Create Music Group has acquired again.<\/p>\n
The company,\u00a0which was\u00a0valued at $1 billion\u00a0<\/strong>following a $165-million<\/strong> investment round last year<\/a>, has swooped for independent electronic music label Monstercat<\/strong>.<\/p>\n As part of the deal, Create said it has committed to investing an additional $50 million over the next two years in artist development, advances, and platform support across Monstercat\u2019s roster, \u201cto accelerate both new signings and long-term career growth\u201d.<\/p>\n Financial terms beyond the $50 million investment commitment weren\u2019t disclosed.<\/p>\n Monstercat has staff based in Vancouver, Toronto and Los Angeles.<\/span><\/p>\n According to the official announcement, Monstercat will continue to operate as an independent entity under its current leadership team, which includes Daniel<\/b> Turcotte<\/b>, who will continue as Monstercat’s President; Vice President Orri Sachar<\/b>; and Finance Director Rob<\/b> Hill<\/b>.<\/p>\n The label’s founders, Mike Darlington<\/b> and Ari Paunonen<\/b>, will remain in advisory roles.<\/p>\n \u201cMonstercat is everything an independent label should strive to be \u2014 exclusive, globally trusted and capable of breaking artists and songs at the highest levels.\u201d<\/p>\n Jonathan Strauss, Create Music Group\u00a0<\/span><\/p><\/blockquote>\n \u201cMonstercat is everything an independent label should strive to be \u2014 exclusive, globally trusted and capable of breaking artists and songs at the highest levels,\u201d said <\/span>Jonathan Strauss<\/b>, Co-Founder and CEO of Create Music Group. <\/span><\/p>\n \u201cMike, Ari, Daniel, Orri, and the entire Monstercat team have built a culture and community at a scale rarely achieved in the music industry. We are excited to support their mission.”<\/span><\/p>\n The acquisition marks Create Music\u2019s latest acqusition, coming less than a month after it bought<\/a> Berlin-headquartered independent music company !K7<\/b>.<\/p>\n In March, Create acquired the catalog of electronic music producer and DJ Deadmau5, along with that of his label Mau5trap, in a deal<\/a> valued at over\u00a0$55 million.<\/strong><\/p>\n Create Music also\u00a0announced<\/a>\u00a0a strategic catalog acquisition and joint venture with\u00a0Pack Records<\/b>\u00a0of New York and New Orleans in February.<\/p>\n In November, the company\u00a0acquired<\/a>\u00a0Manchester, UK-based record label and music publisher\u00a0Ostereo<\/b>, and in December, it\u00a0scooped up<\/a>\u00a0a\u00a050%<\/b>\u00a0stake in London-headquartered label and publisher\u00a0Enhanced<\/b>.<\/p>\n