Create Music Group Acquires Minority Stake in DistroKid
The acquisition is the latest in Create's recent string of investments in the indie space.
Create Music Group has recently acquired a minority stake in DistroKid, a music distribution platform. This acquisition occurred earlier in the year, following CVC Capital Partners' majority stake purchase in July. While the exact terms of the minority investment were not disclosed, Create Music Group CEO Jonathan Strauss expressed excitement about the partnership.
Strauss noted that Create is home to numerous significant independent record labels and artists, while DistroKid serves as the launching pad for many artists' careers. In March, Create Music Group announced a $450 million funding round, which valued the company at $2.2 billion. This investment was used to bolster growth initiatives, including acquisitions and advances.
Prior to this round, Create had acquired several music labels, including Monstercat, !K7, and Cr2, as well as deadmau5's publishing and master recording catalogs and a 50% stake in the U.K. dance label Enhanced Music.
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