That’s according to sources close to Billboard, who suggest that the company now turns around around $150m annually.
INgrooves majority owner Shamrock Capital is reportedly seeking a buyer for the company, which works with indies such as Dirty Hit, Strange Music, Rostrum and many more.
INgrooves also offers publishing, neighboring rights and artist services to its clients.
With a 2% market share in the US market, Billboard suggests that potential acquirers of INGrooves could include Universal Music Group, Sony Music, Warner Music Group, Kobalt, BMG, Concord Music, Believe and [PIAS].
Universal previously owned 51% of INgrooves, but is now a minority shareholder. In 2010 Shamrock bought into the firm – subsequently implementing a merger with UMG’s independent label distribution company Fonatana which gave Universal a 22% stake.