VIRGIN MUSIC GROUP COMPLETES ACQUISITION OF DOWNTOWN

PIETER VAN RIJN NAMED CHIEF OPERATING OFFICER OF VMG

LOS ANGELES and AMSTERDAM, Feb. 20, 2026 /PRNewswire/ -- Virgin Music Group (VMG) today announced the completion of its acquisition of Downtown Music Holdings LLC (Downtown), marking a significant milestone in the creation of a global, end-to-end solution that meets the evolving needs of independent entrepreneurs, artists, and rights holders. At the same time, Pieter van Rijn was appointed Chief Operating Officer, having been CEO of Downtown since last year. He will report to co-CEOs Nat Pastor and JT Myers and will continue to be based in Amsterdam.

Downtown Founder Justin Kalifowitz confirmed he is stepping away from the company he founded in 2007, sharing a Founder's Letter on Downtown's website. Andrew Bergman, previously Chairman of Downtown, will transition into a senior advisory role.

Initially established in 2007, Downtown collectively serves over 5,000 business clients and more than four million creators in 145 countries. Today, the company has core divisions across Artist & Label Services, Distribution, and Music Publishing. The company's portfolio of businesses includes FUGA, Downtown Artist & Label Services, CD Baby, Downtown Music Publishing and Songtrust.

With extensive leadership experience across both Downtown Music and FUGA, van Rijn has been a key architect in the development of innovative, scalable services designed to empower the independent community. As COO of Virgin Music Group, he will oversee global operations, tech, product and strategic integration across the combined businesses, as well as ensuring continuity for Downtown's clients, teams and brands while unlocking new opportunities for growth and collaboration.

Nat Pastor said: "Pieter's appointment signals our intent to bring these businesses together thoughtfully and strategically. This is about making both Virgin Music Group and Downtown even better — preserving their distinct strengths while increasing the investment, technology and global resources available to independent entrepreneurs. Pieter's experience and leadership make him the right person to help guide us forward."

Pieter van Rijn said: "This combination enhances the choice, service and global reach available to the independent community. I'm grateful to Justin and Andrew for their vision in building Downtown, and to Nat and JT for their trust as we enter this next chapter. Our focus is clear: strengthen what makes both companies special and deliver even greater value to the entrepreneurs we serve."

JT Myers said: "Today recognizes the extraordinary company the Downtown team has built. Justin's pioneering spirit — and the leadership of Andrew, Pieter and colleagues worldwide — created an organization defined by its powerful belief in independent creators. We deeply respect what this team has built and are committed to backing it, protecting what makes Downtown successful, and expanding opportunities for the global independent community."

Andrew Bergman said: "I'm extremely proud of the culture we created, grounded in trust, long-term partnership and the constant pursuit of excellence. Pieter van Rijn epitomizes that culture and watching my friend grow into such an exceptional leader has been extremely gratifying. Justin and I look forward to cheering on Nat, JT, Pieter and the combined teams as they continue to create new opportunities for the global music community."

Pieter van Rijn

Since becoming Downtown's CEO in 2024, Pieter van Rijn has been responsible for leading Downtown Music's global business and professional services, spanning distribution, artist and label services, publishing administration, neighbouring rights and sync licensing. Prior to becoming President of Downtown Music in July 2022, he served as CEO of global music distributor FUGA, joining in 2014 and guiding the company through a period of significant international expansion and technological innovation.

Under his leadership, FUGA grew to serve more than 900 industry clients across over 50 countries. Originally headquartered in Amsterdam, van Rijn expanded the company's global footprint with hubs across EMEA, North America, LATAM and APAC, transforming FUGA into a full-service label services partner offering marketing, sync, royalty accounting, physical distribution, audience development and advanced data insights, while maintaining its reputation as a leading music-technology platform.

A graduate of Erasmus University Rotterdam, van Rijn began his career as a recording and songwriting artist signed to Sony Music before moving into corporate strategy and M&A, advising some of Europe's largest companies.

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