Los Angeles-based Cinq Music has absorbed $20m in series B funding to acquire music rights.
The money comes from its parent, media and tech company GoDigital Media Group, which is focused in IP and has previously invested in Cinq Music – which houses a record label, distribution operation and rights management component.
Although Cinq has been most notably associated with Latin music to-date, the funds will be used to acquire rights from all genres, across both masters and publishing.
It will also fund international expansion.
GoDigital Chairman Jason Peterson (pictured) said: “We’re ecstatic about our ability to fund Cinq Music for its acquisitions.
“Cinq is now strategically complete, having the ability to scale both its label, distribution, and publishing capabilities with our proven business model for global music rights management.”
“Cinq is now strategically complete, having the ability to scale both its label, distribution, and publishing capabilities with our proven business model for global music rights management.”
Jason Peterson, GoDigital Media Group
Cinq President Barry Daffurn added: “Up until now our growth has been primarily organic, so we are extremely excited to hit the throttle, bring on some additional catalogs, and sign new talent.
“Over the past few years we have built a music company for the future, a place for mid-to-high level talent to grow outside of the major label system.”
In the last year, Cinq released five number one Indie records on the Billboard Urban and Tropical Charts and was nominated for Latin Rhythm Label of The Year at the 2016 Latin Billboards.
Other companies in the GoDigital network include ContentBridge, AdShare and VidaPrimo.Music Business Worldwide
