LOS ANGELES, Feb. 12, 2024 (GLOBE NEWSWIRE) -- Cinq Music, a subsidiary of GoDigital Media Group, today announced a new music acquisition fund delivering $250 million for the acquisition of music rights. This new fund builds on the $160 million previously invested into Cinq Music since 2017 and the more than $300 million in assets currently under management by Cinq. The leading indie distributor, record label and publisher, with a diverse catalog of over 80,000 marquee assets and several billion video and audio streams per month, will leverage the additional funds to continue its trajectory as a major global independent music company driving large and fast-growing music genres forward, including reggaeton, Música Mexicana, Afrobeat, and Country. The news comes on the heels of a windfall of recent successes for Cinq, including a new global deal with regional Mexican power player Jesus Ortiz Paz’s Street Mob Records and breakout chart toppers such as “Qué Onda” from Fuerza Regida, Chino Pacas, and Calle 24 that peaked at #16 on the Spotify Global Charts and continues its multi-week run in the Top 50.
“We have cemented our reputation in the music industry as a leader when it comes to sourcing, valuing, acquiring and managing music repertoire. It has always been our ultimate vision to amass a billion-dollar balance sheet of music rights,” said Jason Peterson, Chairman and CEO of GoDigital Media Group. “With Cinq’s continuous expansion, operational excellence, and keen ability to attract top talent, it is only natural that we would again commit to accelerating growth towards that goal.”
A cornerstone of the new fund’s launch is a soon-to-be unveiled marquee catalog acquisition, which includes the legendary repertoire of some of the industry’s most influential hitmakers. The 8-figure deal is a firm testament to Cinq’s major spending power, its commanding position as the destination of choice for music creators globally, and its continued dominance across music genres, distribution and rights management that leaves an enduring influence in the market at large.
For Cinq Music President Barry Daffurn, the latest round of funding provides a welcome opportunity to build upon its massive success. “I’m extremely proud of what we’ve built so far, and grateful to see it validated by the continued support of GoDigital and our financing partners. I’m also thankful for our amazing team and the unbelievable artists we get to work with and support every day. I couldn’t be more excited to continue to build this company on a global stage. As we grow, we remain laser focused on providing artists with the maximum value in financing and services to ensure that staying independent isn’t a sacrifice.”
In addition to being one of the early indies to support reggaeton, Cinq Music has been on a Musica Mexicana hot streak over the past few years, notably, with its longstanding partnership with Rancho Humilde, and by helping to fuel the careers of Fuerza Regida, Natanael Cano, Marca Registrada, and DannyLux, among others. The company also boasts some of the most culturally significant artists in the industry among its repertoire including Anuel, Bad Bunny, Daddy Yankee, Jason Derulo, Sean Kingston, T.I. and many more.
With a global team and offices in 11 countries around the world, Cinq has used its growth to accelerate not just its presence in Latin America, but also in Africa and Asia. In addition to its acquisition endeavors, Cinq has plans to leverage its investment to be a major player in yet another highly popular genre: country music. With a new office in the heart of Nashville and recent catalog acquisitions from hit songwriters including Jimmy Robbins and Ryan Hurd, the company is continuing its ambitious growth plan and living up to its reputation as the leading independent distributor, record label, and publisher in the U.S. and globally.
About Cinq Music
Cinq Music is a technology-driven music distributor, record label, and publisher with major hubs in Los Angeles, New York, Nashville, Mexico City, Bogota, Medellin, Seoul, Minsk, and Colombo. Cinq’s prominent repertoire has won multiple Grammy awards and dozens of Gold and Platinum RIAA certifications and has held numerous number one chart positions across a variety of Billboard charts. Its impressive roster includes culturally significant artists in Latin Music such as Anuel AA, Arc Angel, Bad Bunny, Daddy Yankee, Fuerza Regida, and Natanael Cano, as well as English language Pop and Hip-Hop icons such as Jason Derulo, Sean Kingston, T.I., and many more. Cinq Music is a division of GoDigital Media Group, a multinational conglomerate founded in 2006 by Jason Peterson, with a mission to connect consumers to joy through content, community, and commerce. For more information, visit www.cinqmusic.com.
Media Contact
Desiree Dozier
GoDigital@FinnPartners.com
