Earlier this year we reported on D2C platform Bandzoogle’s milestone of $100m of music, merch and ticket sales. More than half of those sales had been generated in the last five years.
If that announcement was a bat-signal to potential acquirers, it certainly worked: yesterday Bandzoogle was bought by distribution firm DistroKid.
“Bandzoogle has built incredible tools that make it super easy for every artist to set up an impactful public website and ecommerce store,” said DistroKid CEO Philip Kaplan in a statement.
The acquisition comes just over two years after DistroKid raised a “substantial” funding round from VC firm Insight Partners that valued the company at $1.3bn.
That year, DistroKid also claimed to be responsible for distributing more than a third of all new releases on streaming services.
This week’s deal promises to be a very interesting combination of distribution with D2C and website-hosting features. Will that now inspire other distributors to follow suit?
Tools: platforms to help you reach new audiences
Tools :: Wyng
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