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Business News Labels & Publishers Management & Funding
Nettwerk secures new funding for growth
By Chris Cooke | Published on Monday 29 April 2013
Canadian music company Nettwerk has raised over $10 million in new financing to fund a new period of growth, which will likely include the acquisition of individual artist catalogues.
The Nettwerk Music Group, which includes a management division, and label and music publishing businesses, previously raised funding from Beedie Capital, used in the main to expand the group’s publishing interests. According to Billboard, the latest round of funding comes from Beedie again, plus HMC Investments and the group’s four founding partners, Terry McBride, Ric Arboit, Dan Fraser and Mark Jowett.
Confirming his firm’s new involvement, HBC Investments’ Peter Brodsky told reporters: “Nettwerk has emerged as a successful and thriving music company that is uniquely positioned to create long-term value in its clients’ musical works and content. The investment comes at the perfect time where the music industry is experiencing a resurgence with explosive growth in monetisation opportunities across diverse worldwide retail and distribution models”.
