Music Industry News

Anghami Says They’re Juggling Multiple Investment and Acquisition Offers

Anghami, the leading music-streaming service for residents of North Africa and the Middle East, claims to be fielding multiple equity-investment offers and acquisition proposals. In a recent interview, Anghami co-founder Elie Habib confirmed previous reports that his company is evaluating investment and buyout bids. Specifically, Habib said that Anghami has “been approached by multiple parties” and that he […]

Music Industry News

Spotify Reportedly Paid $250 Million for Podcast Platform The Ringer

Spotify’s recent acquisition of The Ringer, a sports and pop culture website and podcast network, cost approximately $250 million.  Exact sales figures are expected to be publicly released in an upcoming SEC filing. According to an anonymous source spilling the beans to Bloomberg, however, Spotify will provide $200 million upfront, and the remaining $50 million […]

Music Industry News

LiveXLive Acquires Spring Awakening Promoter React Presents for $2 Million

Live-streaming concert and original content platform LiveXLive has acquired React Presents, an organizer and promoter of EDM concerts.  The deal came at a price of $2 million, according to the companies. The sum was funded with a convertible subordinate note, a type of debt security that can be leveraged against stock. It was also revealed […]

Music Industry News

Exactuals Acquires Backlash Solutions, Opens NYC Office

SaaS-based payments processing firm Exactuals has acquired Backlash Solutions, a digital music company that specializes in helping industry professionals organize data and more efficiently calculate royalties. As part of the deal, Backlash President and CEO Joe DeCanio and his current employees are in the process of opening a new office in New York City, which […]

Music Industry News

The Ringer Staff Finds Out About Spotify Acquisition Talks—from the Wall Street Journal

Spotify’s interest in acquiring The Ringer, a sports and popular culture website and podcast network, came as a surprise to many—including Ringer employees, who learned of the news just like everyone else did: through a report published by The Wall Street Journal on January 17th. Today, The Ringer’s team members issued a public response to […]

Music Industry News

Downtown Music Is Going ‘Full Stack’ — Acquires Amsterdam-Based FUGA

FUGA CEO Pieter van Rijn Downtown Music Holdings’s AVL Digital Group has acquired FUGA, an Amsterdam-based digital music distributor and service provider. The purchase, which was announced publicly this morning (January 22nd), is the latest in a series of aggressive, growth-minded investments from Downtown. In March of 2019, the company finalized an estimated $200 million […]