Photo Credit: Armanino LLP
The former FTX auditor Armanino has announced it has acquired two music firms—Blue Sky Group and Royalty Compliance Organization.
Nashville-based Blue Sky Group and music rights and royalty auditing firm Royalty Compliance Group (RCO) will join Armanino effective April 1, 2023. “This will make Armanino one of the only business management groups in the world that will be able to offer the full slate of entertainment services while allowing us to deepen and expand our reach into Nashville, which we view as extremely important for our growth goals,” says Craig Manzino, Partner at Armanino.
The Blue Sky Group with Harlan Hallet and Steven McMillan and RCO with Wayne Coleman and Darla Crain will integrate into Armanino, bringing a wealth of talented entertainment business managers and audit experts in royalty compliance, valuation services, and litigation support capabilities that propel Armanino forward in delivering preeminent entertainment and business management services.
Armanino served as the auditor for failed cryptocurrency exchange FTX in 2020-2021. The company stands by those audits and has since exited the cryptocurrency market. Meanwhile, members of the accounting firm’s digital-asset practice left to form their own startup called The Network Firm to continue working with crypto clients.
The acquisitions will provide Armanino’s Business Management team with a new office in Nashville, joining its NYC and LA offices. “As far as industry-leading experts, we could not be more thrilled with the knowledge and talent that Blue Sky and RCO bring to our team, we know this will be incredibly valuable for our clients,” adds Craig Manzino, partner, Business Management at Armanino.”
Armanino says the addition of these firms comes as the entertainment industry needs royalty compliance and auditing services more than ever. The acquisitions position the company to take advantage of growth in the business, with offices serving the entertainment industry in three major US cities.