Sonicbids and Billboard to be run out of same company

By | Published on Friday 19 April 2013


Sonicbids is to become part of the same company as US industry trade magazine Billboard, following a restructure of some of the media assets of finance firm Guggenheim, which owns both businesses.

Guggenheim took full control of Billboard publisher Prometheus Global Media back in January, and then acquired Sonicbids – the online network linking artists and gig promoters – the same month, through Prometheus spin-off Backstage, publisher of the entertainment industry trade magazine of the same name. More recently Prometheus took full control of the Backstage company.

In the latest rejig, Billboard, Backstage and Sonicbids will all be run out of one unit, to be called the Billboard Group, and to be headed up by Backstage LLC boss John Amato, with Billboard Editorial Director Bill Werde overseeing content on all three platforms.

Confirming all this, Ross Levinsohn, heading up a Prometheus unit now called Prometheus Guggenheim Digital Media, told reporters: “John Amato has led Backstage to remarkable growth, making it an invaluable resource for performing artists and performing-arts professionals. Bringing these industry-leading brands together will make the group stronger and continue to build on that momentum”.

In other news, the Wall Street Journal has reported that Guggenheim Digital Media is in talks to take a stake, and possibly a controlling stake, in VEVO, the music video service owned by Sony and Universal Music.