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Business News Deals Labels & Publishers
Warner Music buys playlist-focused licensing company
By Chris Cooke | Published on Friday 3 June 2016
It’s all about the playlists isn’t it? Ah, I love playlists. Well, I like lists. They can play if they want to. Anyway, Warner Music has bought X5 Music Group, a Swedish company that “specialises in licensing deep catalogue and specific genres of music to create playlists, streaming and download products”. Glorious.
Says X5 co-founder Johan Lagerlöf, who will still run the company: “Our business is to increase the value of catalogue music by putting it in the right context. We are excited to be working with the amazing catalogue of Warner Music Group and look forward to harnessing our scalable business model to increase its value. X5 has helped pioneer the digital music business for more than a decade and now we are bringing our unique expertise and experience to WMG”.
From Warner’s side, the new business partnership will be overseen by President Of Global Catalogue Tim Fraser-Harding, who says: “X5 is an incredibly exciting company that has done great things in the digital space. This team, led by Johan, has an impressive ability to curate specific genres of music and create engaging and accessible digital products and playlists. We hope to help X5 grow its business in the years ahead and believe that we in turn will benefit hugely from its experience”.
