Los AngelesCreate Music Group Acquired record label and music publisher in Manchester, UK Austereo.
Founded in 2016 Howard MurphyCreate said Ostereo has “successfully leveraged data analytics” to identify and develop artists from around the world, including Europe, the UK, South Korea, India, Indonesia, the Philippines and more. company Has collaborated with artists including Joel Corey, J.Fla and Shania Yan.
As part of the deal, Murphy will exit the company as well as his long-time partners, Ramin Bostan and Nick Kirkby, Will oversee the day-to-day operations of Ostereo.
The acquisition was made by Create Music Group $165 million Minority investment round led by private equity firm Ford Flexpoint. Music industry veteran Charles Goldstuck also joined the round, and the Flexpoint-led group is understood to have acquired nearly a fifth of Create, MBW reported in June.
A spokesperson confirmed at the time that the investment round was valued at create exist $1 billion.
Founded in 2015, Create a music group It has more than 400 employees worldwide. It operates as a record label, distribution company and entertainment network, generating more than 30 billion Music is played on DSP every month.
Create Music Group said its executive team, led by C.E.O. Jonathan Strausschief operating officer and co-founder Alexander Williams and Senior Vice President of Global Corporate Development and M&A Eric Nguyenwill work closely with the Ostereo team to ensure “seamless integration, prioritizing continuity for artists, partners and employees.”
in addition Ostereo, a subsidiary of Create Includes independent music distribution platform tag engineand flight roomIt is a digital entertainment brand focusing on Generation Z, with more than 300 million fans on social media.
“Howard and his team have built Ostereo into a highly successful music business, and they are exactly the kind of leaders and entrepreneurs who thrive in our ecosystem.”
Jonathan Strauss, Create Music Group
“Howard and his team have built Ostereo into a highly successful music business, and they are exactly the kind of leaders and entrepreneurs who thrive in our ecosystem,” said Create Music Group founder and CEO. Jonathan Strauss.
“We are delighted to welcome Ramin, Nick and the entire Ostereo team to Create and look forward to working with them to create more opportunities for the brand and its incredible artists.”
“Being a part of the Create family of companies gives me the confidence to step away and focus on my next endeavor.”
Howard Murphy
Murphy added: “Over the past decade, we have established Ostereo as a home for incubating and nurturing exciting new artists across multiple genres.
“Being part of the Create family of companies gives me the confidence to step away and focus on my next endeavor. With Ramin and Nick handling things alongside Create’s global experts, I know our artists will thrive.
“This acquisition marks the beginning of an exciting new chapter for Ostereo.”
Ramin Bostan, Ostereo
Ramin Bostan, Chief Operating Officer of Ostereo, said: “This acquisition marks the beginning of an exciting new chapter for Ostereo; we can’t wait to grow our global artist roster by leveraging the expertise and infrastructure of Create, one of the world’s most inspiring artists. One of the music companies.
“While this is the end of an era, the move will bring new opportunities for our artists and staff as we aim to introduce our catalog to new audiences and expand our network.”
Nick Kirby, Austereo
Ostereo chief financial officer Nick Kirby added: “While this is the end of an era, this move will provide new opportunities for our artists and staff as we aim to introduce our catalog to new audiences and expand our network. This is a partnership designed to grow.global music business
