acquisition
HarbourView Equity Partners is buying Grammy award-winning rapper-producer T-Pain‘s publishing catalog and certain master recording rights, the company announced on Thursday (Feb. 20). The Tallahassee, Fla.-born artist known for late-2000s party music hits like “Buy U a Drank (Shawty Snappin’),” “Bartender (featuring Akon)” and “I’m N Luv (Wit a Stripper) (featuring Mike Jones),” has been […]
Warner Music Group signed an expanded licensing agreement with Audiomack that covers 47 new countries including the U.K., France, Italy, Germany, the Caribbean, Mexico, Uganda and Zimbabwe. The two companies first struck a licensing deal in 2019.
Exceleration Music acquired Mack Avene Music Group, a collection of independent jazz labels that has released the works of artists including Christian McBride, Cécile McLorin Salvant and Kenny Garrett. Following the acquisition, Mack Avenue’s operations will be integrated with those of jazz label Candid Records, which Exceleration previously acquired, to form Exceleration’s overall jazz group. The group will be led by current Mack Avenue president Denny Stilwell and boast a team featuring other key executives from both Mack Avenue and Candid.
Triller Group scored a $50 million equity funding round from institutional investors, secured through a private placement consisting of common stocks and warrants, with the company’s shares priced at $2.20. The money will be used to unveil new AI tools, enhance the Triller platform’s livestreaming capabilities and revamp its video editing suite. An additional fundraise is expected later this year.
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Musical AI, a rights management platform for generative AI, raised an initial investment of $2.1 million led by Canadian VC firm Build Ventures. Select angel investors also contributed, with a seed round expected to close in the first half of this year. According to the company, its attribution model can determine what percentage of a generated output came from what data source, allowing rightsholders to “monitor, take down and sunset usage” of their works. “If we want AI training to be sustainable and ethical, we need attribution. Musical AI is the only company offering it in the audio space,” said Musical AI CEO Sean Power in a statement. “I’m thrilled that discerning investors are backing our efforts to transform how AI is trained.”
Downtown-owned distributor FUGA announced an expansion in the Asia-Pacific region via several new signings and partnerships across Indonesia, India and the Philippines. In Indonesia, FUGA partnered with Jakarta-based label Maspam Company, whose roster includes Pamungkas and Prince Husein; and label/distributor Sintesa Pro, home to Batas Senja. In India, it partnered with digital and music entities including GK Digital, whose catalog includes artists like Karan Randhawa and Max Singh; and music management platform DroomMusic, home to Gajendra Verma. And in the Philippines, it signed GMA Music and battle-rap artist Pricetagg.
Primary Wave Music expanded its relationship with The Piano Guys, with its Green Hill Productions (a member of the Sun Label Group) acquiring an additional stake in the instrumental group’s master audio catalog. Green Hill also signed a new distribution deal with the group that will see it “playing a more active role in the strategic growth of The Piano Guys’ catalog and new releases,” according to a press release.
Live Nation Urban invested in Breakr, a creator marketing and tech platform that allows record labels, creative agencies, brands and more “to discover, select, pay, and contract with independent online content creators for promoting songs, products, and services,” according to a press release. The investment will be made via a new venture fund formed by Live Nation and Live Nation Urban called the Black Lily Capital Fund, which is focused on providing capital and resources to Black founders of companies operating in or adjacent to the live music industry, with a focus on startups in pre-seed and seed round stages. Along with the investment announcement, Breakr unveiled a new instant pay system called BreakrPay that allows companies to fund campaigns instantly, allowing influencers to be paid in real-time.
Virgin Music Group Nigeria partnered with Ghanian distribution and integrated label services company RainLabs. Under the deal, Virgin will help provide comprehensive support for African artists through digital distribution, marketing, creative production and brand partnerships. RainLabs’ roster includes Joey B, Cina Soul and Baaba J.
Warner Music Group’s ADA distribution and artist services arm partnered with Berlin-based neoclassical label Aemeralds, which specializes in building composers’ brands through social media marketing, composer camps and playlists. Under the agreement, Aemeralds will have the ability to partner with the Warner Classics marketing team for local services and expertise globally.
Under an expanded naming rights partnership between the City of Bakersfield, Calif., and Dignity Health, the downtown complex previously known as Centennial Garden and then Mechanics Bank Arena will now be rebranded as Dignity Health Arena, Theater and Convention Center beginning next month. The complex features a 10,000-capacity arena, 3,000-seat theater and 17,840-square-foot convention center.
Warner Music Group (WMG) announced Tuesday (Feb. 11) that it’s completed its full acquisition of Africori, one of Africa’s leading digital music distribution, rights management and label services companies. Founded in 2009 in Johannesburg, South Africa, Africori touts itself as “one of the biggest independent songbooks in Africa,” including music by Kelvin Momo, Master KG […]
Bell Partners Worldwide has acquired Tennessee-based Christian label Gotee Records’ label operations and Emack Music Publishing arm. The partnership marks the launch of a new division, Bell Partners Christian Music, aimed at expanding the global reach of Christian music artists.
Gotee executives Joey Elwood and Toby McKeehan (tobyMac) will continue in leadership roles at Gotee as well as at Bell Partners Christian Music, with Elwood serving as CEO of the latter.
Producers Todd Collins and Elwood, along with Grammy-winning artist tobyMac, founded Gotee Records in 1992. The label has launched the careers of artists including Christian hip-hop pioneers GRITS, Christian R&B group Out of Eden, Relient K (“Who I Am Hates Who I’ve Been”), Jennifer Knapp, SonicFlood (“I Could Sing of Your Love Forever”) and Jamie Grace. Gotee’s current roster includes Jon Reddick (“God Turn It Around”), Cochren & Co. (“Money Can’t Buy”), Terrian (“In The Arms”), Ryan Stevenson and Joseph O’Brien.
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Bell Partners Worldwide is headquartered in Stockholm, Sweden, with operations across the United States, Europe, Asia and Latin America. The multifaceted music company specializes in rights management, publishing, synchronization, licensing and label services.
“This isn’t an exit strategy — it’s a strategic evolution,” Elwood said in a statement. “After many discussions with Bell Partners, we saw the potential in combining our 30 years of independent label experience with Bell Partners’ global infrastructure. This partnership allows us to elevate Christian music on a worldwide scale, and we’re excited for what’s ahead.”
Hayden Bell, founder/CEO of Bell Partners, added, “We are excited to welcome Gotee Records into the Bell Partners family. Joey and Toby have built an amazing company that has been a cornerstone of the Christian music industry, and I couldn’t wish for better partners as we move forward. This partnership not only strengthens our commitment to nurturing talent but also underscores our dedication to expanding the global influence of Christian music. Together, we will unlock new opportunities for artists, empower their voices, and share their inspirational messages with audiences around the world.”
Soundstripe, the Nashville-based music licensing company for creatives, agencies and brands, acquired tech startup The Rights, which helps streamline the synch licensing process for labels, publishers and music supervisors. According to a press release, the deal will help Soundstripe “accelerate its development of the music industry’s most robust click-to-license platform,” which is slated to launch in the first half of this year.
Warner Music Group’s indie distributor and artist services arm ADA extended its partnership with Sonny Fodera‘s label Solotoko, which has also released music by Dom Dolla, John Summit and Tita Lau, among others.
Nashville-based Walk Off Entertainment inked a global distribution deal with Virgin Music Group. Walk Off Entertainment was founded by Chris Ruediger, who also founded the creative community/promotional outlet The 615 House. The first releases under the new deal are expected in the first quarter of 2025; the company’s client roster includes Gareth and Abby Anderson. – Jessica Nicholson
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Record label LASAL announced a strategic distribution and joint venture partnership with Capitol CMG, marking “a new era in the faith-based music industry and a significant milestone for both companies,” according to a press release. Capitol will act as a partner in signing and developing artists alongside LASAL. “In Spanish, LASAL translates to ‘The Salt,’ which adds flavor and restores balance within the body,” Samuel Ash, founder of LASAL, said in a statement. “That is our purpose: to restore balance in the music industry while allowing artists to freely express their creativity and faith without limits. Capitol CMG shares this vision, and together, we believe we can inspire and impact the world.” – Griselda Flores
Independent distributor IDOL signed global partnerships with two labels: Brooklyn-based Mexican Summer (Cate Le Bon, Hayden Pedigo) and Dom Recs, a new imprint launched by Dan Petruzzi and Roxy Summers that is gearing up for its first album release, Twin Shadow’s Georgie. Both labels will receive global digital distribution, marketing and audience development services under their respective deals.
Tuned Global, a leading cloud platform for the music industry, partnered with AudioShake in a deal that will give Tuned Global clients access to AudioShake’s AI-based tools, including stem separation and lyric transcriptions. AudioShake technology is now available to Tuned Global’s white-label streaming applications and via Tuned Global’s advanced APIs.
Ticketing and live event marketplace Tixr partnered with full-scale event production company Social House Entertainment. Through the pact, Social House will integrate Tixr technology to optimize ticket sales and allow it to better manage merch, VIP experiences and other event services while streamlining the ticketing process. Social House is behind the popular multi-city Tacos and Tequila Festival and other events.
Tickets for Good, which offers affordable event tickets to healthcare workers, teachers, charity staff and others facing economic barriers, expanded into the Netherlands following launches in the U.S. and the U.K. The launch is being supported by Greenhouse Talent, ID&T, Mojo Concerts and This is Live, as well as ambassadors Robbie Williams and MassiveMusic founder Hans Brouwer. Led by Simone van Hövell and Linda Holleman, Tickets For Good Netherlands encompasses more than 30 healthcare institutions, reaching over 150,000 healthcare workers.
Live Nation Urban partnered with Black on the Block, a monthly vendor festival that highlights Black-owned businesses. Through the deal, Black on the Block will expand to seven cities in 2025, kicking off March 23 at Global Life Field in Arlington, Tex. Other new stops made possible by the pact include Houston, Atlanta, Detroit and Charlotte, N.C.
The majority ownership stake in Global Music Rights (GMR) is now in new hands after a deal that valued the boutique performance rights organization at $3.3 billion closed just before Christmas, sources tell Billboard. According to those sources, Hellman & Friedman, a San Francisco-based private equity firm, bought out Texas Pacific Group’s stake in GMR, as well as a slice of the minority equity stake held by the Azoff Company.
In the wake of the deal, sources say that Hellman & Friedman now owns nearly 90% of GMR, which was founded by Irving Azoff and Randy Grimmett in 2013. Moving forward, the Azoff Company and Grimmett — who also serves as CEO — will retain control of GMR’s operations, which is considered an essential ingredient to GMR’s continued success, given the affiliation with Azoff and his portfolio of companies that employ powerful industry executives.
Hellman & Friedman has not previously invested in music assets, but it was drawn to the stability and reliability inherent to the business of collecting music royalties. Those traits have made performance rights organizations ripe targets for private equity funds interested in investing in music. BMI was acquired by New Mountain Capital in early 2024, and SESAC is said to be fielding acquisition offers from interested parties.
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When Billboard first reported on the GMR deal in September, a source familiar with the matter said that the switch in majority ownership would not change anything “for the writers or the GMR management team. GMR’s goal will remain the same: to transform the industry and bring more value to songwriters and their publishers.”
GMR is one of four U.S. performance rights organizations, with the others being ASCAP, BMI and SESAC. While ASCAP and BMI operate under U.S. Department of Justice consent decrees and must accept any songwriter who applies as a member, SESAC and GMR are invitation-only societies. SESAC pioneered that strategy, although in the last five years, it has been quietly pruning its membership from 35,000 members in 2019 to 15,000 currently.
GMR is even more exclusive, with a membership roster that numbers between 150 and 200 songwriters or songwriter estates, all of whom are considered to have star status as a writer or artist. That roster includes the likes of Bad Bunny, Billie Eilish, Billy Idol, Bob Seger, Bob Scaggs, Bruce Springsteen, Bruno Mars, Bryan Adams, Drake, Eddie Vedder, George Harrison, George Michael, Glenn Frey, Gwen Stefani, Harry Styles, Ira Gershwin, James Hetfield, John Lennon, Jon Bon Jovi, Lizzo, Nicki Minaj, Pete Townshend, Philip Lawrence, Post Malone, Prince, Ryan Tedder, Shane McAnally, Shawn Mendes, Slash, Smokey Robinson, Stephen Stills, Steve Miller, The Weeknd, Travis Scott and YoungBoy Never Broke Again, among others.
Even with a limited roster, GMR has grown into a powerhouse in the U.S., with estimated revenue of about $400 million to $450 million, sources say, with some suggesting that its net publisher share (NPS) — what the company retains after royalties are paid out — approaching 50% of the revenue estimate. Given that, if GMR had $200 million in NPS, that $3.3 billion valuation translates into a 16.5 times multiple.
Building a company from scratch into one that can command a $3.3 billion valuation in 10 years is a big accomplishment, several people say. Moreover, that valuation appears to have ignited a process that could see SESAC come up for sale, which Billboard reported last week (Dec. 24). As one music asset investor told Billboard, many private equity firms looked at GMR and were “all shocked by the final valuation … Those firms have a real appetite for music because music assets are doing well.”
Hellman & Friedman specializes in traditional buyouts in the technology and financial services sectors. Among media and entertainment companies, it previously invested in the German media company Axel Springer and Getty Images, although it has since sold its stakes in both companies.
Representatives for GMR, the Azoff Company and Hellman & Friedman did not respond immediately to requests for comment.
The founders of indie label group [PIAS] have announced they are selling the remaining shares they hold in the company to Universal Music Group (UMG), making the music giant the firm’s majority shareholder.
In an announcement on Tuesday (Oct. 15), Kenny Gates said he and his [PIAS] co-founder Michel Lambot were selling their shares to UMG, which acquired a 49% stake in the company in 2022, to “allow us to offer a truly global distribution and services platform to the independent music community.”
Financial terms were not revealed for the deal, which expands upon a strategic global partnership between the two companies that began in 2021. When UMG acquired the 49% stake in [PIAS] for an undisclosed sum the following year, Gates and Lambot retained majority control of the company.
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Ownership of [PIAS] now appears to be fully in the hands of UMG, although representatives of the European indie label group and UMG declined to expand upon the information contained in Tuesday’s press release.
Details that have been confirmed as part of the new arrangement include the merger of Virgin Music Group and [PIAS]’s services division [Integral], which provides physical and digital distribution services to more than 100 indie label partners including ATO, Beggars Group and Secretly Group.
The newly combined teams will provide “independent entrepreneurs with world class services and access to a bespoke, stand-alone international distribution network,” said [PIAS]. Reps for the firm and UMG declined to comment when asked if the merger would result in any job losses.
The [PIAS] Label Group, which includes the indie labels Play It Again Sam, harmonia mundi, Spinefarm, Source and partner imprints such as ATO, Heavenly, Mute and Transgressive, will remain completely autonomous, said the company. Artists signed to or distributed by those labels include Nick Cave & The Bad Seeds, Kneecap, Sofiane Pamart, Sleep Token, Arlo Parks and Black Pumas.
“I am selling my shares not my soul,” said Gates, who will remain CEO of [PIAS] and sit on the Virgin Music Group main board and advisory group, in a statement.
“Since agreeing [to] a strategic alliance with UMG in 2021 we have found them to be supportive and engaged partners who have added real value to our offering,” continued Gates, describing the decision to relinquish the founders’ remaining shareholdings in [PIAS] as a “pragmatic one.”
The company’s existing leadership team will continue to steer day-to-day operations “and nothing will change culturally or commercially for our existing clients and partners,” said Gates, who co-founded [PIAS] with Lambot in Brussels, Belgium, in 1983.
Lambot said that despite initially having “some concerns” about partnering with UMG in 2021, the experience has surpassed his expectations.
“Our relationship to date has been fruitful, convivial and everything we hoped it would it be,” he said. “This new phase, which will see us working even closer together promises to be an exciting new era for [PIAS], our staff, our partners and the artists we represent.”
“I’ve known Kenny and Michel for decades, beginning in the 80s when we were all signing bands from emerging scenes in Europe,” added Lucian Grainge, chairman/CEO of UMG, in a statement.
“Since that time, Kenny and Michel have built [PIAS] into a company that stands for authenticity and the best in independent music,” Grainge added. “And it is those qualities that are not only important to me personally but that also make [PIAS] a perfect fit for UMG’s entrepreneurial and creative culture.”
“We are delighted by all that’s been accomplished over the past three years together, and we look forward to working with Kenny and Michel and their entire team, including their family of artists and labels, to further build [PIAS]’s legacy,” said UMG executive vp/CFO/president of operations Boyd Muir. “Their experience and insights have significantly helped to grow this dynamic area of our business. Completing the acquisition of [PIAS] Label Group and [Integral] reinforces our best-in-class label services operations and enhances our ability to support the independent artist and label community globally.”
Primary Wave Music has acquired the producer royalty and neighboring rights royalty streams for artist manager, music critic, and record producer Jon Landau.
This deal includes Landau’s points and neighboring rights royalties to songs by Bruce Springsteen, whom he worked with as a co-producer for Born To Run, The River, Darkness on the Edge of Town, The Promise, Born in the U.S.A., Live 1975-1985, Human Touch, Lucky Town and Tracks. The deal also entails his producer and neighboring rights royalties for his production on Jackson Browne’s The Pretender.
A Rock & Roll Hall of Fame inductee, Landau was a pivotal figure in rock music during his decades-long career. Landau got his start writing about music for publications like Crawdaddy and The Boston Phoenix and by 1967 he was hired by Jann Wenner as the lead writer for the brand new Rolling Stone publication, a position he held for a decade.
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By 1970, Landau was simultaneously writing for Rolling Stone and getting back to his roots as a lifelong musician by producing MC5’s studio album debut Back In The USA.
He got to know Springsteen in 1974 after he reviewed a performance by the singer-songwriter and called him the “future” of rock music. The following year, he co-produced Born To Run, cementing both his relationship with The Boss and his career as a producer. He would go on to co-produce eight more of his records. During this time, he also befriended Browne and produced 1976’s The Pretender, featuring songs like “Here Come Those Tears Again” and the title track.
Two decades later, Landau experienced another career peak as the manager for Shania Twain. He helped build the country-pop artist’s career, leading her to true super stardom with her 1997 album Come On Over, featuring the song “Man! I Feel Like a Woman!” and “You’re Still The One.”
Landau has also worked with artists like Natalie Merchant, Train, Alejandro Escovedo, Livingston Taylor and more.
“I thank all at Primary Wave for recognizing my contributions over the last fifty years and look forward to having an ongoing and productive relationship with them,” says Landau of the deal.
Marty Silverstone, president of global synch at Primary Wave, adds: “We’re honored to be partnering with Jon Landau and all of the legendary music he helped shape. He’s an influential figure in music, and we’re proud to welcome him to the Primary Wave family.”
The transaction between Landau and Primary Wave Music was facilitated by David Simone and Winston Simone.
The consortium acquiring French music company Believe increased its holdings to 94.99% of share equity at the conclusion of the tender offer, the company announced Monday (June 25). That marks a nearly 10% increase from the 85.04% of shares the consortium held a week earlier.
Led by CEO Denis Ladegaillerie, who founded Believe in 2005 to take advantage of the rapidly evolving digital music business, the consortium purchased 19.6 million shares at 15.00 euros ($16.10) per share during the offer, which ran from June 3 to June 21. Combined with blocks of shares previously acquired from investors, the consortium now holds 95.6 million of the 100.7 million shares outstanding. The free float — shares owned by minority investors — is 5.01%. The consortium, which also includes major shareholders EQT and TCV, commands 106.5 million of 113 million — 94.29% — of Believe’s voting rights.
While the consortium does not plan on executing a mandatory squeeze-out for shares not tendered by minority shareholders, because the free float — shares not held by insiders that can be publicly traded — has fallen under 15%, Believe will be de-listed from some stock indexes.
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Also on Monday, Believe announced the appointment of Andrew Fisher, a new director representing EQT, after venture capital firm Ventech sold its shares to the consortium and lost a director. Fisher’s ratification will go to a vote in the 2024 annual general meeting. The board additionally appointed two observers: Michael Kalfayan, general partner at TCV, and Nicolas Brugère, partner at EQT.
The consortium announced a takeover bid for Believe in February at 15.00 euros ($16.10), which represented a 21% premium over the prior closing price. According to an offer document, the consortium wants to take over the company “so that it can better execute on its value-creation plan and accelerate the scale-up of an independent player supporting artists and label clients” and “further grow and consolidate its position as a leader in the French and European markets.”
After the Believe board of directors backed the takeover bid on April 19, the consortium purchased a large block of shares from venture capital firms XAnge and Ventech. Before the acquisitions, TCV was the biggest shareholder with 41.1% of share capital, while Ladegaillerie owned 12.5%, private equity firm Ventech owned 12.0%, XAnge owned 6.3% and roughly 3.8% of shares were held by a strategic holding fund and in treasury shares. Free float was 24.4%.
Warner Music Group briefly looked at acquiring Believe in March and estimated a bid of “at least” 17 euros ($18.24) per share, which would have valued the company at 1.65 billion euros ($1.8 billion). But the pursuit was short-lived; Warner dropped out of the running in April.
Global investment firm KKR has agreed to acquire the European festivals organizer Superstruct Entertainment from Providence Equity Partners, it was announced on Friday (June 21). Superstruct — which organizes Sziget, the Budapest music festival that’s one of Europe’s largest, and Wacken Open Air, the world’s largest heavy metal festival held in Germany — was founded […]