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GoDigital Media Group

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GoDigital Media Group
Company typePrivate
Industry
  • Entertainment
  • Digital Media Technologies
FoundedSanta Monica, California (2005)
Founders
Key people
  • Jason Peterson
  • Barry Daffurn
  • Manfred Van Ursel
  • Hunter Paletsas
Number of employees
1250
Subsidiaries
Websitewww.godigitalmg.com
Footnotes / references
4712 Admiralty Way, Marina Del Rey, Ca 90292 United States

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]

Background

[edit]

GoDigital Media Group was founded by CEO and Chairman Jason Peterson in 2006 as a digital music distributor.[4][5][6]

In 2007 GDMG created a division named AdShare, the first social media monetization business identifying, tracking, and monetizing rights on YouTube.[7][8]

In 2008, Peterson and GDMG created a digital video division eponymously named GoDigital, inc, that specialized in digital movie distribution.[9] In January 2012, GoDigital, inc acquired Might Entertainment for its 800 film catalog creating a combined company with over 1,100 titles.[10] In August, 2012 GoDigital, Inc. was majority sold to Preferred Ventures who made a control investment.[11] Preferred Ventures then merged GoDigital inc with Variance Films in January 2014, forming a new theatrical movie distribution entity, Amplify.[12][13]

In 2010, Peterson and GDMG commercialized their ContentBridge platform to offer cloud based digital supply chain and rights management under a SaaS model to major movie studios and networks.[14][15][16] In 2014, ContentBridge won the 2014 Entertainment Merchant Association's “Industry Leadership” Digital Award for software support for the SMPTE Interoperable Master Package (IMP), CableLabs and UltraViolet digital supply chain standards.[17][18]

In 2012, GDMG's music distribution business was rebranded Cinq Music and the mandate was broadened to include distribution, publishing and record label activities.[19]

In 2016, GDMG's AdShare unit acquired Primo Media to create VidaPrimo, the then largest Latin music only multi-channel network.[20][21]

In 2017, GDMG created Latido Music as a free ad-supported linear Latin music television channel[22]

Acquisitions and growth

[edit]

Starting in 2017:

  • GDMG invested $20 million into its Cinq Music division, hired rap mogul Master P to be President of Urban Music[23] and acquired 3x Grammy Award-winning rapper T.I.'s catalog from Warner Music Group.[24][25]

In 2018:

In 2019:

  • GDMG invested another $40 million into its Cinq Music division for music rights acquisitions to follow on to existing Latin repertoire from Anuel, Bad Bunny, Carin Leon, Natanael Cano and others.[27]

In 2020:

  • Cinq Music acquired the Beluga Heights Record Label including the catalogs of Sean Kingston and Jason Derulo for an eight figure sum.[28]
  • GoDigital then also acquired Hispanic targeted multi-platform network mitu which along with the Latido Music channel forms the programming and production core of their networks division.[29][30] With mitu, GoDigital and its business units have access to A-level content production.[31][3]

In 2021:

  • GDMG bought YogaWorks, the largest Yoga studio business in the U.S., out of COVID- induced bankruptcy.[32] The company purchased YogaWorks to transform the business model into a digital first subscription based business for health, wellness and longevity.[33][34]
  • GDMG and MEP Capital (“MEP”) acquired Sound Royalties for high eight figures.[35][36] Peterson stated in Music Business Worldwide his plans for GoDigital. “We have a vision for a billion dollar balance sheet of rights. We are raising tremendous amounts of money right now, we have a tremendous pipeline of acquisitions. There will be more news about deals and new financing.[3]

In 2022:

  • GDMG invested another $100 million into its Cinq Music division for music rights acquisitions, bringing GoDigital's total investment in Cinq Music to $160 million.[37]
  • GDMG's Commerce division acquired consumer brand Eastern Mountain Sports and its physical retail business alongside New England retailer Bob's Stores for $70 million.[38]

Subsidiares

[edit]

GoDigital Media Group's subsidiaries include:

  • GoDigital gets a majority of its revenues from purchasing and licensing digital content.[39] It also facilitates distribution deals with streaming services like Netflix or Hulu, on behalf of content creators.[39] It develops and markets software that distributes digital multimedia content, tracks where it's been used, and translates the content for international markets.[39]
  • Cinq Music Group is a music rights, distribution, and label business focused on Latin and indie music.[40][41] As of 2022, it licenses about 47,000 recordings.[42]
  • AdShare is a digital rights business[41] that finds copyrighted audio content being used in third-party YouTube videos without permission.[43]
  • Sound Royalties provides financing to artists in exchange for royalties.[44]

Networks:

  • Latido Music creates multimedia content targeting millennial and Gen Z audiences.[41]
  • NGLmitú creates digital content intended for the Latino demographic.[45] For example, it creates stories, programs, and documentaries on food and lifestyle topics, as well as branded content.[45]

Commerce:

  • GoDigital Brands is the subsidiary that manages GoDigital's commerce brands.[47]
  • ContentBridge is a supply chain software company.[41]

References

[edit]
  1. ^ "Sundance: GoDigital & Variance Films Merging, Re-Branding As Amplify – Deadline". Deadline – Hollywood Entertainment Breaking News. 15 January 2014. Retrieved 2019-10-26.
  2. ^ "GoDigital Media Group". GoDigital Media Group. Retrieved 2022-05-26.
  3. ^ a b c "GoDigital's Jason Peterson: 'We have a vision for a billion-dollar balance sheet of music rights.'". Music Business Worldwide. 19 May 2021. Retrieved 14 January 2022.
  4. ^ "CORRECTING and REPLACING GoDigital Licenses Content to Qtrax; Next Generation Record Label Endorses Qtrax for Ad-Supported P2P Digital Distribution". BusinessWire - Brilliant Technologies Corporation. 19 September 2006. Retrieved 27 September 2014.
  5. ^ Kay, Jeremy (30 August 2012). "Logan Mulvey, GoDigital". Screen Daily. Retrieved 9 December 2014.
  6. ^ "Symbolic Entertainment". BackStage.com. Archived from the original on 15 July 2014. Retrieved 15 July 2014.
  7. ^ "Good Questions...with Cameron Dole". Listen Notes. Retrieved 2022-05-26.
  8. ^ "5-17-22 The Songwriter Show Jason Peterson - The Songwriter Show (podcast)". Listen Notes. 17 May 2022. Retrieved 2022-05-26.
  9. ^ Kung, Michelle (11 January 2012). "GoDigital Ramps Up Digital Distribution Plans". The Wall Street Journal. Archived from the original on 9 December 2014. Retrieved 22 April 2013.
  10. ^ Miller, Daniel (2012-01-10). "GoDigital Distributor Acquires VOD Firm Might Entertainment". The Hollywood Reporter. Retrieved 2022-05-26.
  11. ^ Kay2012-08-02T23:52:00 01:00, Jeremy. "Preferred Ventures buys into digital distributor GoDigital". Screen. Retrieved 2022-05-26.{{cite web}}: CS1 maint: numeric names: authors list (link)
  12. ^ Kit, Borys (2014-01-15). "GoDigital and Variance Films Merge to Form Amplify". The Hollywood Reporter. Retrieved 2022-05-26.
  13. ^ Fleming, Mike Jr. (2012-08-02). "Preferred Ventures Invests In GoDigital". Deadline. Retrieved 2022-05-26.
  14. ^ "GoDigital Media Group Makes Changes on Top; Promotes Logan Mulvey to President" (Press release). Reuters. 8 September 2010. Archived from the original on July 27, 2014. Retrieved 15 July 2014.
  15. ^ Tribbey, Chris (2016-02-09). "ContentBridge Develops Automated Delivery Channel for Proximus TV and Studio 100". Media & Entertainment Services Alliance. Retrieved 2022-05-26.
  16. ^ "ContentBridge Helps Studio 100 Make The Big Move". PRWeb. Retrieved 2022-05-26.
  17. ^ Latchem, John (9 October 2014). "'Breaking Bad,' Amazon, Content Bridge, Disney Among EMA Digital Honorees". Home Media Magazine. Archived from the original on 10 October 2014. Retrieved 10 October 2014. The Entertainment Merchants Association Oct. 8 presented its "Digi" Awards for outstanding achievement in digital entertainment content, retailing, leadership and innovation to Sony Pictures' "Breaking Bad," Amazon, Content Bridge and Disney. The awards were presented at EMA's Digital Media Pipeline at the Skirball Cultural Center in Los Angeles.
  18. ^ Staff (10 October 2014). "EMA Hands Out Digi Awards to 'Breaking Bad,' Amazon, and More". GamePolitics.com. Archived from the original on 10 October 2014. Retrieved 10 October 2014.
  19. ^ "GoDigital Media Group Fuels Cinq Music With Additional Funding in Series A". PRWeb. Retrieved 2022-05-26.
  20. ^ "AdShare Acquires Primo Media In $3.5 Million Deal". PRWeb. Retrieved 2022-05-26.
  21. ^ "AdShare Launches VidaPrimo.com - Premier Latin Music Platform Rated #4 by comScore". PRWeb. Retrieved 2022-05-26.
  22. ^ Goldfish (2019-06-14). "VidaPrimo Launches Latido Music | Creative Content Wire". Retrieved 2022-05-26.
  23. ^ "No Limit founder Master P joins Cinq Music as President Of Urban Music". Music Business Worldwide. 2017-10-23. Retrieved 2022-05-26.
  24. ^ Rys, Dan (2017-11-09). "Cinq Music Acquires T.I. Catalog, Plans 'Paper Trail' Reissue: Exclusive". Billboard. Retrieved 2022-05-26.
  25. ^ Cobo, Leila (2017-08-11). "Cinq Music to Expand Latin Operation With $20 Million Infusion From GoDigital". Billboard. Retrieved 2022-05-26.
  26. ^ Cobo, Leila (2018-08-16). "Janet Jackson & Her Rhythm Nation Records Partner With Cinq Music For New Indie Release: Exclusive". Billboard. Retrieved 2022-05-26.
  27. ^ "Cinq Music raises another $40m to buy music rights in masters and publishing". Music Business Worldwide. 2019-08-13. Retrieved 2022-05-26.
  28. ^ "Cinq Music Group acquires Beluga Heights label, including Jason Derulo catalog, in eight-figure deal". Music Business Worldwide. 2020-09-04. Retrieved 2022-05-26.
  29. ^ "Latido Networks acquires social media company Mitú". Latido Music. 2020-02-20. Retrieved 2022-05-26.
  30. ^ Randles, Jonathan (10 December 2020). "Bankrupt YogaWorks Nets $9.6 Million Offer for Digital Business". Wall Street Journal. Retrieved 14 January 2022.
  31. ^ "Latido Networks acquires social media company Mitú". Latido Music. 20 February 2020. Retrieved 14 January 2022.
  32. ^ Randles, Jonathan (2020-12-10). "Bankrupt YogaWorks Nets $9.6 Million Offer for Digital Business". Wall Street Journal. ISSN 0099-9660. Retrieved 2022-05-26.
  33. ^ "Give yourself the gift of zen with this YogaWorks subscription". New York Post. 16 December 2021. Retrieved 24 January 2022.
  34. ^ Store, Entrepreneur. "Start Relaxing by Practicing Yoga with YogaWorks". Entrepreneur. Retrieved 24 January 2022.
  35. ^ Eggertsen, Chris (17 September 2021). "Sound Royalties Acquired by GoDigital, MEP Capital in 'High Eight-Figure' Deal". Billboard. Retrieved 14 January 2022.
  36. ^ "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. 13 September 2021. Retrieved 14 January 2022.
  37. ^ "Cinq Music raises $100m from parent GoDigital to buy music rights, expand internationally". Music Business Worldwide. 2022-04-19. Retrieved 2022-06-26.
  38. ^ Ashley Armstrong (ed.). "Frasers sells US discount brands Bob's Stores and Eastern Mountain". The Times. ISSN 0140-0460. Retrieved 2022-05-26.
  39. ^ a b c Blake, Matthew (November 22, 2018). "Digital Domain: GoDigital Media Tracks Where Web Content Used". Los Angeles Business Journal. Retrieved December 23, 2023.
  40. ^ Tencer, Daniel (June 21, 2023). "Cinq Music invests in Street Mob Records, fortifying its position in regional Mexican genre". Music Business Worldwide. Retrieved December 23, 2023.
  41. ^ a b c d Weiss, Geoff (February 21, 2020). "Mitú Acquired By Fellow LatinX Digital Media Purveyor Latido Networks". Tubefilter. Retrieved December 23, 2023.
  42. ^ Ingham, Tim (2022-04-19). "Cinq Music raises $100m from parent GoDigital to buy music rights, expand internationally". Music Business Worldwide. Retrieved 2022-06-26.
  43. ^ Reim, Garrett (July 14, 2015). "Adshare Buys Latin Music YouTube Network". Los Angeles Business Journal. Retrieved December 24, 2023.
  44. ^ Ingham, Tim (September 13, 2021). "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. Retrieved December 23, 2023.
  45. ^ a b Lee, Wendy (August 1, 2022). "John Leguizamo has a plan to grow the Latinx presence in entertainment". Los Angeles Times. Retrieved December 23, 2023.
  46. ^ Sherman, Alex (June 16, 2023). "Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media". CNBC. Retrieved December 23, 2023.
  47. ^ "Home Page". GoDigital Media Group. April 1, 2021. Retrieved December 23, 2023.
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