The music world continues to get smaller and smaller, eliminating diversity and the cost of the all mighty money sign. The Hollywood Reporter-Billboard Media Group has reportedly acquired all of Spin Media’s music outlets Spin, Vibe and Stereogum – creating the largest musical conglomerate on the face of the planet by digital traffic, social reach, and audience share. The Media Group’s earnings will grow to more than $100 million a year, with two-thirds of that coming from video and digital revenue streams.
“In recent years, we set out to own the topic of music online, and the acquisition of these incredible music assets helps us do just that. By making these storied brands part of our family, The Hollywood Reporter-Billboard Media Group will be able to fully capture the value of millennials and music, and continue to strengthen its leadership position in this critical arena.” – Media Group co-president John Amato
“Bringing in these historic brands under Billboard gives us the chance to serve passionate music audiences from rock to urban to pop in one massive portfolio. The power and scale of these combined, complementary digital assets gives us the ability to deliver even more ways to reach our audience through TV, video, live events, and social and online media.” – Media Group co-president Janice Min
With an astounding media presence that includes 45 million unique visitors a month while producing custom content with Facebook as well as heavily pursuing the video media as a main source of for their views, amassing over 100 million monthly, their new Chief Strategy Office Stephen Blackwell, the former CEO of SpinMedia, has a lot to live up to as he will oversee revenue, digital growth, and product, reporting to Amato.
Via: Billboard
