Asia Music acquires audio-book business
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Asia Music Investments (AMI) has bought a music-book business and expanded its operations and distribution partnerships with major publishers.
The company has taken over the music-book distribution business from Gramercy Music, which occupied 2700sqft of space on Bukit Timah Road. AMI says the S$1.2 million acquisition and investment is a strategic move to expand its repertoire of services, expand its customer base and develop new competencies.
AMI also operates four music schools offering a range of musical courses including piano, violin, guitar, guzheng, vocal, erhu and dance. The music-book business deal will enable AMI to provide greater value to its students, by making available the largest and latest range of musical books in the market.
“Our acquisition has enabled us to immediately offer our customers better value-added service as they can access and purchase music books easily,” says Vivian Gao, MD of AMI.
“In addition, we are also able to strike up new partnerships and distributorships with publishers to expand the music book business.”
Customers can purchase music books online via its official online store or drop by the bookstore, which is a one-stop music concept offering books, accessories and musical instruments.
“Having a physical store enables our customers, many of whom are music teachers, to be able to conveniently compare the many books available on the shelves. This better helps them to make decisions on which books to use for teaching,” Gao added.
In May this year, AMI finalized partnerships with Alfred Music to be the exclusive distributor of its UK’s Basic Graded Piano Course series. Alfred Music is the leading publisher of music education books and currently has 150,000 titles worldwide.
It is also teaming up with Poco Studio, a music education publisher, to distribute its full range of titles in Singapore.
Questions & Answers
Q.What specifically did Asia Music acquire from Gramercy Music?
What specifically did Asia Music acquire from Gramercy Music?
AMI acquired the music-book distribution business from Gramercy Music. This business previously occupied 2700 square feet of space on Bukit Timah Road, and its acquisition cost AMI S$1.2 million.
Q.What benefits does AMI expect from acquiring this music-book business?
What benefits does AMI expect from acquiring this music-book business?
AMI expects to expand its repertoire of services, grow its customer base, and develop new competencies. The deal also enables AMI to provide greater value to its students by offering the largest and latest range of musical books.
Q.How will customers be able to purchase music books from Asia Music?
How will customers be able to purchase music books from Asia Music?
Customers can purchase music books online through AMI's official online store. Alternatively, they can visit the physical bookstore, which offers books, accessories, and musical instruments in a one-stop concept.
Q.Which publishers has AMI partnered with following this acquisition?
Which publishers has AMI partnered with following this acquisition?
AMI has finalised partnerships with Alfred Music to be the exclusive distributor of its UK's Basic Graded Piano Course series. They are also teaming up with Poco Studio to distribute its full range of titles in Singapore.
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