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Alliance Entertainment (OTC: AENT) reports that the 2023 Record Store Day achieved unprecedented success, driven by the release of Taylor Swift's folklore: the long pond sessions. The event on April 23rd is expected to exceed $32 million in retail sales, with over 800,000 units of vinyl distributed to independent record stores. This year's participation marks the largest sales day ever for Record Store Day.
Senior VP of Sales, Ken Glaser, noted year-over-year growth, while Michael Kurtz, Co-founder of Record Store Day, mentioned the potential for a #1 album on the Billboard charts, a milestone for this event. Additionally, AMPED Distribution contributed by releasing 64 unique titles, further enhancing the event's impact.
Alliance Entertainment Holding Corporation (OTC: ADRA) announced a change in its trading name and ticker symbols, effective March 20, 2023. The common stock will now trade under the ticker symbol 'AENT' and the warrants under 'AENTW.' The CUSIP numbers for both have been updated accordingly. This change aims to align with the company’s identity and enhance visibility for investors. No action is required from shareholders or warrant holders regarding this update. Alliance Entertainment is a major distributor of music, movies, and consumer electronics, boasting over 485,000 unique SKUs.
Mill Creek Entertainment, part of Alliance Entertainment, has signed a multi-year home entertainment licensing agreement with The Walt Disney Company. This deal enables Mill Creek to distribute select physical Blu-ray and DVD titles from major Disney content libraries, including ABC Signature and 20th Century Studios. Mill Creek aims to leverage its distribution network to enhance sales of these titles, marking a significant growth opportunity for the company. Alliance Entertainment's CEO expressed gratitude for Disney's partnership, viewing it as a validation of their distribution capabilities.
AMPED Distribution, part of Alliance Entertainment, has received 26 nominations for the 2023 Grammy Awards, showcasing its diverse range of artists across 22 categories. Highlights include Bonnie Raitt leading with four nominations for her album Just Like That, including Song of the Year. Other nominated artists under AMPED include Judy Collins, Danny Elfman, and Peter Rowan. The independent distributor aims to enhance the reach of its label partners globally, reflecting its commitment to promoting award-winning music across genres such as Rock, Blues, and Hip-Hop.
Alliance Entertainment Holding Corporation, a leading distributor of music, movies, and consumer electronics, will participate in the ROTH 11th Annual Technology Event on
Alliance Entertainment Holding Corporation announced its participation in two major conferences: the MicroCap Rodeo Windy City Roundup Conference in Chicago on October 12-13, 2022, and The ThinkEquity Conference in New York City on October 26, 2022. The company will hold one-on-one meetings and presentations, which can be accessed via www.adaraspac.com. Alliance Entertainment plans to go public through a merger with Adara Acquisition Corp. (NYSE: ADRA, ADRAU), expected to close in Q4 2022.
Alliance Entertainment will host an Investor Day on
Alliance Entertainment Holding Corporation announced an expansion of its line of credit to $225 million from $175 million, facilitated by Bank of America and partners. This asset-based loan aims to support operations related to accounts receivable and inventory purchases. Furthermore, on June 23, 2022, Alliance revealed plans to go public through a merger with Adara Acquisition Corp. (NYSE: ADRA, ADRA.U), expected to close in Q4 2022, with the combined entity to be traded as AENT.
