Penske Media Makes Equity Investment In Music Business Worldwide
Penske Media Corporation has announced a strategic equity investment in London-based Music Business Worldwide, which first entered into a global content partnership with Rolling Stone and Rolling Stone owner PMC in November 2018. With the addition of MBW to PMC’s family of brands, PMC will enable MBW to collaborate more closely with PMC’s portfolio of 19 media brands, particularly Rolling Stone, PMC’s music analytics platform Alpha Data, and Variety.com. The deal expands PMC’s investment in the music business, with the combination of MBW’s editorial voice and Alpha Data’s analytics providing deeper insights and breadth of analysis.
“Five years into MBW’s story, we are confident that in PMC we have found the perfect partner with which to join forces,” said MBW Founder and Publisher Tim Ingham. “PMC’s brands, content and people are defined by quality, with the power to lead industry conversations across entertainment. MBW is excited to work closely with Alpha Data to generate must-read industry insights, and we look forward to building on our alliance with Rolling Stone, exploring further strategic opportunities that bring tangible value to the music business.”
Since its founding in 2015, MBW has become a source of dependable breaking news and influential analysis for execs across the music industry. This more comprehensive partnership paves the way to launch innovative content and revenue models driven by both MBW’s respected coverage and PMC’s ability to utilize innovative technology to scale quality content.
“We continue to be impressed with Tim and MBW’s strong relationships and expertise in covering the business of music,” said PMC Chairman and CEO Jay Penske. “In particular, Tim and his talented team have tapped into a top tier global audience with quality well above and beyond offerings by competitors. We see significant potential in what we will build together.”
PMC made a strategic investment in state-of-the-art music analytics service Alpha Data in 2018 and in 2019 launched the Rolling Stone Charts powered by Alpha Data, customized for specific content verticals that incorporate digital and physical sales as well as on-demand streaming activity. In December 2017 Rolling Stone joined PMC and the brand relaunched with a revamped print magazine and website, innovative live events schedule, and larger roster of editorial talent.
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