The Deals: Exceleration Invests in Indian Label; Encore Luxury Coach Leasing Acquires Competitor
Written by djfrosty on September 7, 2023
Exceleration Music formed a strategic partnership with Azadi Records, an India-based independent label co-founded in 2017 by Mo Joshi and Uday Kapur. Under the deal, which marks Exceleration’s first in Asia, Exceleration has made a financial investment in the label to help fuel its growth. Azadi will also benefit from access to Exceleration’s worldwide team and infrastructure, with Exceleration partner Charles Caldas joining Azadi’s board to help guide the label’s strategy, performance and development. Azadi Records artists include Indian hip-hop duo Seedhe Maut, producer Sez on the Beat and rapper Prabh Deep, who won a Toto Funds the Arts (TFA) award — a major independent music prize in India. Forthcoming releases on the label include Seedhe Maut’s mixtape Lunch Break, an EP from Ranj & Clifr and a collaborative album from United Kingdom-based rappers Sonnyjim and PAVAN.
Encore Luxury Coach Leasing acquired Nitetrain Coach Company in Whites Creek, Tenn., making it the largest entertainer coach leasing company in North America. The acquisition brings Encore Luxury’s fleet to more than 145 coaches. Under the deal, Encore’s leasing operations will have offices in Phoenix and Nashville, with over 25 maintenance technicians. Touring clients of the combined companies include Nickelback, Thomas Rhett, Bailey Zimmerman, Lauren Daigle, Ben Harper, Barry Manilow, Beck, Phish and Blink-182.
Virgin Hotels partnered with Sofar Sounds for Hear This!, a new monthly concert series that will showcase emerging Sofar artists. The series will be open to the public, with Virgin Hotels’ Know members receiving premier access to reserve tickets ahead of the public onsale. Attendees of the concerts will also have access to exclusive Spotify and Apple Music playlists featuring highlights and recommendations from Hear This! artists. Members of Virgin’s rewards program, Virgin Red, will also be able to redeem Virgin Points to join Sofar Sounds events at Virgin Hotels, including Hear This! Virgin Hotels will also offer preferred room rates to all Sofar Sounds artists to help alleviate the impact of the pandemic on touring artists. Hear This! kicks off on Sunday (Sept. 10) at Virgin Hotel Dallas, with future iterations in Chicago, Dallas, Nashville, New York City, Edinburgh and the recently opened Glasgow location. Get more details here.
One Media iP acquired the licensor’s income share — or the income that is generated from digital exploitation — of the “Entertain Me” catalog of rights, which includes more than 15,000 tracks performed by artists including Dean Martin, Gloria Gaynor, Judy Garland, Ray Charles and Louis Armstrong. The acquisition was undertaken by One Media’s Harmony IP asset release program, “which allows music rights holders advanced access to the future earnings of their intellectual property by purchasing a portion of their rights up front,” according to a press release.
Also at One Media iP, the company renewed its partnership with music distributor The Orchard; the deal includes a $1 million recoupable advance to One Media “to be used to enhance catalogue enrichment,” according to a press release. The advance is recoupable against future sales by One Media.
The Pennsylvania Convention Center Authority (PCCA) board of directors approved a five-year contract renewal for ASM Global as its venue management company. The new agreement commences on Dec. 1, 2023, and runs through Nov. 30, 2028. ASM Global is “planning to bring many of its most innovative designs to a leading group of convention centers beginning with PCCA,” according to a press release.
Allseated, which offers virtual tour technology and floorplan design tools for venues, raised $20 million in funding, including capital from Level Structured Capital (an affiliate of Level Equity) and existing investors Magma Ventures, Vestech Partners, NYFF and WGG. The money will be used to further scale Allseated’s space visualization and collaboration platform and fuel its global expansion. Along with the new funding, the company is spinning out its Meetaverse division; according to a press release, “this includes a brand-new entity with a dedicated mission: to pioneer immersive experiences, such as virtual events and corporate environments, within an emerging market landscape.”
Full-service artist management company and record label Red Music Rising, which is managed entirely by Indigenous individuals, struck an exclusive global distribution deal with Warner Music Canada/ADA Canada. The Red Music Rising roster includes Wolf Saga, Boogey The Beat, Logan Staats and Nimkish.
Grant Avenue Studio, a legendary recording studio based in Hamilton, Ont., that has hosted artists including Gordon Lightfoot, Johnny Cash, U2 and Sarah McLachlan, was sold to music and film industry executives Mike Bruce and Marco Mondano. Bruce is a musician who owns and operates film studios, including Aeon Bayfront Studios in Hamilton, while Mondano owns D.C. Music, a rehearsal, recording and live production studio in Toronto. Grant Avenue Studio was established in 1976 by Daniel Lanois and his brother Bob, who later teamed up with engineer Amy King to helm the studio until the spring of 2023. Under its new ownership, new offerings at the studio will include an artist lounge, a writers’ studio, film and photography location opportunities and artist development programs.
Deezer expanded its partnership with leading Latin e-commerce platform Mercado Libre, becoming the official music streaming partner for the company’s new retail and entertainment subscription program, Meli+, which has been introduced in Mercado Libre’s main markets, Brazil and Mexico. The program includes a full year of music streaming from Deezer, among other elements. Brazilian artist Ana Castela has been appointed as the official Deezer ambassador on Meli+ and will star in joint campaigns and promotion.
Symphony, an artificial intelligence-powered marketing operating system for artists, creators, managers and independent labels, closed a $1 million pre-seed fundraising round from investors including Spice Capital, GoldHouse Ventures, LVRN Records, Guin Records, former Motown Records CEO Ethiopia Habtermariam and artists including 21 Savage and 24kGoldn. The SymphonyOS platform uses artificial intelligence to analyze millions of data points in order to create music marketing strategies for artists and labels. Since its beta launch in April 2022, SymphonyOS has processed over $750,000 worth of advertising budgets.