Music analytic company BuzzAngle is receiving strategic investment from Penske Media.
Announced today (July 27), Penske Media plans to leverage some of its key brands, chief among them Rolling Stone, Variety, Deadline and IndieWire, to deepen the influence and expand exposure of the BuzzAngle charts in addition to creating custom charts for specific content verticals. The investment will also provide BuzzAngle a stronger financial foundation from which to grow. The BuzzAngle investment was led by Michael Ye, Senior Director, Strategic Planning and Acquisition for PMC.
Founded in 2013, and launched in 2016 by Border City Media founder Jim Lidestri, BuzzAngle has revolutionized the way businesses analyze music consumption and related trends. The system incorporates the daily sales, streaming and airplay activity of albums, songs and artists.
“We’re thrilled to announce our investment in BuzzAngle, and partnership with Jim and the team.” said Jay Penske, the founder, Chairman and CEO of PMC. “BuzzAngle has already accomplished many milestones—but as part of this new alliance, we will jointly push even more aggressively to make the charts an essential and central part of music, media and the entertainment industry.”
“Penske Media is the perfect partner to help BuzzAngle fulfill the goals we set out to achieve at our founding,” said Lidestri. “The needed funding will accelerate product development and the reach of Variety and Rolling Stone will provide an unparalleled ability to bring charts and data analysis both to the music industry and to music fans worldwide.”
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