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 Deals Media
Billboard publisher sells Spin and Stereogum
By Chris Cooke | Published on Tuesday 21 January 2020
Billboard owner Valence Media last week announced that it had sold music websites Spin and Stereogum, the latter being bought back by its founder and editor in chief.
What is now known as Valence Media acquired the two websites in 2016 by buying SpinMedia, an online publisher that was previously known as BuzzMedia.
That company had acquired an assortment of entertainment websites in the preceding decade or so, including Stereogum in 2007 and Spin (then still a print magazine) in 2012, subsequently incorporating the Spin brand into its corporate name.
Since 2016 the two consumer-facing music titles have sat alongside trade magazines Billboard and The Hollywood Reporter. Valence last week said that it was off-loading the websites as part of a new strategic direction for the business, which includes its recent acquisition of data company’s Nielsen’s music products. That said, consumer-facing music site Vibe – which also came to the Valence via its SpinMedia acquisition – will remain part of the group.
Spin has been acquired by private equity outfit Next Management Partners. Its CEO Jimmy Hutcheson said that he was “THRILLED to acquire this legendary music brand … We hope to continue to honour Spin’s heritage of serving up the best and most comprehensive music coverage spanning many genres and delighting audiences with the next big acts in music”.
It’s no secret that trying to make money out of online music journalism remains a challenge. But Hutcheson put a positive, well, spin on owning Spin, saying that his company reckoned the traditional music media brand had a place alongside the Spotifys, YouTubes and TikToks of this world.
“Given the strong heritage and success of the Spin brand”, he added, “we are excited about being a part of Spin’s next chapter and what the future holds. We will have more exciting announcements soon about our growth plans, new hires, and future investments”.
Stereogum will become an independent publication once again following a management buyout led by founder and editor-in-chief Scott Lapatine. He said last week: “It’s been a privilege to watch Stereogum grow over the past eighteen years – the site saw record traffic in 2019 – and I’m THRILLED about our next chapter as an independent, music-only publication”.
