acquisition
Etsy has agreed to sell Reverb, an online marketplace for musical instruments and equipment, to Creator Partners, an investment firm founded by a former SoundCloud CEO, and Fender-owner Servco, the companies said on Tuesday.
Terms of the deal were not disclosed. Bought by Etsy in 2019 for $275 million, Reverb is used by fans to purchase collectibles like the recording console used to track the Beatles’ Abbey Road and Travis Barker’s drums, as well as regular guitars, pedals, keyboards and other music-related products.
The deal, which is expected to close in the coming weeks, will see U.S.-based music gear selling site return to its roots as an independently operated company backed by Creator Partners and Servco.
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Creator Partners is the investment company of former SoundCloud CEO Kerry Trainor, and it stakes in BMI, Colors+Studios, Mogul, as well as SoundCloud. Servco is the majority owner of guitar company Fender, which Creator Partners is also invested in. Reverb previously raised $25 million from a group of investors led by Summit Partners.
The deal for Reverb comes at a time when the threat of global tariffs has sparked fears of rising prices for music product imports, merchandise and other goods. In a blog post announcing the new ownership, Reverb CEO David Mandelbrot said the company plans to roll out a new option for sellers “that allows you to get paid faster and drop off your gear locally, without needing to create a listing or ship.” Reverb has other plans to expand its offerings of music-making software and to improve search, ship and help services on the website.
“Over the past five years, we’ve learned a lot from Etsy as we’ve expanded our community,” Mandelbrot wrote in the blog post. “As we look ahead, with a focus on growing the entire industry by helping more people buy and sell used music gear, we’re excited to align ourselves with two new partners who share our passion and focus.”
According to Mandlebrot, buyers and sellers using the website should not notice any disruption as the companies work toward closing this deal in the coming weeks, and Creator and Servco sought to assure Reverb users that Fender will not get preferential treatment on Reverb. Reverb’s partnership with Fender will stay the same, including Fender’s certified pre-owned program, which is one of 20 such offerings available on Reverb, the companies said.
Creator Partners’ Trainor said they are keen to invest in Reverb and its goal of growing “the entire industry through seamless secondhand commerce.”
Mark Fukunaga, executive chair of Servco, said his company has been invested in musical instruments and education for over 90 years. “We remain committed to being good stewards of leading musical instrument companies, like Reverb, and supporting players everywhere in pursuing their passion to create music.”
BEAT Music Fund, the dance music investment company from Armada Music Group, acquired the rights to “a large portion” of masters from DJ, producer and Turbo Recordings founder Tiga. The deal includes Tiga’s “Sunglasses at Night,” “Bugatti,” “You Gonna Want Me,” “Let’s Go Dancing” and “HAL” featuring Kölsch. BEAT previously signed catalog deals with Kevin Saunderson, Markus Schulz, Robbie Rivera, Jax Jones, Amba Shepherd, VIVa MUSiC, Sola Records, King Street Sounds, Chocolate Puma and others.
Hook, the AI-powered platform that allows users to legally remix songs by top artists while earning income from those remixes, closed an additional $3 million in funding, bringing the startup’s total funding to $6 million. This round includes new investments from Khosla Ventures, Kygo‘s Palm Tree Crew, and The Raine Group. Continued support came from existing investors including Imaginary Ventures, Steve Cohen‘s Point72 Ventures, KSHMR and Edgar Bronfman, Jr.‘s Waverley Capital. The investment will help accelerate Hook’s marketing efforts and hiring, with a focus on user acquisition.
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Japanese record label Teichiku Entertainment signed a distribution partnership with Believe for Japan and the rest of the world. Through the deal, the companies aim to expand Teichiku’s digital footprint by leveraging Believe’s global DSP network, technology and digital-first expertise to bring Japanese enka, kayōkyoku and pop music to a wider audience globally.
Indian record label and music publisher Times Music acquired Indian regional record labels Symphony Recording Co. and ARC Musicq. These are Times Music’s first acquisitions since Primary Wave Music invested in the company to speed up its growth worldwide. Symphony, described in a press release as “the undisputed leader of Tamil spiritual and devotional music,” has a catalog of more than 350 audio and 100 video albums and boasts YouTube views of nearly 2 billion, with revenue on the platform doubling in the past four years, according to the release. ARC Musicq, which has been distributed by Times Music since 2017, is a label specializing in Indian folk music and film soundtracks within the Kannada music market. ARC also boasts more than 2 billion views on YouTube, with revenue quadrupling in the last three years, according to the release.
Independent U.S.-based K-pop label hello82 struck a partnership with One Hundred Label, the Korean entertainment company behind THE BOYZ. Under the deal, hello82 is serving as the exclusive physical distributor for the group’s album Unexpected, which was released on March 17. To support the release, hello82 is erecting immersive fan experiences at its brick and mortar fan spaces in Los Angeles and Atlanta, and at pop-up shops in major markets including New York, Chicago and San Diego throughout March. Hello82 previously signed similar deals with KQ Entertainment (ATEEZ, hikers) and FNC Entertainment (P1Harmony).
Ninja Tune struck a licensing partnership with Reactional Music, the music personalization platform allowing real-time interactive music integration in gaming, automotive and digital environments. With the deal, Ninja Tune’s labels and publishing division, Just Isn’t Music, have licensed the rights to tracks from its catalog for use in Reactional’s music personalization engine and music delivery platform. Ninja Tune’s labels include Brainfeeder, Counter Records, Technicolor, Big Dada and Foreign Family Collective, which have collectively released music by Thundercat, Bonobo, Little Dragon, Run the Jewels, ODESZA, Peggy Gou and others. Reactional’s platform is now live on Unity and Unreal Engine. It is being used by developers and creators in Europe, the United States, China and Southeast Asia.
ADA, the independent music distribution and artist services arm of Warner Music Group (WMG), acquired music tech startup RSDL.io, which provides automated accounting and a simplified view of multiple revenue streams for artists and labels. Founded by tech executives Mike Holmes, Jim Sella and Bill Sella and music industry players Alex Brahl (S7 Management) and songwriter-producer Shep Goodman, RSDL.io lets users facilitate payments and manage splits and recoupments and “allows for multi-level artist and contributor payout functionality and insights,” according to a press release.
EMPIRE struck a multi-year partnership with sound separation and lyric transcription technology company AudioShake under which the San Francisco-based label will use AudioShake’s stem and lyric separation technologies to create stems and lyrics for its catalog. EMPIRE will use AudioShake’s AI to produce stems for use in synch licensing, immersive formats and new music licensing models.
Musical AI, the AI rights management platform for music and audio, is partnering with Nashville-based artist-model platform and VST plugin First Rule to build fully-licensed AI agents and models designed to support music makers. Through the deal, Musical AI will provide licensed training data to First Rule, which will use the data to train musical agents and models aimed at assisting artists and producers. Musical AI will also provide attribution technology and payment processing “to ensure First Rule can prioritize rightsholder consent, credit, and compensation,” according to a press release. Using this data, First Rule will train its proprietary models to ensure they are able to produce high-quality results. This will allow artists and producers to train their own “Musical Essence or M.E Models on their distinctive style and approach,” then license those models to others to use in First Rule’s Co-Writer, a generative AI-powered VST plugin the company is currently building that will work in any digital audio workstation.
Sony Music Entertainment India and Tiger Baby — the Indian production company formed by filmmakers Zoya Akhtar and Reema Kagti — formed Tiger Baby Records, a joint-venture music label dedicated to fostering emerging talent. For one of its first projects, the new label has partnered with jewelry brand Tanishq for a wedding song composed by Abhishek-Ananya and performed by Poorvi Koutish. It also recently released the soundtrack for Superboys of Malegaon, a film based on the life of filmmaker Nasir Shaikh, that was composed by Sachin-Jigar and written by Javed Akhtar. Tiger Baby Records will additionally release original music curated by Ankur Tewari that will spotlight emerging artists and launch a “City Sessions” initiative with Mumbai’s Island City Studios in which singer-songwriters will be offered the opportunity to refine their craft, collaborate with established artists and more.
Universal Music Group (UMG) and HEAT — a new marketplace connecting animators, game developers and 3D artists with a trove of motion data and music — formed a collaborative initiative involving Lil Wayne and CG5 that will make licensed tracks from both artists available to game developers for the first time. Beginning May 1, Lil’ Wayne tracks “Uproar” and “GO DJ” and CG5 tracks “I See A Dreamer,” “Sleep Well,” “Let Me In” and “Dancin’” will be available through the HEAT platform, allowing game creators to integrate those tracks into their projects.
Secretly Distribution struck a global distribution deal with Invada Records, a U.K.-based independent label co-owned by musician, producer and composer Geoff Barrow (Portishead, BEAK >) and his longtime business partner Redg Weeks. Invada has released music by artists including DROKK, The KVB, Jeremy Gara (Arcade Fire), BEAK >, Divide And Dissolve, Anika, Billy Nomates, Gazelle Twin, Colin Stetson, Sleafords Mods, TVAM, Benefits and Julian Cope. It has additionally released scores for films, TV shows and video games including Stranger Things, Drive, Ex Machina, Solaris, Red Dead Redemption 2, Hannibal, Dark, Annihilation and Black Mirror.
Sweet Relief Musicians Fund and Sweetwater launched The Hearing Health Fund at Sweet Relief Musicians Fund, which will provide support for the growing number of music professionals who face hearing-related challenges, including hearing loss and tinnitus. According to research cited in a press release, seven in 10 music venue staff are exposed to noise levels above the daily recommended limit, while only 15% reported using hearing protection on a regular basis. Through the fund, professionals can receive a free, three-part hearing screening with a certified audiologist and free Etymotic Research ER-20XS High Fidelity Earplugs. Music pros can navigate here to apply for the Hearing Health Fund.
Music technology company Audoo partnered with German performing rights society GEMA on GEMA’s music impact study, which aimed to quantify the commercial value of background music in gastronomy and retail spaces. The study used Audoo’s audio meters — or music recognition hardware — that the company had installed in hundreds of venues. Overall, it found that the use of background music increased retail sales by an average of 8% and gastronomic sales by an average of 5.4%. More information on the research can be found here.
Rhino Staging, which provides stagecraft and rigging crews across the U.S., acquired ROC Rigging, a provider of special event rigging services for entertainment, corporate and private events in the Palm Springs, Calif., area. Matt Talley, the founder/CEO of ROC Rigging, along with the company’s management team, will remain in place as the company integrates with Rhino.
UnitedMasters partnered with The Coca-Cola Company for an event to be held this month in São Paulo celebrating Brazil’s independent music scene. The two companies have also selected independent artist Alee to perform at Coke Studio at Lollapalooza Brasil, in addition to Zudizilla, who will perform on the main stage.
The digital media and ecommerce company Infinite Reality announced that it acquired the streamer Napster for $207 million on Tuesday (March 25). This marks the third time Napster has changed hands in the last five years.
“With Infinite Reality’s expertise in immersive 3D technology, we will transform Napster into a next-generation platform where fans don’t just listen on their own — they experience music in entirely new ways,” Napster CEO Jon Vlassopulos said in a statement. “This isn’t just a new chapter for Napster, it’s the beginning of a more interactive and social music experience for the next era of the internet.”
Working with Napster, Infinite Reality aims to provide artists with the tools to create 3D virtual spaces and sell physical and virtual merchandise. “Imagine stepping into a virtual venue to watch an exclusive show with friends,” said Vlassopulos, or to “chat with your favorite artist in their own virtual hangout as they drop their new single.” Vlassopulos previously served as head of music at Roblox, which has offered similar experiences to artists and labels.
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Infinite Reality has been expanding rapidly in recent years, reporting that it spent around $800 million on acquisitions in 2024 alone. The company’s goal is “lead an internet industry shift from a flat 2D clickable web to a 3D conversational one,” according to Infinite Reality CEO John Acunto.
The spending spree has continued this year. In January, Infinite Reality announced that it had raised $3 billion. A few weeks later, it acquired the company Obsess, which has worked on 3D digital stores and experiences for brands like Ralph Lauren, Crate & Barrel, and J.Crew. Napster is Infinite Reality’s latest target.
Napster famously launched in 1999 as a file-sharing service that allowed users to download tracks for free. It later became a licensed streaming service, albeit a small one: It had a little more than 1 million monthly active users at the end of 2020, according to Music Ally.
That year, the virtual reality concert app MelodyVR bought Napster for $70 million. Hivemind Capital Partners and cryptocurrency company Algorand became the streamer’s new owners in 2022.
In an interview after that acquisition, Vlassopulos said he hoped Napster could foster “much more of [a] community experience” and not just be “a transactional consumption vehicle.”
Infinite Reality’s Acunto echoed that rhetoric this week. “I firmly believe that the artist-fan relationship is evolving,” he said in a statement. “Fans [are] craving hyper-personalized, intimate access to their favorite artists, while artists are searching for innovative ways to deepen connections with fans, and access new streams of revenue.”
Private equity firm Silver Lake has completed its acquisition of 100% of the stock of sports and entertainment giant Endeavor to take the company private in a deal that values it at $25 billion, the firm announced on Monday (March 24).
As part of the deal, Endeavor stockholders will receive $27.50 in cash per share, which represents a 55% premium to the company’s closing price of $17.72 on Oct. 25, 2023 — the day before Endeavor announced Silver Lake’s plans to take the company private.
Endeavor, which owns the talent agency WME, marketing agency 160over90, brand licensing agency IMG Licensing and more, will be renamed WME Group. Endeavor is the largest company in the media and entertainment sector ever to be taken private by a private equity sponsor, Silver Lake said in a press release.
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Silver Lake co-CEO Egon Durban said his firm has never sold a share in Endeavor since its first investment in the company in 2012, and over that time, Endeavor’s “revenue has grown by twentyfold.”
“Silver Lake has previously invested on six separate occasions to support Endeavor and now, with this latest investment, it is the single largest position in our global portfolio,” Durban added.
Endeavor founder and former CEO Ari Emmanuel will move into the role of executive chairman of WME Group. On Monday, Emmanuel cashed out a portion of his ownership stake in the company for $173.8 million, per a regulatory filing first reported by Variety. Patrick Whitesell, who was previously executive chairman of Endeavor/WME received a $100 million payout, Variety reported.
Following the deal Endeavor will hold on to its majority stake in TKO Group Holdings, a separately traded sports and entertainment company whose assets include wrestling promotor WWE and Ultimate Fighting Championship. The valuation of $25 billion includes TKO’s assets.
In addition to WME, 160over90 and IMG, Endeavor’s portfolio includes Pantheon Media Group, live event hospitality firm On Location and sports betting data firm OpenBet.
Led by co-CEOs Durban and Greg Mondre, Silver Lake has $104 billion in combined assets under management, and its portfolio includes stakes in companies including Oak View Group, Fanatics, TEG, Waymo, Stripe, Plaid, SoFi and Madison Square Garden Sports.
Concord is an advanced talks to acquire music distributor Stem, according to multiple sources close to the talks.
Los Angeles-based Stem is a 10-year-old digital distributor that gives independent artists ownership of their works and retains a distribution fee. Nashville-based Concord has vast music publishing and recorded music catalogs that include the compositions of Rodgers & Hammerstein, classical music publishing company Boosey & Hawkes, and the catalog of Round Hill Music, which it purchased in 2023 for $469 million.
Financial terms are unknown, but a report at Music Business Worldwide claims the deal could reach $50 million. The Hollywood Reporter cites sources as saying that figure “is wildly inaccurate” and that negotiations could result in a partial sale.
Stem would help Concord in its ambition to develop its frontline business. While Concord’s annual revenue is split roughly 50-50 between its publishing and recorded music divisions, it has notched more publishing hits, such as Miley Cyrus’ “Flowers,” which Concord owns a piece of through Tyler Johnson’s co-writing credit. In September, Concord merged its Concord Records and Fantasy Records into a single label, naming Margi Cheske and Mark Williams as co-presidents.
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Concord’s frontline record label business includes Rounder Records, Concord Jazz, Fearless Records, Concord Theatrical Recordings and the Kidz Bop franchise. Concord also has joint ventures in Loma Vista Recordings with Tom Whalley; Easy Eye Sound with Dan Auerbach; and PULSE Records with PULSE Music Group. Launched in 2023, PULSE Records saw major success with Tommy Richman’s 2024 hit “Million Dollar Baby.” Billboard estimates the song generated $4.99 million from on-demand audio streams and digital song sales, based on Luminate data.
Stem, which raised $40 million in three fundraising rounds from 2017 to 2022, has been looking for a strategic investor since at least last year to give it access to more funding for artist advances after losing a series of stars to major labels. Competition for artists seeking distribution deals had picked up enough that Stem “lost numerous deals historically as it wasn’t able to be competitive with advances,” according to a Stem pitch deck Billboard obtained in 2024.
In 2023, Stem secured a $250 million credit facility from Victory Park Capital to expand its advance check product, which has funded projects by Brent Faiyaz and Justine Skye. That line of credit was “restrictive,” a source with knowledge of the company tells Billboard, because it was doled out on a deal-by-deal basis, requiring each artist’s project to recoup its own advance. Lewis says a better option is to borrow against the whole company’s balance sheet so that if one artist’s project flops, the loan can be repaid by a successful one.
“Music is a hit-driven business, and you need to have capital that understands that and is willing to allow you to take the risk across multiple projects, knowing that the overall portfolio will perform,” this person says.
It was for that reason that Stem was looking for equity investors rather than debt. Outside investors, many from the venture capital world, already own a majority of Stem’s equity. Stem’s decision to provide artists with advances came at a time when interest rates were lower than they are today, and one industry source speculates that rising interest rates were a pressing matter for Stem. Concord would likely be able to provide Stem with a lower cost of capital, this source tells Billboard. Concord has raised more than $3 billion from three asset-backed securities led by Apollo Global Management.
Warner Music Group (WMG) has also been in the market for a distribution company, having passed on an opportunity to acquire TuneCore owner Believe in 2024. But speaking at a Morgan Stanley conference on Monday (March 11), WMG CEO Robert Kyncl suggested the company could build rather than buy a distributor at the going rates. “I’ve looked at all distribution companies over the last 18 months … and what I can tell you is that we’re not willing to grow this at all costs,” Kyncl said.
Next Century Spirits (NCS) has acquired country superstar Kenny Chesney‘s signature Blue Chair Bay Rum, expanding the liquor company’s presence into the premium rum category.
Blue Chair Bay Rum, created and built by Chesney, has sold more than 1 million cases since its 2013 inception, according to a press release. As part of the deal, Chesney will remain “one of NCS’s largest percentage owners” in the brand and continue to play an integral role. A purchase price was not disclosed.
“Blue Chair Bay Rum was created to capture my life, as a spirit to share with friends,” Chesney said in the statement. “This rum is the result of a lot of fun, passion, sunshine, good people and No Shoes Nation energy. Next Century Spirits embraces those same qualities. They have a passion for innovation and going to new places. This is going to be cool.”
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Chesney launched Blue Chair Bay Rum 12 years ago, serving as the sole owner and chief creative officer, according to the brand’s website. The brand’s name was inspired by Chesney’s 2004 song “Old Blue Chair,” which centers on Chesney’s affinity for island life.
Over the years, the rum has expanded into numerous flavors, including coconut, banana, vanilla, key lime rum cream, banana rum cream and coconut spiced rum cream.
North Carolina-headquartered Next Century Spirits’ portfolio also includes Nue Vodka, Numbskull (a cool mint and chocolate-flavored whiskey), Bear Fight Whiskey, Creek Water American Whiskey, Caddy Clubhouse Cocktails, Calamity Gin and Henderson Whiskey. The company was named North Carolina distillery of the year by the New York International Spirits Competition in 2023.
“Blue Chair Bay Rum has endless potential, and we’re excited to bring it into the NCS family,” said Anthony Moniello, co-CEO of Next Century Spirits, in a statement. “Kenny created something special – a great tasting rum with a rich story. At NCS, we’re building a team of fast-moving entrepreneurs and a portfolio of bold, unique brands for the next generation of spirits drinkers. Adding Kenny and Blue Chair Bay to our vision is another incredible step forward.” “Blue Chair Bay Rum strengthens our vision and marks another step in accelerating our growth as we work to shape the spirits of tomorrow,” added Rob Mason, co-CEO of Next Century Spirits.
The acquisition news comes as Chesney prepares to become the first country artist with a Las Vegas residency at Sphere, where he begins a 15-show run on May 22.
Rimas Entertainment, home to Bad Bunny and the No. 1 label on Billboard‘s 2024 year-end Top Independent Labels chart, has acquired a “significant” stake in Dale Play Records, the maverick Argentine label that’s home to DJ Bizarrap, Rels B and rapper Duki, Billboard can reveal.
The partnership includes Sony Music Latin Iberia, which continues to own a stake in the label. Helping bring the deal to fruition were Rob Stringer, Sony Music Group chairman and Sony Music Entertainment CEO; Afo Verde, chairman/CEO of Sony Music Latin America, Spain and Portugal; and Brad Navin and Jason Pascal of The Orchard.
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Fede Lauria, the Argentine executive who founded Dale Play out of Argentina and grew the label to its current stature, will retain a smaller percentage of the company and continue as CEO. The Orchard will also continue to distribute Dale Play as it has for years. The company’s other business verticals, which include booking and management — including the management of Duki, Nicki Nicole and Bizarrap — are not part of the deal and will remain solely under Lauria.
The partnership brings together two indie companies that have redefined the way Latin music is made and promoted on a global scale, with both developing and capitalizing on a new wave of urban music in Spanish — one centered in Puerto Rico (Rimas) and the other in Argentina (Dale Play) — with international ambitions. Rimas has already expanded its roster beyond Puerto Rico, signing Spain’s Quevedo and Mexico’s Latin Mafia.
“From day one, our mission has been to support and develop artists with authenticity and respect for their identity,” said Rimas Entertainment CEO Noah Assad in a statement. “With Federico and Dale Play, we’ve built a relationship founded on trust and mutual admiration. This alliance will allow us to break new boundaries and create opportunities for our artists and teams.”
In an earlier conversation with Billboard, Assad noted that this is Rimas’ first major acquisition and that it follows a longstanding friendship and years of business dealings between him and Lauria.
“We’re working hand in hand and all we’re doing is adding more value to each other, him to me and me to him,” he said. “The collaboration already existed. We’re formalizing something that was already happening.”
Lauria was already an established concert promoter in Argentina with the company Dale Play (which currently sells over 1 million tickets per year, mostly in Argentina) when he created the label portion of his business, Dale Play Records, in 2017, focusing on a previously untapped rap and trap music scene bubbling out of Argentina. Sony Music came in as a partner in 2020.
“Afo and I have had a long-standing friendship for many years, united by a mission to elevate Latin music to the highest level,” said Lauria in a statement. The new partnership with Rimas, he told Billboard earlier, “reflects a journey we have been on for many years with Noah, Jomy and the RIMAS team. We share the same vision and values. Our companies are 360 companies with similar philosophies and origins. They’re rare in the global market. We do management, booking, label, publishing. The potential that these two ecosystems have together and the mutual collaboration that our artists and businesses can have is huge.”
Fede Lauria, Noah Assad and Afo Verde.
Afo Verde/Sony Music Latin Iberia
Added Verde in a statement: “I have great admiration for the achievements of both Fede and Noah. They epitomize the new generation of executives and label leaders, characterized by their independent spirit and innovative approach. It is a privilege to continue our partnership with them, and I love that they wanted to work together.”
Assad and Lauria’s working relationship dates back to Bad Bunny’s early days as an artist playing small venues in Buenos Aires, which Lauria booked. Today, he still promotes Bunny’s Argentina stadium and arena dates. The two have since worked together on multiple artist collaborations and started discussing a possible partnership three years ago, with conversations solidifying last year.
“This alliance is key to expanding our global reach and connecting with talent wherever it may be,” said Jonathan “Jomy” Miranda, president of Rimas Entertainment, in a statement. “We have always been at the forefront of discovering new artists, and now, through this partnership, we will have ears in more corners of the world to support and develop the next generation of stars.”
“Rimas is still Rimas and Dale Play is still Dale Play,” said Lauria during his conversation with Billboard, when asked about the future management of the respective labels. But, he adds, both labels have been “an essential part of the development of a cultural movement, and we’re in the process of shaping artists in Spain and Mexico that aren’t Argentine or Puerto Rican. Being together gives us huge power.”
Everything aligned to make the partnership come together now, said Assad. “We want a partner that has a clear vision, knows what they want and knows their destination,” he adds. “Culturally speaking, we share a lot of the same culture, and that’s why we’re doing this strategic alliance.”
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 […]