Romanian label Global Records says it’s on track to generate $54 million in 2024 and plans “significant” US expansion after acquiring Honua Music

The Romanian label Global Records aims to expand globally.

Bucharest-based Global, which claims to be the largest independent record label in Eastern Europe, has launched a new Los Angeles-based subsidiary called Honua Music Group.

The new division was created as a result of Global’s acquisition of the independent American music publisher Honua Music.

Global had previously invested in the company, owning, among others, 10% stake in Honua, but has now confirmed that it has fully acquired the independent publisher, founded in 2011 by industry veteran Ron Moss and producer and songwriter Axident (Andreas Schuller).

Global’s acquisition of Honua occurred in a year (2023) in which Global’s annual revenues exceeded 33 million euros ($35.7 million at the average annual exchange rate published by the IRS).

Owner of Global Records Stephen Lucian told MBW that in 2024, the company “intends to achieve (annual revenue) over 50 million euros (approximately $54 million at current exchange rates)” and aims to maintain “the momentum of our recent EBITDA margin of 24%.”

Asked if Global plans to make further acquisitions, Lucian said: “If the opportunity arises, we are definitely open to pursuing it.”

Added Lucian: “When it comes to acquisitions, our approach is different from the mainstream strategy of collecting catalogs from different entities. Instead, we are constantly looking for strategic partners with whom we can build strong relationships and success stories.”

Honua boasts record cuts for its total billions streams and have earned over 100 gold and platinum certifications with superstars such as Justin Bieber, Dua Lipa, Jason Derulo, Pitbull, Jessie J and Zedd.

The company’s credits include Honua co-founder Axident, who has co-written/produced songs for Jason Derulo (Wiggle), Justin Bieber (Company), Pitbull (Fireball) and many others.

Honua also has Alida today, who has written for artists such as Katy Perry, Alok, Robin Schulz, R3HAB and Kylie Minogue, as well as Gladius (Demi Lovato, Justin Bieber, Ty Dolla Sign, XXXTentacion), Lawson (Drake, Bryson Tiller, Moneybagg Yo), Eugene Tsai (Tory Lanez, Lil Dicky, Logic). Other Honua songwriters include Sean Fischer, Ally, Ahern, Dotter, Dino Medanhodzic, Larus Arnarson, Johnny Orlando, TAELA, Luch, Stefi Novo, Magsy and Tommy Driscoll.

Global Records owner Stefan Lucian explained that “the collaboration between Global Records and Honua Music has a long history.”

He added: “We have a long-term and fruitful cooperation with Axident, which began with the global hit Cola Song (INNA featuring J.Balvin).

“The success of the song was quickly followed by another great collaboration, and given Honui’s extraordinary team and their outstanding achievements internationally, it’s hard to imagine finding a better partner.”

Lucian added that the acquisition, which was completed late last year, was “an important milestone in Global’s business journey” and was part of its expansion plan “in multiple territories.”

He added that Global’s goal is to “significantly expand our presence in the U.S. market over the next 5 to 10 years.”

On behalf of Honua, company co-founder Andreas Schuller (Axident) told us: “Our goal is to be the best publishing company in the world. Global is the best partner to help us take our model and vision to the next level.

“When it comes to acquisitions, our approach differs from the mainstream strategy of collecting catalogs from different entities. Instead, we are constantly looking for strategic partners with whom we can build strong relationships and success stories.”

Ștefan Lucian, Global Records

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According to Global’s Ștefan Lucian, since the Honua deal, the company has hired five songwriters, including Keith Lawson (aka Lawson), who co-wrote the song 7969 Santa ft. Teezo Touchdown on Drake’s For All The Dogs album. The song debuted at number 16 on the US Hot 100 charts.

Other recent Honua signings include singer-songwriter Taela (Capitol Records/Young Forever), Johnny Orlando (Universal Music Canada), Los Angeles producer Tommy Driscoll and Toronto producer Eugene Tsa, who has recorded with artists such as Tory Lanez, Lil Dicky and logic.

Looking to the remainder of 2024, Ștefan Lucian said Global Records “intends to consolidate our position as the largest independent label in Central and Eastern Europe (CEE), while increasing our market share in Western territories.”

In terms of recorded music, Lucian said the company has “focused on developing the talents of two German DJs, Danny Chris and Jost, who have impressive releases and collaborations under their belt.” He added: “Plus, we have some exciting artists in the pipeline who will be hitting the market soon.”

The music company, founded by Ștefan Lucian in 2008, recently expanded into Germany, the fourth largest recorded music market in the world, by opening a new office and studios in central Berlin.

Global’s expansion into the GSA region follows success with artists such as INNA and Minelli in the CEE region, but also in countries and regions such as France, the Nordics and Benelux.

The company boasts a catalog of 5,500 editions. It operates seven labels that have collectively generated over 20 billion streams to date.Music business around the world