- Cinq Music recently announced that it raised $40 million in Series C funding from GoDigital Media Group, which is a media and technology investor focused on intellectual property rights management
Cinq Music announced it has raised $40 million in Series C funding from GoDigital Media Group — which is a media and technology investor focused on intellectual property rights management. GoDigital Chairman and CEO Jason Peterson made the announcement and pointed out that Cinq Music will use the funding to purchase music rights, both masters and publishing. And the funding will also be used to further expand internationally.
“We’re thrilled about our ability to fund Cinq Music for its acquisitions,” said Peterson. “Our series B funding resulted in the acquisition of multi-Grammy winning rapper T.I.’s (Clifford Joseph Harris) catalog and partnering with Janet Jackson for a recording and distribution agreement through her Rhythm Nation Records. Cinq is having great success scaling its label, distribution, and publishing capabilities while executing GoDigital’s proven business model for global rights management.”
GoDigital Media Group’s operating subsidiaries include Cinq Music, VidaPrimo, Latido Music, AdShare, and ContentBridge. And the company’s mission is to “inspire happiness through sharing creativity” GoDigital Media’s “digital first” subsidiaries provide best-of-breed capabilities in IP acquisition, distribution, and collection marketing locally popular content to global audiences. And GoDigital content is streamed over seven billion times per month.
“We are extremely happy with the continued level of support we have received from GoDigital Media Group as we grow the company and execute on our mission to be the number one destination for independent creators. We are excited for what the future holds for our company, the music business as a whole, and, most importantly, the amazing creators we have the pleasure of working with. We have some very exciting projects coming that we can’t wait to show to the world,” added Cinq President Barry Daffurn.
Cinq Music Group is a technology-driven music distribution, record label, and rights management company. And Cinq Music releases have won numerous Grammy Awards, earned dozens of RIAA Gold & Platinum certifications, and received a nomination as Billboard Latin Urban Label of the Year.
“The whole GDMG family is proud of what Cinq accomplished thus far and we look forward to supporting their continued growth. The direct feedback we’ve heard from artists and creators is nothing short of inspiring with respect to the value-added partnership and engagement they have with the team. Cinq is truly fulfilling GoDigital’s desire to inspire happiness by sharing creativity around the world,” explained GDMG CFO Hunter Paletsas.
