This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
Business News Digital
Beats Music raises new finance
By Chris Cooke | Published on Wednesday 12 March 2014
With the competition to become the world’s market-leading loss-making streaming music service continuing to hot up, Beats Music has raised another round of funding, according to Bloomberg.
Specifics about the latest round of financing aren’t known, but it is thought to provide the standalone Beats streaming business – which last week also acquired the Topspin direct to fan platform – with a further $60 million to $100 million, possibly to fuel global expansion of the late-to-the-party music service, which went live in the US earlier this year.
It is thought the latest funding comes from existing Beats Music backers, which, according to the LA Times, include private equity billionaire Marc Rowan, casino owner James Packer, one of the companies of businessman Lee M Bass and Warner Music owner Access Industries.
