Martin Mills
Beggars Group Ownership Transferred to Trust
The 2024 move recently came to light in the indie company’s annual earnings filing
UK indie music company Beggars Group has confirmed its ownership was transferred to a Trust in October 2024, as per Music Business Worldwide.
The details:
Though Beggars has been owned for many years by its Chairman Martin Mills, the company was in 2024 transferred to a Trust connected to Mills, the MM Settlement Trust.
The move came to light in Beggars’ recently filed annual earnings document.
The reason:
In a statement to Music Business Worldwide, Beggars said the transfer of shares to the Trust “aims to preserve the company’s independence and help to ensure continuity over future generations, in the interests of both artists and employees.”
Mills and CEO Paul Redding continue to manage the business, while the share structure of its principal UK-based entities has been adjusted in light of the ownership transfer.
What they said:
Martin Mills (to Music Business Worldwide): “Beggars’ label partnerships will be run by the Trust in the same spirit of equality and managed through the same process of consensus as has been the case for decades.”
UK indie music company Beggars Group has confirmed its ownership was transferred to a Trust in October 2024, as per Music Business Worldwide.
The details:
Though Beggars has been owned for many years by its Chairman Martin Mills, the company was in 2024 transferred to a Trust connected to Mills, the MM Settlement Trust.
The move came to light in Beggars’ recently filed annual earnings document.
The reason:
In a statement to Music Business Worldwide, Beggars said the transfer of shares to the Trust “aims to preserve the company’s independence and help to ensure continuity over future generations, in the interests of both artists and employees.”
Mills and CEO Paul Redding continue to manage the business, while the share structure of its principal UK-based entities has been adjusted in light of the ownership transfer.
What they said:
Martin Mills (to Music Business Worldwide): “Beggars’ label partnerships will be run by the Trust in the same spirit of equality and managed through the same process of consensus as has been the case for decades.”
UK indie music company Beggars Group has confirmed its ownership was transferred to a Trust in October 2024, as per Music Business Worldwide.
The details:
Though Beggars has been owned for many years by its Chairman Martin Mills, the company was in 2024 transferred to a Trust connected to Mills, the MM Settlement Trust.
The move came to light in Beggars’ recently filed annual earnings document.
The reason:
In a statement to Music Business Worldwide, Beggars said the transfer of shares to the Trust “aims to preserve the company’s independence and help to ensure continuity over future generations, in the interests of both artists and employees.”
Mills and CEO Paul Redding continue to manage the business, while the share structure of its principal UK-based entities has been adjusted in light of the ownership transfer.
What they said:
Martin Mills (to Music Business Worldwide): “Beggars’ label partnerships will be run by the Trust in the same spirit of equality and managed through the same process of consensus as has been the case for decades.”
👋 Disclosures & Transparency Block
This story was written with information from Music Business Worldwide.
We covered it because it’s news of a change to the ownership structure of a prominent independent music company.
📨 Subscribe to NIF
Get news dropped in your inbox 👇
📨 Subscribe to NIF
Get news dropped in your inbox 👇
Related Articles
Business & Finance
Jan 29, 2026
1 min read
Spotify Paid $11 Billion to the Music Industry in 2025
The figure is up 10% on 2024
Business & Finance
Jan 28, 2026
1 min read
Native Instruments Begins Preliminary Insolvency Proceedings
The prominent music tech brand will soon undergo major restructuring and asset sales
Business & Finance
Jan 23, 2026
1 min read
Merlin Partners with B2B Financing Solutions Provider Pipeline
The news follows Pipeline’s launch with over $200m in capital
Spotify Paid $11 Billion to the Music Industry in 2025
The figure is up 10% on 2024
Rod Yates
Business
Jan 29, 2026
Native Instruments Begins Preliminary Insolvency Proceedings
The prominent music tech brand will soon undergo major restructuring and asset sales
Harry Levin
Business
Jan 28, 2026
Merlin Partners with B2B Financing Solutions Provider Pipeline
The news follows Pipeline’s launch with over $200m in capital
Rod Yates
Business
Jan 23, 2026
Duetti Raises $200M to Expand Indie Catalog Acquisitions and Platform
Includes a $50 million Series C equity investment from The Raine Group
Rod Yates
Business
Jan 22, 2026
Independent Music Financing Platform ‘Pipeline’ Launches
Seeks to become “the largest funder of independent music globally”
Rod Yates
Business
Jan 21, 2026
Tiny Vinyl Expands into Europe
Taps Ruben Planting to lead European operations
Rod Yates
Business
Jan 20, 2026
