June 23, 2024

BEAT Music Fund Announces Major Acquisitions and Joint Venture with Sola Records

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BEAT Music Fund, the dance music investment company launched by Armada Music, has announced significant new acquisitions, including artist shares and songwriter royalties from renowned DJ and producer Jax Jones. In addition, BEAT Music has entered into a new joint venture with UK-based Sola Records.

In a statement released on Tuesday, BEAT Music revealed that it had acquired a portion of Jax Jones’ catalog, including popular tracks “You Don’t Know Me” (with Raye), “Where Did You Go” (feat. MNEK), and “Breathe” (with Ina Wroldsen). These tracks have collectively garnered over 9 billion streams across digital platforms. Jones, a prominent figure in the electronic dance music (EDM) scene since his breakout in 2014, has collaborated with artists such as Duke Dumont, Charli XCX, Tove Lo, Demi Lovato, and Years & Years.

In addition to Jax Jones’ catalog, BEAT Music has acquired shares in notable tracks from Australian singer/songwriter Amba Shepherd. These include collaborations with Hardwell on “Apollo” and “United We Are,” “Smells Like Teen Spirit” with R3HAB, Porter Robinson’s “Vandalism,” and “Heads or Tails” with QUIX. According to BEAT Music, these tracks have nearly 1 billion streams combined on Spotify.

BEAT Music also announced a new joint venture with Sola Records, a UK-based label founded in 2017 by production and DJ duo Solardo. The venture will involve Sola Records working closely with BEAT Music on A&R, label management, distribution, promotion, and marketing. Last year, BEAT acquired Sola’s entire back catalog.

The joint venture will feature artists such as Maur & FABER, Draxx, Majestic, and Solardo.

Since its launch last year, the BEAT Music Fund has significantly increased its investment plans, now intending to spend $500 million over the next five years, up from the original $100 million. The fund has made several high-profile acquisitions, including King Street Sounds, a significant portion of the catalog of UK-based ViVA Music, the master and catalog rights of DJ duo Chocolate Puma, and Dutch label and publisher Cloud 9 Music.

Earlier this year, Armada Music and BEAT Music Fund reorganized under a new parent company, Armada Music Group, which also includes Armada Music Publishing. Armada Music, described as the world’s largest independent dance music label, jointly manages a catalog of more than 50,000 tracks by artists such as Armin van Buuren, Lilly Palmer, D.O.D, Yulia Niko, Loud Luxury, THEMBA, and Sunnery James & Ryan Marciano.

This latest series of acquisitions and the new joint venture underscore BEAT Music Fund’s aggressive strategy to expand its footprint in the dance music industry and bolster its catalog with high-profile and influential tracks and artists.

Kimberly Perez
Lifestyle Desk

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