Grammy Week is abuzz with industry-changing information.
As you’ll have seen, BMG is outwardly in talks to probably purchase Harmony.
Sony Music Group additionally selected this week to announce that it’s launching a music rights acquisition JV with Singapore’s GIC, with plans to speculate $2 billion to $3 billion within the enterprise.
Right this moment (January 30), MBW brings you information of one other transformative potential deal.
In keeping with a number of robust sources, distribution platform DistroKid is holding talks with potential consumers over a big-money sale.
MBW hears that DistroKid is being repped by each Raine and Goldman Sachs in these discussions.
The quantity being bandied round Los Angeles is USD $2 billion, though some sources recommend that worth might escalate even greater.
Right this moment’s information comes sizzling on the heels of DistroKid investor Perception Holdings confirming that it has acquired Europe-based distribution platform Zebralution from GEMA.
DistroKid was based by Philip Kaplan in 2013 and was valued at $1.3 billion following Perception Companions’ funding in August 2021.
In January 2024, Kaplan took extra of a backseat function on the firm, transitioning from CEO to Chairman.
DistroKid is now run day-to-day by President Phil Bauer.
Bauer beforehand served as DistroKid’s Chief Working Officer since 2018.
The New York-based firm claims that it handles 30% to 40% of recent music releases globally and serves greater than 2 million artists.
In October, DistroKid launched a brand new direct-to-fan gross sales platform, marking the music distributor’s push past audio and video distribution companies and into merchandise gross sales.
The brand new platform, Direct, builds on know-how from direct-to-fan platform Bandzoogle, which DistroKid acquired in 2023.Music Enterprise Worldwide
