Cinq Music received $100 million in Series D funding from its parent company, GoDigital Media Group, the company announced Monday. The Los Angeles-based music distributor, label and publisher will use the money to purchase music rights — both masters and publishing — and to aid its international expansion.
“Our continued ability to fund Cinq Music for its acquisitions is grounded in music rights being a durable annuity-like asset,” said GoDigital chairman and CEOin a statement. “Across our business units the past four years, GoDigital has invested more than $350 million through multiple capital vehicles.”
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