Create Music Group Acquires Minority Stake in DistroKid

Create Music Group has bought a minority stake in DistroKid, as reported by Music Business Worldwide (MBW).

The details:

• MBW reports that Create, which is backed by Flexpoint Ford and Ares, made the investment earlier this year.

• Terms of the investment were not disclosed.

• The investment was made alongside CVC Capital Partners’ deal to acquire a majority stake in DistroKid, which closed in Q3.

• Longterm DistroKid investor Insight Partners retains a “significant” minority stake in the company.

• DistroKid President Phil Bauer continues to lead the business.

What they said:

• Create CEO and Co-Founder Jonathan Strauss, to MBW: “Create is home to some of the world’s largest and most storied independent record labels and artists, and DistroKid is where countless artists begin their careers. We’re excited to partner with CVC as a minority investor in the company and to support its continued growth.”