Integrity Media, a distributor of Christian media, announced today the sale of their assets to the Colorado ministry David C Cook.
Integrity’s CEO, Michael Coleman, said in a statement that the decision was necessary due to the changes in the music industry and the low sales as a result.
“At the end of 2010, music business sales were less than half of what they had been 10 years ago,” said Coleman. “Music sales and licensing in the U.S. alone dropped from $14.6 billion to $6.3 billion between 1999 and 2009 and the decline has continued into 2011. And on top of the general economic downturn, music companies are facing challenges like digital piracy and a shift in consumer thinking from ‘ownership’ to ‘access.’”
He added, “The company has been making changes to try to adapt to these monumental shifts in the marketplace but it has been quite a challenge. An earlier staff reduction and the listing of our property in West Mobile were part of the most recent changes. This combined with the sale of our music assets will help us address a number of issues as we navigate this changing landscape."
In addition to the sale, Alabama-based Integrity plans to sell their international divisions located in the United Kingdom, Singapore and South Africa.
David C Cook’s former senior vice president of sales and marketing, C. Ryan Dunham, will serve as the president for Integrity Music.
He stated, “The acquisition of Integrity Music makes sense from both a ministry as well as a business standpoint. Both organizations are widely respected for their international reach and their worship music catalogs.”
“David C Cook is no newcomer to the worship music ministry. In 1993 Cook acquired Kingsway, a worship music company in Eastbourne, England, and partnered with EMI Christian Music Group to produce the Thank You Music song catalog," Dunham continued.
While Integrity will operate independently within David C Cook, its headquarters will be relocated in Colorado Springs after the 90-day transition is completed.
The sale’s impact on the artists was not directly addressed in the statement, but the company promised a fresh perspective and a greater variety of worship titles. The company also said it will provide more options for a meaningful worship to the global church.
Coleman told Charisma, “Cris Doornbos (CEO of David C Cook.) and I share a deep passion for serving the global church and for the role worship music plays in making disciples around the world.
“As Integrity prepares to celebrate 25 years in ministry, I look forward to seeing the expanding impact of Integrity songs and products around the world.”