world, with music sales totaling $14.3 million in 2018, up 8.4% on the previous year. Streaming accounted for 33% of those sales.

Following the acquisition, Warner Music will revive the OPUS brand in Slovakia, focusing on pop, rock and children’s repertoire and headed by local record producer and Forza CEO Julius Kincek.   

Kincek will focus on getting the full OPUS catalog on all streaming services and growing sales for well-known local artists Collegium Musicum, Karol DuchoŇą, Marika Gombitov√° and Team.

The full OPUS catalog consists of hundreds of albums with more than 250 actively exploited. Warner intends to steadily increase this number in the months and years ahead. Financial terms for the deal were not revealed.

“We’ve performed extremely strongly in the Czech Republic and Slovakia under Vladimir’s leadership,” said Alfonso Perez-Soto, EVP, Eastern Europe, Middle East and Africa in a statement. He went on to say that the acquisition of Fonza Music cemented a “unique link between Warner Music and Slovakia” and was “just the latest step in our strategy of expanding Warner Music’s footprint in emerging markets around the world.”

Source: Billboard