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Business News Deals Labels & Publishers
Utopia Music buys ROSTR and ForTunes
By Chris Cooke | Published on Friday 10 December 2021
The super acquisitive Utopia Music is, well, still super acquisitive, buying two companies in order to launch a creator services division. The latest buys are music industry directory ROSTR and data analytics platform ForTunes.
Utopia has made much about its ambition to help sort out the music industry’s rights data issues so to enable artists and songwriters to more effectively manage their rights and royalties.
Though with the latest acquisitions and new division, the company is also seemingly seeking to help artists and their business partners to manage and analyse fan data too, so that they can – and I quote – “understand their audience and find monetisation opportunities for their creative rights and other endeavours”.
Confirming all this, Utopia COO Roberto Neri says: “We are THRILLED to launch an entirely new business unit focused on helping creators grow into their full potential. By providing creators with the right tools, data, and eliminating roadblocks we can help them elevate their revenues and find new ways to strengthen their careers”.
“ROSTR and ForTunes are two key players in the industry that, just like Utopia, believe in transparency and fairness, and have the technology, vision, and drive to lead the way with us”, he adds. “These acquisitions open a whole new chapter for Utopia, and we could not be more excited about the future”.
The new creator services division will be headed up by ROSTR founder and former Spotify exec Mark Williamson. He says: “We started ROSTR because we believed that technology and data could help create a more efficient and fairer music industry. With Utopia and the creator services unit, we get to supercharge these efforts on a joint mission that will positively impact creators and the industry as a whole”.
Other companies bought by Utopia in recent months include music industry focused financial services business Lyric Financial and Quincy Jones-backed music metadata set-up Musimap.
