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The recorded industry giant has pumped a six-figure sum into Berlin-based start-up Gigmit in a deal it says will lead to "artistic success and economic growth" for both
By IQ on 25 Oct 2016
Sony Music Entertainment, one of the ‘big three’ record labels, has expanded its presence in the live industry with a six-figure investment in online talent booking platform Gigmit.
The Berlin-based start-up – effectively a digital booking agency with more than 40,000 artists available monthly to venues and promoters – has since its founding in 2012 processed close to €5 million in offers and supplied acts to Melt! Booking and the Sziget and Deichbrand festivals, among others..
Marcus Rüssel, Gigmit’s CEO, says: “I’m really happy as strong a partner as Sony Music by our side. This is our biggest deal to date.
“The Gigmit business model and our expertise in developing new talent sustainably are a perfect match”
“Through the effective use of synergies, Gigmit will be able to refine its content, which in turn will allow us to strengthen our position and increase our influence in the German-speaking market.”
Philip Ginthör, CEO of Sony Music GSA (Germany, Switzerland and Austria), adds: “The Gigmit business model and our expertise in developing new talent sustainably are a perfect match. Through this partnership we will generate both artistic success and economic growth. We are really looking forward to working with Marcus and his team.”
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