GoDigital Media Group, a media/tech incubator and early-stage capital venture fund, announced follow on funding for Cinq Music, a global music distribution and rights management service. Cinq Music not only manages music copyrights, but also builds and leverages audiences for its clients and monetizes that audience beyond just music. The co-announcement was made by GDMG Chairman Jason Peterson and Cinq Music Co Founder Barry Daffurn. The additional capital will enable Cinq Music to grow its portfolio through financing catalog acquisitions, advances to artists, and accelerating development of its cloud based technology solutions.
New Artists, New Investments
'We are excited to announce an aggressive additional investment to Cinq Music', says Peterson. 'Barry [Daffurn] has quickly grown a unique company to a profitable entity that supports artists via a very flexible 360-degree model of monetizing music copyrights, videos, social media, and fan engagement. It's a very attractive business model, it's a royalty business with limited brick and mortar costs.' 'We are pleased to have GoDigital Media Group's continued support and shared vision. The music industry is going through a dynamic shift right now, and we plan to not just be a part of it, but to push the envelope,' says Daffurn, adding, 'We have been attracting top talent and growing our catalog by offering advances on acquisitions, and providing innovative models for marketing and monetization of those assets.'
Cinq's Musical Beginnings
Cinq was incubated in late 2012 as a pure-play music distribution solution but soon iterated to help their clients find new ways to monetize their brand. With many of Cinq Music's top clients in the Latin and urban musical genres, Daffurn sees a global picture for the company. 'It's really about taking and monetizing our music globally,' he says. 'There's a global audience for every artist, which represents a long term financial annuity for them. Cinq Music provides a sophisticated service to monetize each artist's individual audience through distribution, marketing and direct-to-fan services.'
Cinq Music Clients/Milestones
Cinq Music has distributed content from Daddy Yankee, Master P, French Montana, E-40, J Alvarez, Farruko, De La Ghetto, Arcangel, Justin Quiles, Nengo Flow, Jowell & Randy among many others.
Cinq Music's administered videos total more than 500MM views on YouTube, and it has released numerous albums that have appeared in the iTunes Latin Top 10. At any given time, upwards of 40% of Vevo's Top 10 Latin videos are Cinq Music distributed. Cinq Music has already worked on a number of RIAA certified singles including: J Alvarez' 'Se Acabo El Amor,' and Farruko's 'Passion Whine.'
About Cinq Music
Cinq Music is the ultimate music distribution company, focusing on creative new ways to monetize each client's brand while continuing to harness traditional revenue streams. http://www.cinqmusic.com