Photo Credit: GoDigital Music
GoDigital Media Group rebrands, launching new divisions to scale music and media IP, and announces $230 million in new funding.
Intellectual property rights management company GoDigital, through its Los Angeles-based music division GoDigital Music, has announced another new capital raise, confirming $230 million from an assortment of investors for over $1 billion raised to date.
The significant funding, from investors including Bank of America, Mitsubishi UFJ Financial Group, East West Bank, First Horizon, Fifth Third, and Flag Star, marks another step forward in the company’s aim to strengthen its footprint and solidify its position as a leader in IP rights management.
The news comes alongside a restructuring of the GoDigital brand, shedding its former “Media Group” identity and leaning into its focus on music, networking, and brands with three new divisions aptly named GoDigital Music, Networks, and Brands.
To reflect its shift to encompass distribution, publishing, record label, and catalog innovation, Cinq Music is undergoing a rebrand. This will include a new name, which will be relaunched in the near future, alongside the development of multiple other genre-specific footprints.
“GoDigital is a powerful brand because its vision and purpose are anchored in inspiring happiness by sharing creativity. This financing, led by Bank of America, further validates GoDigital Music’s strategy of focusing on durable, culturally significant artists and repertoire from large and fast-growing markets around the world,” shared Jason Peterson, GoDigital Chairman and CEO.
GoDigital’s flagship music division has been a growing force in the acquisition space, with a catalog that includes well over 80,000 assets spanning numerous music genres, major artists, and multi-platinum hits. Among those, the company fully acquired record label Beluga Heights, which included Jason Derulo’s recording catalog, T.I.’s recording catalog, Daddy Yankee’s complete repertoire, the catalog of the late producer and songwriter known as Flow La Movie, and the publishing of producer and songwriter Jimmy Robbins of Morgan Wallen fame.
News of continued investment into GoDigital Music will enable the company to scale its initiatives and support the development and financial goals of many more artists around the world. Focusing heavily on acquisitions in Reggaeton, Musica Mexicana, Afrobeats, K-pop, and Country, the company is aiming for a diversified and global strategy in the ever-evolving music landscape.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.digitalmusicnews.com ’
