LOS ANGELES, CA, GoDigital Media Group, a media and technology investor focused on intellectual property rights management, has infused Los Angeles based Cinq Music with $40mm in Series C funding.
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The announcement was made by GoDigital Chairman and CEO Jason Peterson. Cinq Music will use the funding to purchase music rights, both masters and publishing, and to further expand internationally. Additional details of the funding were not disclosed.
"We're thrilled about our ability to fund Cinq Music for its acquisitions," says 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."
Cinq President Barry Daffurn added, "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."
Adds GDMG CFO Hunter Paletsas, "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."
About GoDigital Media Group:
Through its operating subsidiaries: Cinq Music, VidaPrimo, Latido Music, AdShare and ContentBridge, GoDigital Media Group ("GDMG") is a diversified multi-national holding company focused on investing in technology enabled intellectual property rights management. GDMG's mission is to "inspire happiness through sharing creativity." Its 'digital first' subsidiaries provide best-of-breed capabilities in IP acquisition, distribution, and collection marketing locally popular content to global audiences. GoDigital content is streamed over seven billion times per month. http://www.godigitalmg.com
About Cinq Music:
Cinq Music Group is a technology driven music distribution, record label, and rights management company. 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. http://www.cinqmusic.com