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Cinq Music Lands Another $250 Million to Fund Acquisitions

Mr. Nimbus | 02/12/2024

Cinq Music has raised $250 million from parent company GoDigital Media Group to fund further acquisitions of music rights, the company announced Monday (Feb. 12). This latest funding round builds on the $160 million GoDigital had previously given Cinq to build a repertoire of music rights — $20 million in August 2017, $40 million in August 2019 and $100 million in April 2022.

“It has always been our ultimate vision to amass a billion-dollar balance sheet of music rights,” Jason Peterson, chairman/CEO of GoDigital Media Group, said in a statement. “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.”

With a focus on Latin music and hip-hop, Cinq claims to have more than $300 million of assets under management spanning 80,000 recorded music and publishing copyrights. In recent years, the company has been a major player in the rise of Regional Mexican music and artists such as Fuerza Regida, Natanael Cano, Legado 7 and Tito Torbellino Jr. In June, the company signed a worldwide deal with Street Mob Records, the label founded by Fuerza Regida’s Jesús Ortiz Paz with a roster that includes Chino Pacas, Calle 24, Ángel Ureta, Chuy Montana and Linea Personal. Cinq has worked with Rancho Humilde, Fuerza Regida’s label, since 2018.

Earlier funding helped Cinq build out its presence in hip-hop and R&B. In 2017, Cinq bought rapper T.I.’s Atlantic Records-era recorded music catalog — including Billboard 200 No. 1 albums KingT.I. vs. TIP and Paper Trail — as Warner Music Group divested assets from its Parlophone Music Group acquisition in 2013. The following year, Cinq partnered with Janet Jackson to distribute her label, Rhythm Nation Records, and released “Made For Now,” Jackson’s collaboration with Daddy Yankee. In 2020, Cinq welcomed Jason Derulo to its roster through the acquisition of the Beluga Heights joint venture with Warner Records.

This post was originally published on this site

Written by Mr. Nimbus

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