CVC Capital Partners to acquire DistroKid
The music distribution and tools platform serves millions of independent artists worldwide, with existing backer Insight Partners retaining a minority stake.
Takeaways
- DistroKid is a music distribution and tools platform for independent musicians.
- CVC Capital Partners is acquiring DistroKid.
- The business serves independent musicians.
DistroKid, a music distribution and tools platform that provides independent musicians with distribution, instant mastering, direct-to-fan experiences, and custom merchandise, has received a majority investment from CVC Capital Partners.
Insight Partners, the company's longtime backer, will retain a significant minority stake.
" “DistroKid has transformed how independent artists share their music with the world,” said Deven Parekh, Managing Director at Insight Partners.
CVC aims to leverage its experience in music, entertainment, and consumer subscription to grow DistroKid's artist tools globally.
Phil Bauer will continue to lead DistroKid as President alongside the existing leadership team.
LLC and The Raine Group advised DistroKid; Morgan Stanley advised CVC.
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