Business News Labels & Publishers

Symphonic Distribution raises new funding

By | Published on Wednesday 29 November 2017

Symphonic Distribution

Florida-based electronic-music-focussed digital distribution company Symphonic Distribution has announced that it has secured $4 million of new venture capital investment led by Ballast Point Ventures.

“We are excited by the possibilities that BPV’s minority investment provides”, says the company’s founder Jorge Brea. “The Symphonic Distribution team has worked diligently to provide innovative products and superior customer service for our musician and label clients. With this funding, we will be able to attract more top talent and accelerate the development of the Symphonic Distribution platform”.

Ballast Point Ventures’ Robert Faber, who will also now sit on Symphonic board, adds: “Symphonic Distribution’s industry-leading position in digital music distribution is a testament to the vision and platform developed by Jorge Brea and his team over many years. Under Jorge Brea’s leadership, the Symphonic Distribution team has had great success without any outside capital to date and is well positioned for continued growth given the trends in streaming music consumption”.

He added: “We are excited to partner with Symphonic Distribution and to work with Jorge and his dedicated team to continue building a leading technology company in the Tampa Bay region”.

Launched in 2006, Symphonic Distribution currently distributes music from over 11,000 independent labels and musicians, including Marshmello, Waka Flocka Flame and Gravitas Recordings.



READ MORE ABOUT:

GET CMU NEWS BY EMAIL DAILY FIND OUT ABOUT UPCOMING CMU EVENTS