Alliance Entertainment to Attend Music Biz 2024 in Nashville

Company to Highlight Continued Success of Physical Media with Attendees

K-Pop Sales Up 56.2% YoY through March 2024 to $49.8 Million

PLANTATION, Fla., April 16, 2024 (GLOBE NEWSWIRE) -- Alliance Entertainment Holding Corporation (Nasdaq: AENT), a global distributor and wholesaler specializing in music, movies, video games, electronics, arcades, toys, and collectibles, will attend the Music Biz 2024 conference being held on May 13-16, 2024 at the JW Marriott Nashville in Nashville, Tennessee.

The Music Business Association (Music Biz) brings together more than 2,100 global music professionals for industry-defining conversations and connections to help shape the future of the music business and best serve the needs of all music professionals. Music Biz is a not-for-profit membership organization that advances, promotes, and invests in the future of the music business by providing a trusted forum where ideas and cooperation flourish.

Alliance Entertainment Executive Chairman Bruce Ogilvie, CEO and CFO Jeff Walker, SVP Sales Ken Glaser, SVP Purchasing Laura Provenzano, and Amped VP Dean Tabaac will attend the conference, meeting with key suppliers and retailers to discuss upcoming initiatives and business development opportunities. Management from the company’s Independent Music distribution arm, AMPED Distribution, will also attend the event and meet with its exclusive labels in attendance.

“We look forward to attending one of the music industry’s flagship conferences, with many of our trading partners in attendance,” commented Bruce Ogilvie, Chairman of Alliance Entertainment. “We are also proud to have Ken Glaser be a part of the Physical Business Action Committee of Music Biz as well as an active member of the Board. This gives us a voice within the industry to promote the value of physical products to artists, labels, management companies and more, and help represent retailers of all sizes. These retailers play an integral role in their local communities and the industry as a whole.

“This value of physical media was recently highlighted in 2023 statistics from the Recording Industry Association of America (RIAA), which reported that revenues from physical music formats of $1.9 billion were up 11% versus the prior year. Alliance Entertainment’s sales of physical music exemplify this trend, with higher average selling prices in our fiscal second quarter over the prior year. The popularity of K-Pop drove that segment’s gross revenue up 56% over the past twelve months, helping us realize a 19% increase in the average selling price of CDs. We look to improve upon these results amid the growth of K-Pop on the vinyl format this year, highlighted by AMPED distributing the first ever Record Store Day K-Pop vinyl exclusive from ATEEZ (Kai Media) coming on April 20th.