menu Home chevron_right
Music News

Vinyl Group Identifies Synergies, ‘Clear Path to Profitability’ Following The Brag Media Acquisition

Mr. Nimbus | 02/08/2024

Vinyl Group now has a fourth pillar.

Following the completion of its acquisition of The Brag Media, the Sydney-based music and tech specialist doubles-down on its mission to build revenue and integrate its new asset.

As previously reported, the transaction is funded with a new investment by billionaire WiseTech Global founder and CEO Richard White, by way of an A$11 million ($7.5 million) placement and debt facility, uniting the only music specialist company listed on the Australian Securities Exchange (ASX) with the market leader in premium youth content and events.



See latest videos, charts and news

See latest videos, charts and news

“Our real mission or vision that we all have in the company is to empower and power all facets and parts of the music ecosystem,” Vinyl Group CEO Josh Simons tells Billboard.

When the group, previously known as Jaxsta, prior to a rebrand in early December, spotted an opportunity with The Brag Media, “we also knew that the company was going to evolve into more of a portfolio music company,” Simons continues.

Prior to the purchase, Vinyl Group’s portfolio was built on the three pillars of its music credits business Jaxsta; the leading music industry social-professional network and talent marketplace Vampr; and, the online record store. The Brag Media, with its range of titles including Rolling Stone AU/NZ, Variety Australia, Tone Deaf and trade title The Music Network, is its fourth pillar. is a “very fast growing ecommerce platform, it speaks to the fan,” Simons continues, “but a huge part of connecting the dots here is connecting fans as creators, and media and events and everything that The Brag does, fills that gap.” When the opportunity came across the table, and “when we knew what direction they were boldly headed in, it made a lot of sense and got us excited very quickly.”

The amalgamation of both business presents “some really obvious low hanging synergies,” he explains, pointing to sales synergies between Vampr and The Brag Media as one example, “but broadly speaking, it plugged a hole in this broader flywheel of servicing all participants in the music ecosystem.”

People, product and process – “that’s really always my focus,” explains Simons.

The co-founder of Vampr, Simons was elevated from chief strategy officer to CEO in June 2023, succeeding Beth Appleton, who stepped down as CEO with immediate effect.

“Revenue, cost efficiency and profitability remain the top priorities for Jaxsta,” Simons commented at the time of his ascension, “and I look forward to building on the current momentum.”

The agenda remains the same.

“The headline KPI was four quarters of consecutive revenue growth and moving towards profitability,” Simons says. “Under my tenure, we’ve released three quarters of performance. And in each quarter, we’ve averaged 204%, quarter over quarter.” The Brag deal “turbo charges that”.

The completion of the acquisition was confirmed with a statement Feb. 1, when stock was trading at $0.063. At the close of trading today (Feb. 8), VNL stock was trading at $0.066, for a market cap of $41.73 million.

Prior to the deal going through, The Brag Media bolstered its executive team with a triumvirate of appointments. Dane Robertson returned to the company in the newly-created role as head of client and event partnerships in Australia and New Zealand, following a stretch at media firm Pedestrian Group. Also, Denise Barnes joined as client projects director following six-plus years with lifestyle site Man of Many, most recently as head of branded content, and Anan Salvarinas joined the team as senior creative strategist, following two-and-a-half years with LADbible Australia, including a recent run as senior creative (brand).

This year is an “important” one for the business “as we focus on integrating The Brag Media into Vinyl Group’s properties as well as continued strong growth of our technology products,” explains Simons in the Feb. 1 statement to the ASX. “We now have a very clear path to profitability.”

This post was originally published on this site

Written by Mr. Nimbus

This area can contain widgets, menus, shortcodes and custom content. You can manage it from the Customizer, in the Second layer section.





  • cover play_circle_filled

    Tiki Town Radio

  • cover play_circle_filled

    Pendulum Radio

  • cover play_circle_filled

    Global Darkness Radio

  • cover play_circle_filled

    Desire Unbound Spa Radio

  • cover play_circle_filled

    Nimbus Hits
    Today's hits and classic favorites

  • cover play_circle_filled

    Nimbus Entertainment 80s

  • cover play_circle_filled

    Nimbus Dark Dance

  • cover play_circle_filled

    Nimbus Punk
    Classic and modern punk and hardcore

play_arrow skip_previous skip_next volume_down