Australia-listed music technology company Vinyl Group, formerly Jaxsta, has signed a strategic partnership with global music licensing company Songtradr.
The agreement, announced Tuesday (October 22), will see Vinyl Group managing Songtradr‘s digital advertising portfolio, further expanding its advertising capabilities.
Under the terms of the agreement, Vinyl Group will integrate Songtradr’s digital advertising inventory into its Vampr Ad Network, increasing its US advertising reach by up to 20-fold. The deal grants Vinyl Group access to Songtradr’s monthly audience of over 20 million unique viewers across its digital platforms, with Vinyl Group set to retain 50% of net proceeds from all business generated through the partnership.
The deal came just over a year after Songtradr became the largest shareholder in Vinyl Group before the latter rebranded from Jaxsta. Songtradr converted its convertible bonds into ordinary shares in Jaxsta, giving it a 14.04% stake.
According to Vinyl Group’s most recent annual report for the fiscal year ended June 30, Songtradr currently holds a 17.41% stake in the company, the second largest shareholder after Realwise Group Holdings, which holds a 30.81% stake.
“This agreement broadens our capabilities and establishes the Vampr Ad Network’s position as a key player in the global music advertising ecosystem.”
Josh Simons, Vinyl GRoup
Songtradr, a B2B music licensing platform, provides rights management and product monetization services to the music industry, serving global digital platforms, gaming companies, brands, and advertisers.
“We are thrilled to be deepening our commercial relationship with Songtradr, accelerating our growth in digital advertising. This agreement broadens our capabilities and establishes the Vampr Ad Network’s position as a key player in the global music advertising ecosystem,” said Josh Simons, CEO of Vinyl Group.
Paul Wiltshire, CEO of Songtradr, added: “Songtradr sees a distinct opportunity for our digital properties to benefit from Vinyl Group’s existing and growing advertising network. We are confident this collaboration will drive significant value for our brands and audiences.”
The agreement comes at a time when digital music advertising is experiencing growth, with companies seeking more ways to reach music industry stakeholders. Vinyl Group’s portfolio of music technology services includes Vinyl.com, an e-commerce platform offering over 50,000 music titles, and Vampr, a networking platform dubbed “LinkedIn for creatives,” which connects 1.4 million creators across 180 countries. Vinyl Group acquired Vampr in February 2023.
“Songtradr sees a distinct opportunity for our digital properties to benefit from Vinyl Group’s existing and growing advertising network.”
Paul Wiltshire, Songtradr
Vinyl Group also owns Jaxsta, a database of official music credits with over 380 million verified entries; Serenade, a Web3 platform specializing in physical and digital collectibles, which Vinyl Group recently acquired, as well as media properties including Mediaweek and The Brag Media, which publishes Rolling Stone AU/NZ and Variety Australia.
The move further strengthens Vinyl Group’s position in the global music industry while providing Songtradr with enhanced advertising capabilities across its digital platforms.
Vinyl Group also acquired events company Funkified Entertainment, which has served as the in-house events arm of Vinyl Group unit The Brag Media since 2021.
The company expanded into online vinyl sales in 2023.
Music Business Worldwide