Armada Music launches first-ever dance music investment company, BEAT Music Fund
“It’s a privilege to be working with the tracks that sparked my passion for dance music at an early age,” says CEO of Armada Music, Maykel Piron
Electronic record label Armada Music has launched the first ever dance music investment company, named the BEAT Music Fund.
The music fund was created by CEO of Armada Music, Maykel Piron, as an artist-friendly vehicle to unlock value from recordings and copyrights within the dance arena.
BEAT, meaning best ever acquired tracks, has been backed by US based financial services firm, Pinnacle Financial Partners.
According to Armada Music – originally set up by trance artist Armin Van Buuren – BEAT intends to invest $100 million in its first two years, with the mission of acquiring and exploiting recording and music publishing catalogues.
The company’s first acquisitions include KMS Records’ master recordings catalogue from house and techno legend Kevin Saunderson, and the acquisition of the master and publishing catalogue of ARTY. Both catalogues of masters will be globally distributed by Armada Music (Armada Distribution B.V.).
Armada Music stress that BEAT plans to grow its investment to at least $500 million in coming years.
“It’s a privilege to be working with the tracks that sparked my passion for dance music at an early age,” says Piron.
“That passion is still there, and it’s incredibly rewarding to bolster the legacy of major dance hits such as Joe Smooth’s ‘Promised Land’, of which we already acquired the exploitation rights years ago,” he continues. “It adds a new dimension to the work we’re doing with Armada Music, and we’re super excited to bring in more incredible labels, artists and songs to boost and complement our current catalog of 40.000 tracks.”
For more information about the BEAT Music Fund, you can head to ArmadaMusic.com
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