Top Qs
Timeline
Chat
Perspective
GoDigital Media Group
Media company in Los Angeles, USA From Wikipedia, the free encyclopedia
Remove ads
GoDigital Media Group (GDMG) is a diversified multi-national conglomerate founded in 2006 by Jason Peterson and headquartered in Los Angeles. GDMG focuses on intellectual property rights management through divisions in music, video networks, and brands (commerce).[2][3]
 | This article contains promotional content. (September 2024) |
Remove ads
Background
Summarize
Perspective
Early history
GoDigital Media Group was founded in 2006 by CEO and Chairman Jason Peterson.[4] It started out focused on licensing music rights, before expanding into other areas.[5] In 2008, it created a movie distribution subsidiary called GoDigital.[6] Two years later, it created supply chain software company, ContentBridge.[5] The video business expanded in January 2012, when it acquired video-on-demand business Might Entertainment, adding 700 movie titles to its licensing catalogue.[7] One of GDMG's early projects was for the song Despacito, which led to referrals from other indie artists publishing content on YouTube.[8]
In 2012, the company's music distribution business was renamed Cinq Music.[8] Over time, Cinq also became a music label, creator, and rights management firm.[9] That year, venture capital firm Preferred Ventures purchased a majority interest in the GoDigital subsidiary, for an undisclosed amount.[10] Preferred Ventures then merged GoDigital with Variance Films in January 2014, forming a movie distribution business called Amplify.[11] In 2015, the GoDigital subsidiary acquired independent film-maker Distribber.[12] In 2016, GDMG's AdShare subsidiary acquired Primo Media, a network of YouTube channels for Latin music that also markets music talent to YouTube content creators.[13]
In 2017, GDMG created Latido Music as an ad-supported Latin music TV channel.[14] Initially, GDMG's business was heavily focused on Latin music.[8] By 2018, it had 50-million listeners monthly, most of whom were from Latin American countries.[8] In 2017, it invested $20 million into its Cinq subsidiary to expand to other genres.[15] Its first major non-Latin project was in 2018, when the Cinq subsidiary recorded and distributed an album for Janet Jackson.[8] It also purchased Warner Music Group's music rights in songs from rapper T.I., using half of $20 million in funding provided by the parent company GDMG. At the time, it was GDMG's largest acquisition.[16] GDMG invested another $40 million into Cinq to acquire additional licensing rights in 2019.[17] That investment was subsequently used to purchased the Beluga Heights Record Label including the right to songs by Sean Kingston and Jason Derulo.[16] Latido Music acquired competing latin music business Mitú in February 2020,[18] which was later merged with NGL Collective.[19]
Recent history
During the COVID-19 pandemic, GoDigital Media Group shut down its headquarters in Los Angeles, California and transitioned to a remote workforce. It acquired eight businesses from 2020 - 2023.[5] In 2021, GoDigital partnered with MEP Capital Management to purchase YogaWorks, in a Chapter 11 bankruptcy auction, for $9.6 million.[20] YogaWorks had closed its physical Yoga studios due to the COVID-19 pandemic. GDMG converted it into an online subscription service.[5] In 2023, YogaWorks introduced a fitness program intended for users with breast cancer in partnerships with celebrity Samantha Harris.[21] GDMG also acquired Sound Royalties, which provides advances to artists in exchange for royalties in their music.[22]
In 2022, GDMG invested another $100 million into its Cinq Music subsidiary.[23] That same year, it acquired retailers Eastern Mountain Sports (EMS) and Bob's Stores from U.K.-based Frasers Group for $70 million.[5] EMS and Bob's Stores had physical stores, whereas GDMG had historically focused on IP rights management, content, and services.[24] Under its new owner, Eastern Mountain Sports made a series of ads making fun of its prior financial troubles and bankruptcy.[25] In June 2023, GoDigital said it would be bidding on acquiring Vice, which was in bankruptcy.[5] However, Vice selected a competing bid from Fortress Investment Group and was ultimately sold to that company.[26]
Remove ads
Subsidiaries
Summarize
Perspective
GoDigital Media Group's subsidiaries include:
- GoDigital gets a majority of its revenues from purchasing and licensing digital content.[27] It also facilitates distribution deals with streaming services like Netflix or Hulu, on behalf of content creators.[27] It develops and markets software that distributes digital multimedia content, tracks where it's been used, and translates the content for international markets.[27]
- Cinq Music Group is a music rights, distribution, and label business focused on Latin and indie music.[28][29] As of 2022, it licenses about 47,000 recordings.[30]
- AdShare is a digital rights business[29] that finds copyrighted audio content being used in third-party YouTube videos without permission.[31]
- Sound Royalties provides financing to artists in exchange for royalties.[32]
Networks:
- Latido Music creates multimedia content targeting millennial and Gen Z audiences.[29]
- NGLmitú creates digital content intended for the Latino demographic.[33] For example, it creates stories, programs, and documentaries on food and lifestyle topics, as well as branded content.[33]
- YogaWorks is an online yoga service.[34]
Commerce:
Remove ads
References
Wikiwand - on
Seamless Wikipedia browsing. On steroids.
Remove ads