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Business Units

[edit]

Hi. My name is Matthew Metlov and I work for GoDigital Media Group. The current page has a section called "Business Units" that has an out-dated list of businesses and is partially uncited/poorly-cited. Also, the businesses it's listing are subsidiaries, not divisions of the same company as inferred by the "Business Units" language. I'd like to propose replacing that section with the below draft, which is more complete, updated, cited, and adds a few sentences summarizing what the company does. Thank you in advance for taking a look!

Wikicode of proposed draft Subsidiaries section

==Subsidiaries== GoDigital Media Group is a conglomerate that operates a variety of different businesses.<ref name="Sherman 2023 p353">{{cite web | last=Sherman | first=Alex | title=Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media | website=CNBC | date=June 16, 2023 | url=https://www.cnbc.com/2023/06/16/godigital-wants-to-buy-vice-media.html | access-date=December 23, 2023}}</ref> GoDigital Media Group states, the company is focused on "an ecosystem of content, community and commerce."<ref name="p353">{{cite web | last=Sherman | first=Alex | title=Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media | website=CNBC | date=June 16, 2023 | url=https://www.cnbc.com/2023/06/16/godigital-wants-to-buy-vice-media.html | access-date=June 13, 2024}}</ref> It develops digital content through Mitú (targeting [[LatinX]] audiences in the U.S.), YogaWorks (developing Yoga classes with music), and VidaPrimo (a network of YouTube channels targeting hispanic audiences).<ref name=":1">{{Cite web |date=2022-04-19 |title=Cinq Music raises $100m from parent GoDigital to buy music rights, expand internationally |url=https://www.musicbusinessworldwide.com/cinq-music-raises-100m-from-parent-godigital-to-buy-music-rights-expand-internationally/ |access-date=2022-06-26 |website=Music Business Worldwide|first=Tim|last=Ingham }}</ref> It licenses and distributes content through Cinq Music.<ref name=":1" /> It provides financing to artists through Sound Royalties and enforces licensing rights on YouTube through AdShare.<ref name=":1" /> It also owns two retail businesses, Eastern Mountain Sports and Bob's Stores. However, a majority of GDMG's revenues are related to music rights.<ref name="Sherman 2023 p353" /> GoDigital Media Group's subsidiaries include: * '''[[GoDigital|GoDigital]]''' gets a majority of its revenues from purchasing and licensing digital content.<ref name="Los Angeles Business Journal 2018 t626"/> It also facilitates distribution deals with streaming services like [[Netflix]] or [[Hulu]], on behalf of content creators.<ref name="Los Angeles Business Journal 2018 t626"/> It develops and markets software that distributes digital multimedia content, tracks where it's been used, and translates the content for international markets.<ref name="Los Angeles Business Journal 2018 t626">{{cite web | title=Digital Domain: GoDigital Media Tracks Where Web Content Used | website=Los Angeles Business Journal | date=November 22, 2018 | url=https://labusinessjournal.com/media/digital-domain/ | access-date=December 23, 2023|first=Matthew|last=Blake}}</ref> * '''[[Cinq|Cinq Music Group]]''' is a music rights, distribution, and label business focused on Latin and indie music.<ref name="Tencer 2023 j683">{{cite web | last=Tencer | first=Daniel | title=Cinq Music invests in Street Mob Records, fortifying its position in regional Mexican genre | website=Music Business Worldwide | date=June 21, 2023 | url=https://www.musicbusinessworldwide.com/cinq-music-invests-street-mob-records-fortifying-its-position-in-regional-mexican-genre/ | access-date=December 23, 2023}}</ref><ref name="Tubefilter 2020 d020"/> As of 2022, it licenses about 47,000 recordings.<ref name=":1" /> * '''AdShare''' is a digital rights business<ref name="Tubefilter 2020 d020"/> that finds copyrighted audio content being used in third-party YouTube videos without permission.<ref name="Los Angeles Business Journal 2015 x502">{{cite web | title=Adshare Buys Latin Music YouTube Network | website=Los Angeles Business Journal | date=July 14, 2015 | url=https://labusinessjournal.com/technology/adshare-buys-latin-music-youtube-network/ | access-date=December 24, 2023|first=Garrett|last=Reim}}</ref> * '''Sound Royalties''' provides financing to artists in exchange for royalties.<ref name="Ingham 2021 a235">{{cite web | last=Ingham | first=Tim | title=Cinq Music parent GoDigital acquires Sound Royalties in ‘high eight-figure’ deal | website=Music Business Worldwide | date=September 13, 2021 | url=https://www.musicbusinessworldwide.com/cinq-music-parent-godigital-acquires-music-finance-company-sound-royalties-in-high-eight-figure-deal/ | access-date=December 23, 2023}}</ref> '''Networks:''' * '''Latido Music''' creates multimedia content targeting [[Millennials|millennial]] and Gen Z audiences.<ref name="Tubefilter 2020 d020"/> * '''[[Mitú (entertainment)|NGL-mitú]]''' creates digital content intended for the Latino demographic.<ref name="Lee 2022 i743">{{cite web | last=Lee | first=Wendy | title=John Leguizamo has a plan to grow the Latinx presence in entertainment | website=Los Angeles Times | date=August 1, 2022 | url=https://www.latimes.com/entertainment-arts/business/story/2022-08-01/lat-et-ct-digital-media-john-leguizamo-mitu-ngl-collective | access-date=December 23, 2023}}</ref> For example, it creates stories, programs, and documentaries on food and lifestyle topics, as well as branded content.<ref name="Lee 2022 i743" /> * '''[[YogaWorks]]''' is an online yoga service.<ref name="Sherman 2023 p353"/> '''Commerce''': * '''GoDigital Brands''' is the subsidiary that manages GoDigital's commerce brands.<ref>{{cite web | website=GoDigital Media Group | date=April 1, 2021 | url=https://godigitalmg.com/ | title=Home Page|access-date=December 23, 2023}}</ref> * '''[[Bob's Stores]]''' is a retail clothing chain.<ref name="Ryan t944">{{cite web | last=Ryan | first=Thomas J. | title=EXEC: EMS and Bob’s Stores Look to Reignite Growth | website=SGB Media Online | url=https://sgbonline.com/exec-ems-and-bobs-stores-look-to-reignite-growth/ | access-date=December 23, 2023}}</ref> * '''[[Eastern Mountain Sports]]''' is a retail chain for outdoor clothes, equipment, and classes.<ref name="Ryan t944" /> * '''ContentBridge''' is a supply chain software company.<ref name="Tubefilter 2020 d020">{{cite web | title=Mitú Acquired By Fellow LatinX Digital Media Purveyor Latido Networks | website=Tubefilter | date=February 21, 2020 | url=https://www.tubefilter.com/2020/02/21/mitu-acquired-by-latido-networks/ | access-date=December 23, 2023|first=Geoff|last=Weiss}}</ref>

Preview of proposed draft Subsidiaries section

Subsidiaries

GoDigital Media Group is a conglomerate that operates a variety of different businesses.[1] GoDigital Media Group states, the company is focused on "an ecosystem of content, community and commerce."[2] It develops digital content through Mitú (targeting LatinX audiences in the U.S.), YogaWorks (developing Yoga classes with music), and VidaPrimo (a network of YouTube channels targeting hispanic audiences).[3] It licenses and distributes content through Cinq Music.[3] It provides financing to artists through Sound Royalties and enforces licensing rights on YouTube through AdShare.[3] It also owns two retail businesses, Eastern Mountain Sports and Bob's Stores. However, a majority of GDMG's revenues are related to music rights.[1] GoDigital Media Group's subsidiaries include:

  • GoDigital gets a majority of its revenues from purchasing and licensing digital content.[4] It also facilitates distribution deals with streaming services like Netflix or Hulu, on behalf of content creators.[4] It develops and markets software that distributes digital multimedia content, tracks where it's been used, and translates the content for international markets.[4]
  • Cinq Music Group is a music rights, distribution, and label business focused on Latin and indie music.[5][6] As of 2022, it licenses about 47,000 recordings.[3]
  • AdShare is a digital rights business[6] that finds copyrighted audio content being used in third-party YouTube videos without permission.[7]
  • Sound Royalties provides financing to artists in exchange for royalties.[8]

Networks:

  • Latido Music creates multimedia content targeting millennial and Gen Z audiences.[6]
  • NGL-mitú creates digital content intended for the Latino demographic.[9] For example, it creates stories, programs, and documentaries on food and lifestyle topics, as well as branded content.[9]

Commerce:

  • GoDigital Brands is the subsidiary that manages GoDigital's commerce brands.[10]
  • ContentBridge is a supply chain software company.[6]

References

  1. ^ a b c Sherman, Alex (June 16, 2023). "Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media". CNBC. Retrieved December 23, 2023.
  2. ^ Sherman, Alex (June 16, 2023). "Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media". CNBC. Retrieved June 13, 2024.
  3. ^ a b c d 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.
  4. ^ 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.
  5. ^ 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.
  6. ^ a b c d Weiss, Geoff (February 21, 2020). "Mitú Acquired By Fellow LatinX Digital Media Purveyor Latido Networks". Tubefilter. Retrieved December 23, 2023.
  7. ^ Reim, Garrett (July 14, 2015). "Adshare Buys Latin Music YouTube Network". Los Angeles Business Journal. Retrieved December 24, 2023.
  8. ^ Ingham, Tim (September 13, 2021). "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. Retrieved December 23, 2023.
  9. ^ 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.
  10. ^ "Home Page". GoDigital Media Group. April 1, 2021. Retrieved December 23, 2023.
  11. ^ a b Ryan, Thomas J. "EXEC: EMS and Bob's Stores Look to Reignite Growth". SGB Media Online. Retrieved December 23, 2023.
Current content the above is intended to replace for reference

Business Units

Divisions include: Music, Video Networks, and Commerce (named GDMG Brands[1]). Business units within divisions are:

Music:

  • AdShare is a social media (primarily YouTube content) monetization service for entertainment industry rights-holders.[2]
  • Cinq Music is a distributor, label and publisher known for its Hip Hop/R&B repertoire from Jason Derulo, T.I., and Janet Jackson as well as Latin repertoire from Anuel, Bad Bunny, Carin Leon, Natanel Can and others.[3][4]
  • Sound Royalties.[5][6]

Networks:

  • Latido Music as a free ad-supported linear Latin music television channel[7]
  • mitu is a Hispanic targeted multi-platform network
  • YogaWorks is an online subscription Yoga network

Commerce:

  • GoDigital Brands is a vertically integrated brand IP management division of GDMG that manages Eastern Mountain Sports, Bob's Stores, and the soon to launch line of fitness clothing, mats, blocks and straps from YogaWorks.

References

  1. ^ "GoDigital Media Group". GoDigital Media Group. Retrieved 2022-05-26.
  2. ^ Huang, Chun-Ting (6 April 2014). "MCL and AdShare Developed Fast Audio Matching Technology". USC. Archived from the original on 26 September 2014. Retrieved 26 September 2014. The joint R&D team has continuously worked on system performance optimization to meet real-time processing requirements. The team also keeps developing a more advanced technique that handles sounds distorted by other methods such as pitch shifts, white noise, and instrument swaps.
  3. ^ "Cinq Music raises another $40m to buy music rights in masters and publishing". Music Business Worldwide. 13 August 2019. Retrieved 14 January 2022.
  4. ^ "DOUG REINART NAMED COO AMERICAS OF GODIGITAL MEDIA GROUP – Cinq Music | More than music". cinqmusic.com. Archived from the original on 14 January 2022. Retrieved 14 January 2022.
  5. ^ Eggertsen, Chris (17 September 2021). "Sound Royalties Acquired by GoDigital, MEP Capital in 'High Eight-Figure' Deal". Billboard. Retrieved 14 January 2022.
  6. ^ "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. 13 September 2021. Retrieved 14 January 2022.
  7. ^ Goldfish (2019-06-14). "VidaPrimo Launches Latido Music | Creative Content Wire". Retrieved 2022-05-26.

Matthewjmt (talk) 17:21, 26 June 2024 (UTC)[reply]

 Note: There's a lot of promotional language on the page that should be cut down. Go ahead with the edit, minus most of the first paragraph of your proposed edit due to redundancy. Start the edit at "GoDigital Media Group's subsidiaries include:" Likeanechointheforest (talk) 22:40, 1 September 2024 (UTC)[reply]

Proposed History Section

[edit]

Hi. My name is Matthew Metlov and I work for GoDigital Media Group. The current page has a section called "Background" that I feel has various quality issues. Many of the citations are to press releases. It has content like "We have a vision for a billion dollar balance sheet of rights" and features the “Industry Leadership” awards. Some paragraphs are just one sentence long and MOS:LIST discourages lists in articles when paragraph-style prose could be used instead (for the acquisitions).

I've prepared a proposed replacement that uses better citations, full paragraphs, is more complete, and eliminates press releases/awards/promotion. I know it is difficult to compare the proposed draft to the article's current content, but I can't think of a better way to address all of the small issues with each citation or sentence or each individual thing of cited information that could be added. Pinging @Likeanechointheforest: who responded to my prior request. Thanks in advance to any impartial editors who take the time to review the proposed draft. Best regards.


Proposed Draft

Early history

[edit]

GoDigital Media Group was founded by CEO and Chairman Jason Peterson in 2006.[1][2] It started out focused on licensing music rights, before expanding into other areas.[3] In 2008, it created a movie distribution subsidiary called GoDigital.[4] Two years later,[3] it created supply chain software company, ContentBridge.[5] The video business expanded in January 2012, when it acquired video-on-demand business Might Entertainment, adding 700 movie titles to its licensing catalogue.[6] One of GDMG's early projects was for the song Despacito, which led to referrals from other indie artists publishing content on YouTube.[7]

In 2012, the company's music distribution business was renamed Cinq Music.[7] Over time, Cinq also became a music label, creator, and rights management firm.[8] That year, venture capital firm Preferred Ventures purchased a majority interest in the GoDigital subsidiary, for an undisclosed amount.[9] Preferred Ventures then merged GoDigital with Variance Films in January 2014, forming a movie distribution business called Amplify.[10] In 2015, the GoDigital subsidiary acquired independent film-maker Distribber.[11] In 2016, GDMG's AdShare subsidiary acquired Primo Media, a network of YouTube channels for Latin music that also markets music talent to YouTube content creators.[12]

In 2017, GDMG created Latido Music as an ad-supported Latin music TV channel.[13] Initially, GDMG's business was heavily focused on Latin music.[7] By 2018, it had 50 million listeners monthly, most of whom were from Latin American countries.[7] In 2017, it invested $20 million into its Cinq subsidiary to expand to other genres.[14][15] Its first major non-Latin project was in 2018, when the Cinq subsidiary recorded and distributed an album for Janet Jackson.[7] It also purchased Warner Music Group's music rights in songs from rapper T.I.,[16] using half of $20 million in funding provided by the parent company GDMG.[17] At the time, it was GDMG's largest acquisition.[18]

GDMG invested another $40 million into Cinq to acquire additional licensing rights in 2019.[19] That investment was subsequently used to purchased the Beluga Heights Record Label including the right to songs by Sean Kingston and Jason Derulo.[17][18] Latido Music acquired competing latin music business Mitú in February 2020,[5] which was later merged with NGL Collective.[20]

Recent history

[edit]

During the COVID-19 pandemic, GoDigital Media Group shut down its headquarters in Los Angeles, California and transitioned to a remote workforce.[3] It acquired eight businesses from 2020 - 2023.[3] In 2021, GoDigital partnered with MEP Capital Management to purchase YogaWorks, in a Chapter 11 bankruptcy auction, for $9.6 million.[21] YogaWorks had closed its physical Yoga studios due to the COVID-19 pandemic. GDMG converted it into an online subscription service.[3] In 2023, YogaWorks introduced a fitness program intended for users with breast cancer in partnerships with celebrity Samantha Harris.[22][23] GDMG also acquired Sound Royalties, which provides advances to artists in exchange for royalties in their music.[24][25]

In 2022, GDMG invested another $100 million into its Cinq Music subsidiary.[26] That same year, it acquired retailers Eastern Mountain Sports (EMS) and Bob's Stores from U.K.-based Frasers Group for $70 million.[3][27] EMS and Bob's Stores had physical stores, whereas GDMG had historically focused on IP rights management, content, and services.[28] Under its new owner, Eastern Mountain Sports made a series of ads making fun of its prior financial troubles and bankruptcy.[29] In June 2023, GoDigital said it would be bidding on acquiring Vice, which was in bankruptcy.[3] However, Vice selected a competing bid from Fortress Investment Group.[30]

In February 2024, GoDigital Media Group invested another $250 million into its Cinq subsidiary, to fund the purchase of more rights in music.[31]

References

  1. ^ 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.
  2. ^ Blake, Matthew (November 22, 2018). "Digital Domain: GoDigital Media Tracks Where Web Content Used". Los Angeles Business Journal. Retrieved December 23, 2023.
  3. ^ a b c d e f g Sherman, Alex (June 16, 2023). "Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media". CNBC. Retrieved December 23, 2023.
  4. ^ 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.
  5. ^ a b Weiss, Geoff (February 21, 2020). "Mitú Acquired By Fellow LatinX Digital Media Purveyor Latido Networks". Tubefilter. Retrieved December 23, 2023.
  6. ^ Miller, Daniel (2012-01-10). "GoDigital Distributor Acquires VOD Firm Might Entertainment". The Hollywood Reporter. Retrieved 2022-05-26.
  7. ^ a b c d e Cobo, Leila; Cobo, Leila (August 24, 2018). "How a Latin Music Startup Landed Janet Jackson, As Other Distributors Broaden Their Horizons". Billboard. Retrieved December 23, 2023.
  8. ^ Cobo, Leila (2017-08-11). "Cinq Music to Expand Latin Operation With $20 Million Infusion From GoDigital". Billboard. Retrieved 2022-05-26.
  9. ^ Kay, Jeremy (August 2, 2012). "Preferred Ventures buys into digital distributor GoDigital". Screen. Retrieved 2022-05-26.
  10. ^ Kit, Borys (2014-01-15). "GoDigital and Variance Films Merge to Form Amplify". The Hollywood Reporter. Retrieved 2022-05-26.
  11. ^ Cunningham, Todd (January 26, 2016). "Nick Soares Takes Over as GoDigital CEO". TheWrap. Retrieved December 23, 2023.
  12. ^ Reim, Garrett (July 14, 2015). "Adshare Buys Latin Music YouTube Network". Los Angeles Business Journal. Retrieved December 24, 2023.
  13. ^ Cobo, Leila (June 13, 2019). "VidaPrimo Launches 24/7 Latin Music Network Latido". Billboard. Retrieved December 23, 2023.
  14. ^ "No Limit founder Master P joins Cinq Music as President Of Urban Music". Music Business Worldwide. 2017-10-23. Retrieved 2022-05-26.
  15. ^ Rys, Dan (October 18, 2017). "Master P Named President of Urban Music at Cinq Music: Exclusive". Billboard. Retrieved December 23, 2023.
  16. ^ Rys, Dan (2017-11-09). "Cinq Music Acquires T.I. Catalog, Plans 'Paper Trail' Reissue: Exclusive". Billboard. Retrieved 2022-05-26.
  17. ^ a b Ingham, Tim (September 13, 2021). "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. Retrieved December 23, 2023.
  18. ^ a b Ingham, Tim (2020-09-04). "Cinq Music Group acquires Beluga Heights label, including Jason Derulo catalog, in eight-figure deal". Music Business Worldwide. Retrieved 2022-05-26.
  19. ^ Ingham, Tim (2019-08-13). "Cinq Music raises another $40m to buy music rights in masters and publishing". Music Business Worldwide. Retrieved 2022-05-26.
  20. ^ Lee, Wendy (August 1, 2022). "John Leguizamo has a plan to grow the Latinx presence in entertainment". Los Angeles Times. Retrieved December 23, 2023.
  21. ^ Ingham, Tim (19 May 2021). "GoDigital's Jason Peterson: 'We have a vision for a billion-dollar balance sheet of music rights.'". Music Business Worldwide. Retrieved 14 January 2022.
  22. ^ Sullivan, Marisa (January 18, 2023). "Samantha Harris Was Misdiagnosed for Months After Her Mammogram Came Back Clear: 'It Was Breast Cancer'". Peoplemag. Retrieved June 13, 2024.
  23. ^ "YogaWorks Pink for the breast cancer community". YouTube / Good Morning America. March 6, 2024. Retrieved June 13, 2024.
  24. ^ Eggertsen, Chris (17 September 2021). "Sound Royalties Acquired by GoDigital, MEP Capital in 'High Eight-Figure' Deal". Billboard. Retrieved 14 January 2022.
  25. ^ Inghma, Tim (13 September 2021). "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. Retrieved 14 January 2022.
  26. ^ 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.
  27. ^ Ashley Armstrong (ed.). "Frasers sells US discount brands Bob's Stores and Eastern Mountain". The Times. ISSN 0140-0460. Retrieved 2022-05-26.
  28. ^ Kozlowski, Denise (June 6, 2022). "GoDigital Takes Big Stake in Retail World". Los Angeles Business Journal. Retrieved December 23, 2023.
  29. ^ Nudd, Tim (October 17, 2023). "Eastern Mountain Sports has a Chuckle About its Past Woes in Irreverent Campaign from Slap Global". AdAge.
  30. ^ Maas, Jennifer; Maas, Jennifer (June 22, 2023). "Vice Media to Be Acquired by Fortress Investment Group". Variety. Retrieved December 24, 2023.
  31. ^ Steele, Anne (February 15, 2024). "Rod Stewart Sells Song Catalog as Music-Rights Fundraising Surges; Investors pour billions of dollars into companies pursuing music-rights deals". The Wall Street Journal.
Wikicode

=== Early history === GoDigital Media Group was founded by CEO and Chairman Jason Peterson in 2006.<ref name="Tencer 2023 j683">{{cite web | last=Tencer | first=Daniel | title=Cinq Music invests in Street Mob Records, fortifying its position in regional Mexican genre | website=Music Business Worldwide | date=June 21, 2023 | url=https://www.musicbusinessworldwide.com/cinq-music-invests-street-mob-records-fortifying-its-position-in-regional-mexican-genre/ | access-date=December 23, 2023}}</ref><ref name="Los Angeles Business Journal 2018 t626">{{cite web | title=Digital Domain: GoDigital Media Tracks Where Web Content Used | website=Los Angeles Business Journal | date=November 22, 2018 | url=https://labusinessjournal.com/media/digital-domain/ | access-date=December 23, 2023|first=Matthew|last=Blake}}</ref> It started out focused on licensing music rights, before expanding into other areas.<ref name="Sherman 2023 p353">{{cite web | last=Sherman | first=Alex | title=Meet GoDigital, the happiness-obsessed company that wants to buy Vice Media | website=CNBC | date=June 16, 2023 | url=https://www.cnbc.com/2023/06/16/godigital-wants-to-buy-vice-media.html | access-date=December 23, 2023}}</ref> In 2008, it created a movie distribution subsidiary called [[GoDigital]].<ref name="blogs.wsj">{{cite news|last=Kung|first=Michelle|title=GoDigital Ramps Up Digital Distribution Plans|url=https://blogs.wsj.com/speakeasy/2012/01/11/godigital-ramps-up-digital-distribution-plans/|access-date=22 April 2013|newspaper=The Wall Street Journal|date=11 January 2012|archive-date=9 December 2014|archive-url=https://web.archive.org/web/20141209200009/https://blogs.wsj.com/speakeasy/2012/01/11/godigital-ramps-up-digital-distribution-plans/}}</ref> Two years later,<ref name="Sherman 2023 p353" /> it created supply chain software company, ContentBridge.<ref name="Tubefilter 2020 d020">{{cite web | title=Mitú Acquired By Fellow LatinX Digital Media Purveyor Latido Networks | website=Tubefilter | date=February 21, 2020 | url=https://www.tubefilter.com/2020/02/21/mitu-acquired-by-latido-networks/ | access-date=December 23, 2023|first=Geoff|last=Weiss}}</ref> The video business expanded in January 2012, when it acquired video-on-demand business Might Entertainment, adding 700 movie titles to its licensing catalogue.<ref>{{Cite web |last=Miller |first=Daniel |date=2012-01-10 |title=GoDigital Distributor Acquires VOD Firm Might Entertainment |url=https://www.hollywoodreporter.com/business/business-news/godigital-might-entertainment-vod-firm-280024/ |access-date=2022-05-26 |website=The Hollywood Reporter |language=en-US}}</ref> One of GDMG's early projects was for the song [[Despacito]], which led to referrals from other indie artists publishing content on [[YouTube]].<ref name="Cobo Cobo 2018 r529" /> In 2012, the company's music distribution business was renamed [[Cinq Music Group|Cinq Music]].<ref name="Cobo Cobo 2018 r529">{{cite web | last=Cobo | first=Leila | last2=Cobo | first2=Leila | title=How a Latin Music Startup Landed Janet Jackson, As Other Distributors Broaden Their Horizons | website=Billboard | date=August 24, 2018 | url=https://www.billboard.com/music/music-news/how-latin-music-startup-landed-janet-jackson-distributors-broaden-horizons-8472067/ | access-date=December 23, 2023}}</ref> Over time, Cinq also became a music label, creator, and rights management firm.<ref>{{Cite magazine |last=Cobo |first=Leila |date=2017-08-11 |title=Cinq Music to Expand Latin Operation With $20 Million Infusion From GoDigital |url=https://www.billboard.com/pro/cinq-music-to-expand-latin-operation-with-20-million-infusion-from/ |access-date=2022-05-26 |magazine=Billboard}}</ref> That year, venture capital firm Preferred Ventures purchased a majority interest in the [[GoDigital]] subsidiary, for an undisclosed amount.<ref>{{Cite web |date=August 2, 2012|last=Kay |first=Jeremy |title=Preferred Ventures buys into digital distributor GoDigital |url=https://www.screendaily.com/preferred-ventures-buys-into-digital-distributor-godigital-/5044983.article |access-date=2022-05-26 |website=Screen |language=en}}</ref> Preferred Ventures then merged GoDigital with [[Variance Films]] in January 2014, forming a movie distribution business called [[Amplify (distributor)|Amplify]].<ref>{{Cite web |last=Kit |first=Borys |date=2014-01-15 |title=GoDigital and Variance Films Merge to Form Amplify |url=https://www.hollywoodreporter.com/business/business-news/godigital-variance-films-merge-form-671282/ |access-date=2022-05-26 |website=The Hollywood Reporter |language=en-US}}</ref> In 2015, the GoDigital subsidiary acquired independent film-maker [[Distribber]].<ref name="Cunningham 2016 b577">{{cite web | last=Cunningham | first=Todd | title=Nick Soares Takes Over as GoDigital CEO | website=TheWrap | date=January 26, 2016 | url=https://www.thewrap.com/nick-soares-takes-over-as-godigital-ceo/ | access-date=December 23, 2023}}</ref> In 2016, GDMG's AdShare subsidiary acquired Primo Media, a network of YouTube channels for Latin music that also markets music talent to YouTube content creators.<ref name="Los Angeles Business Journal 2015 x502">{{cite web | title=Adshare Buys Latin Music YouTube Network | website=Los Angeles Business Journal | date=July 14, 2015 | url=https://labusinessjournal.com/technology/adshare-buys-latin-music-youtube-network/ | access-date=December 24, 2023|first=Garrett|last=Reim}}</ref> In 2017, GDMG created Latido Music as an ad-supported Latin music TV channel.<ref name="Cobo Cobo 2019 g709">{{cite web | last=Cobo | first=Leila| title=VidaPrimo Launches 24/7 Latin Music Network Latido | website=Billboard | date=June 13, 2019 | url=https://www.billboard.com/pro/vidaprimo-launches-latin-music-network-latido/ | access-date=December 23, 2023}}</ref> Initially, GDMG's business was heavily focused on Latin music.<ref name="Cobo Cobo 2018 r529" /> By 2018, it had 50 million listeners monthly, most of whom were from [[Latin America|Latin American countries]].<ref name="Cobo Cobo 2018 r529" /> In 2017, it invested $20 million into its Cinq subsidiary to expand to other genres.<ref>{{Cite web |date=2017-10-23 |title=No Limit founder Master P joins Cinq Music as President Of Urban Music |url=https://www.musicbusinessworldwide.com/no-limit-founder-master-p-joins-cinq-music-president-urban-music/ |access-date=2022-05-26 |website=Music Business Worldwide }}</ref><ref name="Rys Rys 2017 q170">{{cite web | last=Rys | first=Dan | title=Master P Named President of Urban Music at Cinq Music: Exclusive | website=Billboard | date=October 18, 2017 | url=https://www.billboard.com/pro/master-p-president-urban-music-cinq-music/ | access-date=December 23, 2023}}</ref> Its first major non-Latin project was in 2018, when the Cinq subsidiary recorded and distributed an album for [[Janet Jackson]].<ref name="Cobo Cobo 2018 r529" /> It also purchased [[Warner Music Group]]'s music rights in songs from rapper [[T.I.]],<ref>{{Cite magazine |last=Rys |first=Dan |date=2017-11-09 |title=Cinq Music Acquires T.I. Catalog, Plans 'Paper Trail' Reissue: Exclusive |url=https://www.billboard.com/music/rb-hip-hop/cinq-music-acquires-ti-catalog-greatest-hits-album-exclusive-8031071/ |access-date=2022-05-26 |magazine=Billboard }}</ref> using half of $20 million in funding provided by the parent company GDMG.<ref name="Ingham 2021 a235">{{cite web | last=Ingham | first=Tim | title=Cinq Music parent GoDigital acquires Sound Royalties in ‘high eight-figure’ deal | website=Music Business Worldwide | date=September 13, 2021 | url=https://www.musicbusinessworldwide.com/cinq-music-parent-godigital-acquires-music-finance-company-sound-royalties-in-high-eight-figure-deal/ | access-date=December 23, 2023}}</ref> At the time, it was GDMG's largest acquisition.<ref name=":0">{{Cite web |date=2020-09-04 |title=Cinq Music Group acquires Beluga Heights label, including Jason Derulo catalog, in eight-figure deal |url=https://www.musicbusinessworldwide.com/cinq-music-group-acquires-beluga-heights-including-jason-derulo-catalog-in-eight-figure-deal/ |access-date=2022-05-26 |website=Music Business Worldwide|first=Tim|last=Ingham }}</ref> GDMG invested another $40 million into Cinq to acquire additional licensing rights in 2019.<ref>{{Cite web |date=2019-08-13 |title=Cinq Music raises another $40m to buy music rights in masters and publishing |first=Tim|last=Ingham|url=https://www.musicbusinessworldwide.com/cinq-music-raises-another-40m-to-buy-music-rights-in-masters-and-publishing/ |access-date=2022-05-26 |website=Music Business Worldwide }}</ref> That investment was subsequently used to purchased the [[Beluga Heights Records|Beluga Heights Record Label]] including the right to songs by [[Sean Kingston]] and [[Jason Derulo]].<ref name="Ingham 2021 a235" /><ref name=":0" /> Latido Music acquired competing latin music business Mitú in February 2020,<ref name="Tubefilter 2020 d020" /> which was later merged with NGL Collective.<ref name="Lee 2022 i743">{{cite web | last=Lee | first=Wendy | title=John Leguizamo has a plan to grow the Latinx presence in entertainment | website=Los Angeles Times | date=August 1, 2022 | url=https://www.latimes.com/entertainment-arts/business/story/2022-08-01/lat-et-ct-digital-media-john-leguizamo-mitu-ngl-collective | access-date=December 23, 2023}}</ref> === Recent history === During the [[COVID-19 pandemic]], GoDigital Media Group shut down its headquarters in [[Los Angeles, California]] and transitioned to a remote workforce.<ref name="Sherman 2023 p353" /> It acquired eight businesses from 2020 - 2023.<ref name="Sherman 2023 p353" /> In 2021, GoDigital partnered with MEP Capital Management to purchase YogaWorks, in a [[Chapter 11, Title 11, United States Code|Chapter 11]] bankruptcy auction, for $9.6 million.<ref name="Music Business Worldwide">{{cite news |date=19 May 2021 |title=GoDigital's Jason Peterson: 'We have a vision for a billion-dollar balance sheet of music rights.' |work=Music Business Worldwide |url=https://www.musicbusinessworldwide.com/jason-peterson-godigital-cinq-we-have-a-vision-for-a-billion-dollar-balance-sheet-of-music-rights/ |access-date=14 January 2022|first=Tim|last=Ingham}}</ref> YogaWorks had closed its physical Yoga studios due to the [[COVID-19 pandemic]]. GDMG converted it into an online subscription service.<ref name="Sherman 2023 p353" /> In 2023, YogaWorks introduced a fitness program intended for users with breast cancer in partnerships with celebrity [[Samantha Harris]].<ref name="i615">{{cite web | last=Sullivan | first=Marisa | title=Samantha Harris Was Misdiagnosed for Months After Her Mammogram Came Back Clear: 'It Was Breast Cancer' | website=Peoplemag | date=January 18, 2023 | url=https://people.com/health/samantha-harris-misdiagnosed-breast-cancer-yoga-works-susan-g-komen-restorative-fitness/ | access-date=June 13, 2024}}</ref><ref name="x517">{{cite web | title=YogaWorks Pink for the breast cancer community | website=YouTube / Good Morning America| date=March 6, 2024 | url=https://www.youtube.com/watch?v=T2TYtwDWWAU | access-date=June 13, 2024}}</ref> GDMG also acquired Sound Royalties, which provides advances to artists in exchange for royalties in their music.<ref name="bb">{{cite magazine |last1=Eggertsen |first1=Chris |date=17 September 2021 |title=Sound Royalties Acquired by GoDigital, MEP Capital in 'High Eight-Figure' Deal |url=https://www.billboard.com/music/music-news/sound-royalties-acquired-godigital-mep-capital-9632274/ |magazine=Billboard |access-date=14 January 2022}}</ref><ref name="mw">{{cite news |date=13 September 2021 |title=Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal |work=Music Business Worldwide |url=https://www.musicbusinessworldwide.com/cinq-music-parent-godigital-acquires-music-finance-company-sound-royalties-in-high-eight-figure-deal/ |access-date=14 January 2022|first=Tim|last=Inghma}}</ref> In 2022, GDMG invested another $100 million into its Cinq Music subsidiary.<ref name=":1">{{Cite web |date=2022-04-19 |title=Cinq Music raises $100m from parent GoDigital to buy music rights, expand internationally |url=https://www.musicbusinessworldwide.com/cinq-music-raises-100m-from-parent-godigital-to-buy-music-rights-expand-internationally/ |access-date=2022-06-26 |website=Music Business Worldwide|first=Tim|last=Ingham }}</ref> That same year, it acquired retailers [[Eastern Mountain Sports]] (EMS) and [[Bob's Stores]] from U.K.-based [[Frasers Group]] for $70 million.<ref name="Sherman 2023 p353" /><ref>{{Cite news |editor=Ashley Armstrong |title=Frasers sells US discount brands Bob's Stores and Eastern Mountain |newspaper=[[The Times]] |url=https://www.thetimes.co.uk/article/frasers-sells-us-discount-brands-bobs-stores-and-eastern-mountain-pksdkkcm2 |access-date=2022-05-26 |issn=0140-0460}}</ref> EMS and Bob's Stores had physical stores, whereas GDMG had historically focused on IP rights management, content, and services.<ref name="Kozlowski 2022 e689">{{cite web | last=Kozlowski | first=Denise | title=GoDigital Takes Big Stake in Retail World | website=Los Angeles Business Journal | date=June 6, 2022 | url=https://labusinessjournal.com/technology/software/godigital-takes-big-stake-in-retail-world/ | access-date=December 23, 2023}}</ref> Under its new owner, Eastern Mountain Sports made a series of ads making fun of its prior financial troubles and bankruptcy.<ref>{{cite news|title=Eastern Mountain Sports has a Chuckle About its Past Woes in Irreverent Campaign from Slap Global|newspaper=AdAge|first=Tim|last=Nudd|date=October 17, 2023}}</ref> In June 2023, GoDigital said it would be bidding on acquiring Vice, which was in bankruptcy.<ref name="Sherman 2023 p353" /> However, Vice selected a competing bid from Fortress Investment Group.<ref name="Maas Maas 2023 k072">{{cite web | last=Maas | first=Jennifer | last2=Maas | first2=Jennifer | title=Vice Media to Be Acquired by Fortress Investment Group | website=Variety | date=June 22, 2023 | url=https://variety.com/2023/tv/news/vice-media-sells-fortress-investment-group-1235652034/ | access-date=December 24, 2023}}</ref> In February 2024, GoDigital Media Group invested another $250 million into its Cinq subsidiary, to fund the purchase of more rights in music.<ref>{{cite news|title=Rod Stewart Sells Song Catalog as Music-Rights Fundraising Surges; Investors pour billions of dollars into companies pursuing music-rights deals|first=Anne|last=Steele|newspaper=The Wall Street Journal|date=February 15, 2024}}</reF>

Current Content

Background GoDigital Media Group was founded by CEO and Chairman Jason Peterson in 2006 as a digital music distributor.[1][2][3]

In 2007 GDMG created a division named AdShare, the first social media monetization business identifying, tracking, and monetizing rights on YouTube.[4][5]

In 2008, Peterson and GDMG created a digital video division eponymously named GoDigital, inc, that specialized in digital movie distribution.[6] In January 2012, GoDigital, inc acquired Might Entertainment for its 800 film catalog creating a combined company with over 1,100 titles.[7] In August, 2012 GoDigital, Inc. was majority sold to Preferred Ventures who made a control investment.[8] Preferred Ventures then merged GoDigital inc with Variance Films in January 2014, forming a new theatrical movie distribution entity, Amplify.[9][10]

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.[11][12][13] 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.[14][15]

In 2012, GDMG's music distribution business was rebranded Cinq Music and the mandate was broadened to include distribution, publishing and record label activities.[16]

In 2016, GDMG's AdShare unit acquired Primo Media to create VidaPrimo, the then largest Latin music only multi-channel network.[17][18]

In 2017, GDMG created Latido Music as a free ad-supported linear Latin music television channel[19]

Acquisitions and growth Starting in 2017:

  • GDMG invested $20 million into its Cinq Music division, hired rap mogul Master P to be President of Urban Music[20] and acquired 3x Grammy Award-winning rapper T.I.'s catalog from Warner Music Group.[21][22]

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.[24]

In 2020:

  • Cinq Music acquired the Beluga Heights Record Label including the catalogs of Sean Kingston and Jason Derulo for an eight figure sum.[25]
  • 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.[26][27] With mitu, GoDigital and its business units have access to A-level content production.[28][29]

In 2021:

  • GDMG bought YogaWorks, the largest Yoga studio business in the U.S., out of COVID- induced bankruptcy.[30] The company purchased YogaWorks to transform the business model into a digital first subscription based business for health, wellness and longevity.[31][32]
  • GDMG and MEP Capital (“MEP”) acquired Sound Royalties for high eight figures.[33][34] 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.[29]

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.[35]
  • 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.[36]

References

  1. ^ Cite error: The named reference GoDigital Music History was invoked but never defined (see the help page).
  2. ^ Cite error: The named reference Mulvey Screen Daily was invoked but never defined (see the help page).
  3. ^ Cite error: The named reference Symbolic Entertainment was invoked but never defined (see the help page).
  4. ^ "Good Questions...with Cameron Dole". Listen Notes. Retrieved 2022-05-26.
  5. ^ "5-17-22 The Songwriter Show Jason Peterson - The Songwriter Show (podcast)". Listen Notes. 17 May 2022. Retrieved 2022-05-26.
  6. ^ Cite error: The named reference blogs.wsj was invoked but never defined (see the help page).
  7. ^ Miller, Daniel (2012-01-10). "GoDigital Distributor Acquires VOD Firm Might Entertainment". The Hollywood Reporter. Retrieved 2022-05-26.
  8. ^ 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)
  9. ^ Kit, Borys (2014-01-15). "GoDigital and Variance Films Merge to Form Amplify". The Hollywood Reporter. Retrieved 2022-05-26.
  10. ^ Fleming, Mike Jr. (2012-08-02). "Preferred Ventures Invests In GoDigital". Deadline. Retrieved 2022-05-26.
  11. ^ Cite error: The named reference Reuters GoDigital CEO was invoked but never defined (see the help page).
  12. ^ News, MESA (2016-02-09). "ContentBridge Develops Automated Delivery Channel for Proximus TV and Studio 100". Media & Entertainment Services Alliance. Retrieved 2022-05-26. {{cite web}}: |last= has generic name (help)
  13. ^ "ContentBridge Helps Studio 100 Make The Big Move". PRWeb. Retrieved 2022-05-26.
  14. ^ Cite error: The named reference HomeMedia Digi was invoked but never defined (see the help page).
  15. ^ Cite error: The named reference GamePol Digi was invoked but never defined (see the help page).
  16. ^ "GoDigital Media Group Fuels Cinq Music With Additional Funding in Series A". PRWeb. Retrieved 2022-05-26.
  17. ^ "AdShare Acquires Primo Media In $3.5 Million Deal". PRWeb. Retrieved 2022-05-26.
  18. ^ "AdShare Launches VidaPrimo.com - Premier Latin Music Platform Rated #4 by comScore". PRWeb. Retrieved 2022-05-26.
  19. ^ Goldfish (2019-06-14). "VidaPrimo Launches Latido Music | Creative Content Wire". Retrieved 2022-05-26.
  20. ^ "No Limit founder Master P joins Cinq Music as President Of Urban Music". Music Business Worldwide. 2017-10-23. Retrieved 2022-05-26.
  21. ^ Rys, Dan (2017-11-09). "Cinq Music Acquires T.I. Catalog, Plans 'Paper Trail' Reissue: Exclusive". Billboard. Retrieved 2022-05-26.
  22. ^ Cobo, Leila (2017-08-11). "Cinq Music to Expand Latin Operation With $20 Million Infusion From GoDigital". Billboard. Retrieved 2022-05-26.
  23. ^ 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.
  24. ^ "Cinq Music raises another $40m to buy music rights in masters and publishing". Music Business Worldwide. 2019-08-13. Retrieved 2022-05-26.
  25. ^ "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.
  26. ^ "Latido Networks acquires social media company Mitú". Latido Music. 2020-02-20. Retrieved 2022-05-26.
  27. ^ Randles, Jonathan (10 December 2020). "Bankrupt YogaWorks Nets $9.6 Million Offer for Digital Business". Wall Street Journal. Retrieved 14 January 2022.
  28. ^ "Latido Networks acquires social media company Mitú". Latido Music. 20 February 2020. Retrieved 14 January 2022.
  29. ^ a b Cite error: The named reference Music Business Worldwide was invoked but never defined (see the help page).
  30. ^ 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.
  31. ^ "Give yourself the gift of zen with this YogaWorks subscription". New York Post. 16 December 2021. Retrieved 24 January 2022.
  32. ^ Store, Entrepreneur. "Start Relaxing by Practicing Yoga with YogaWorks". Entrepreneur. Retrieved 24 January 2022.
  33. ^ Eggertsen, Chris (17 September 2021). "Sound Royalties Acquired by GoDigital, MEP Capital in 'High Eight-Figure' Deal". Billboard. Retrieved 14 January 2022.
  34. ^ "Cinq Music parent GoDigital acquires Sound Royalties in 'high eight-figure' deal". Music Business Worldwide. 13 September 2021. Retrieved 14 January 2022.
  35. ^ "Cinq Music raises $100m from parent GoDigital to buy music rights, expand internationally". Music Business Worldwide. 2022-04-19. Retrieved 2022-06-26.
  36. ^ Ashley Armstrong (ed.). "Frasers sells US discount brands Bob's Stores and Eastern Mountain". The Times. ISSN 0140-0460. Retrieved 2022-05-26.

Matthewjmt (talk) 21:17, 24 September 2024 (UTC)[reply]

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