Headquarters in Los Angeles GoDigital Media Group has an interesting strategy underpinning its entertainment business.
The company owns both content (mostly through the music distribution/acquisition rights company Cinq Music) plus its own digital network/promotion channels, which – where appropriate – could license Cinq’s repertoire and help expand its global audience.
Assets owned by GoDigital include Mitú (the entertainment/lifestyle network for ‘LatinX’ audiences in the US), Yoga Works (hosts online classes set to music, a la Peloton), Music Latido (a music television network for Latin Music fans), and VidaPrimo (claims to be the largest Hispanic-targeted omnichannel network in the world) YouTube for Latin music).
GoDigital CEO Jason Peterson yes previously explained to MBW believes that the key point of his company’s strategy is the principle of “Intellectual Property Rights and [consumer] demand creation function” both sit under one umbrella.
It all helps to explain why Music group Cinq very important in GoDigital’s plans and why GoDigital has invested heavily in Cinq since the company was founded in 2012.
Today (April 19), GoDigital confirmed that it is investing its largest funding round in Cinq – 100 million USD – for Cinq to “buy the music rights, both copyright and publication, and to expand further internationally”.
In a press release, GoDigital confirmed that their music catalog is supported by Bank of America as the main lender, with east West and Union Bank fulfill the contract.
Additional details of the $100 million Series D funding round were not disclosed.
GoDigital’s $100 million investment in Cinq Music comes after previous investments in the music company, including a cash deposit of 20 million dollars in 2017, and a $40 million funding round in 2019.
The 2017 ring was partially used by Cinq to 10 million dollars plus acquired the catalog of copyrights recorded by hip-hop star TI; 2019 ring was used in part to purchase the Beluga Heights label, including the market share of Jason Derulo Table of contents.
Split into Cinq, in 2021 GoDigital acquired another famous music company – royalty promotion company Audio royalties – for what MBW understands as a sum of eight high numbers.
“Our ability to continue funding Cinq Music for its acquisitions is on the basis that music copyright is a long-term asset like an annuity,” it said. Jason Peterson of a new $100 million investment round.
“Across our business units over the past four years, GoDigital has invested more than $350 million through a variety of capital vehicles.
“Cinq is successfully expanding its labeling, distribution, and publishing capabilities while implementing GoDigital’s proven business model for global rights management.”
Jason Peterson, GoDigital
“Our 2019 C-chain grant to Cinq helped acquire the iconic Beluga Heights record label and artist Jason Derulo’s portfolio.
“Cinq is successfully expanding its labeling, distribution, and publishing capabilities while implementing GoDigital’s proven business model for global rights management.”
Chairman of Cinq Music Group, Barry Daffurnadds: “The increasing level of support we’ve received from GoDigital Media Group continues to help us make our company the number one destination for music creators.
“We are excited for what the future holds, becoming the preeminent partner of rights holders in the world’s large and fast-growing markets.
“Today we kicked off the ground in 11 countries and territories including the US, Mexico, Colombia, Argentina and South Korea, with many more to come.”
“Today we kicked off the ground in 11 countries and territories including the US, Mexico, Colombia, Argentina and South Korea, with many more to come.”
Barry Daffurn, Cinq Music
Added GoDigital CFO, Hunter Paletsa: “The whole GDMG family is proud of what Cinq continues to achieve. Cinq is truly fulfilling GoDigital’s mission of ‘inspiring happiness by sharing creativity’. ”
Cinq’s The repertoire spans over 47,000 recordings and includes Latin music artists such as Anuel AA, Arc Angel, Bad Bunny, Daddy Yankee, Fuerza Regida and Natanael Cano, along with music recorded by pop stars and pop stars. hip-hop like Janet Jackson, Jason Derulo, Sean Kingston and TI
Last year, Jason Peterson tell MBW on Cinq Music’s strategy: “We’ve made a difference in the music industry, typically by working in fast-growing emerging markets around the world.
“Our repertoire is mostly Latin music. But we’re also investing heavily in travelable English-speaking pop, R&B and hip-hop. ”
In addition to Cinq Music and Sound Royalties, GoDigital Media Group also owns AdSharea social media rights manager for music and video that helps rights holders monetize YouTube fan engagement, Google and SoundCloud.
AdShare previously announced that their video network passed the 100 billion views milestone in the 12 months ending April 1, 2021.Worldwide music business
