Wednesday, August 14, 2019

Cinq Music Adds $40M From GoDigitalMedia To Acquire Music Catalogs, Masters | hypebot

image from ww1.prweb.comLA-based Cinq Music has received $40 million in Series C funding from GoDigital Media.  The funding will allow Cinq Music to acquire masters and publishing right and to further expand internationally.

From l-r; Master P, Cinq President, Urban Music, Jason Peterson, CEO Godigital Media Group, Cinq artist T.I. and Barry Daffurn, Cinq co-founder and President

Additional details of the funding were not disclosed.

“We’re thrilled about our ability to fund Cinq Music for its acquisitions,” says GoDigital Chairman and CEO Jason 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."


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