Create Music Group has acquired Monstercat in a deal that will bring together two of electronic music’s top independent labels.
After receiving a $165 million injection from private equity firm Flexpoint Firm and an ensuing $1 billion valuation last year, Create Music Group today announced its purchase of the longstanding Canadian electronic label for an undisclosed fee.
In a press release, Create said it will invest an additional $50 million over the next two years to artist development, advances, and platform support for Monstercat’s roster, “to accelerate both new signings and long-term career growth.”
The label group, which is known for its rights management, distribution, sync, and content monetization prowess, and claims to generate over 150 billion monthly streams, also plans to expand Monstercat Gold, a subscription-based licensing service for creators.
Since its founding in Vancouver 2011, Monstercat has grown to become one of modern electronic music’s most influential labels across more than 8,000 releases from artists like Kaskade, Marshmello, Adventure Club, NGHTMRE, and Habstrakt, and powerful gaming partnerships with Rocket League, Fortnite, and Roblox.
Monstercat will continue to operate independently under President Daniel Turcotte, with co-founders Mike Darlington and Ari Paunonen remaining on as advisors, according to the announcement.
“Our mission has alway been to build sustainable, long-term careers for exceptional artists,” Turcotte said in a press release. “Create gives us the reach and support to do that at a large scale, without changing what makes Monstercat special. We’re still artist-first—only now with more tools to serve them.”
In the last calendar year, Create has also purchased deadmau5’s entire catalog and that of his mau5trap label, Berlin-based independent music company !K7, Manchester-based label and publisher Ostereo, a 50% stake in London-based label-publisher Enhanced, and announced a joint catalog venture with New York and New Orleans’ Pack Records, according to Music Business Worldwide.
Featured image courtesy: Monstercat.
