New York, NY – Downtown Music Holdings, the world’s leading music services provider, today announces that Tracy Maddux will be stepping down from his role as Chief Commercial Officer, effective immediately. Maddux has been a vital part of Downtown's leadership team, significantly contributing to the company’s robust growth and strategic acquisitions.
Since he joined CD Baby in 2010, Maddux has steered the company through a period of significant expansion, driving value for its diverse roster of more than two million independent artists and labels. During his ten years as CEO, he navigated fundamental changes in the way music is released and consumed and shepherded more than a billion dollars of royalty payments to independent artists worldwide. Most recently, Maddux contributed to the strategic acquisitions of FUGA in 2020 and Curve Royalty Systems in 2022, bolstering the company's innovative solutions and global reach.
“It has been a remarkable journey at Downtown, and I am proud of everything we have achieved together,” said Maddux. "From the strategic sale of CD Baby, AdRev, and DashGo, to leading our M&A practice and working towards the integration of FUGA and Curve, we have set new industry standards. I am now eager to embrace new challenges and opportunities that lie ahead. I want to thank Andrew Bergman and Justin Kalifowitz for their unwavering support and partnership during our work together over the past 13 years.”
Downtown Music Holdings’ CEO, Andrew Bergman, expressed his deep appreciation for Maddux’s contributions, noting, “Tracy has made material contributions to our culture and to the growth of the business. He’s universally respected by his peers and I personally consider myself fortunate to have worked alongside him. We look forward to our continued association with Tracy.”
Maddux has committed to continue providing his insights and expertise to Downtown Music Holdings, serving as a consultant and advisor in support of key strategic initiatives throughout 2024.
Downtown Music Holdings remains dedicated to supporting the global creative community, ensuring artists, labels, and publishers receive the recognition and royalties they deserve. The company will continue to innovate and expand under its strong leadership team.