Partnership Strengthens Musixmatch’s Position in Growing Market and Drives Creator-Centric Expansion Opportunities in New Geographies and Verticals
BOLOGNA, Italy & SAN FRANCISCO–(BUSINESS WIRE)–Musixmatch, a leading global music data platform, today announced a significant investment from TPG, a leading global alternative asset management firm. TPG is making its investment through TPG Growth, the firm’s middle market and growth equity platform. The partnership with TPG advances Musixmatch’s mission to provide lyrical content, tools, enriched metadata, and services to a growing community, while expanding its offerings internationally and in new verticals.
Since the company’s founding in 2010, Musixmatch has assembled the world’s largest lyrics catalogue, while bolstering its capabilities and identifying new use cases for lyrics. With lyrical content for millions of songs across 80+ languages, Musixmatch provides its metadata to digital service providers (DSPs), including Amazon Music, Apple Music, Google, Instagram, Spotify, and Tidal. The content is generated and continuously updated by a global community of more than 20 million curators, a sophisticated artificial intelligence / machine learning technology stack, a network of more than a million verified artists, and a team of in-house trained quality assurance specialists. The company has relationships with more than 100,000 music publishers globally, including BMG, Kobalt, Sony Music Publishing, Universal Music Publishing, and Warner Chappell.
“Over the past decade, our team has built Musixmatch from the ground up with a vision to better represent songwriters and artists, allowing their lyrics to reach a global community of music lovers,” said Musixmatch Founder and CEO Max Ciociola. “The team at TPG brings more than just deep experience investing behind world-class music and streaming companies – they also share our ethos and the entrepreneurial spirit that has been a hallmark of our success to date and will continue to drive our next phase of growth. We are thrilled to welcome TPG as a partner and look forward to what we can bring to our artists and their fans.”
“Digital music streaming has become the default form of music consumption and continues to experience robust growth,” said Jacqui Hawwa, a Business Unit Partner at TPG Growth. “We have long admired the impressive platform that Max and his team have built and believe Musixmatch’s unparalleled metadata catalogue, proprietary lyrics sourcing engine, and extensive relationships with streaming platforms and IP owners will continue to position the company for success in this large and growing market.”
TPG has significant experience investing in music and streaming and has an extensive portfolio of music and broader media investments including Calm, Creative Artists Agency (CAA), DirecTV, Entertainment Partners, Fandom, and Spotify.
Citi acted as financial advisor to Musixmatch, Legance served as legal counsel, and Tremonti Romagnoli Piccardi & Associates and Goodwin assisted management on this transaction. Ropes & Gray and Chiomenti served as TPG’s legal counsel.
Founded in 2010 in Bologna, Italy by Max Ciociola, Giuseppe Costantino, Gianluca Delli Carri, Francesco Delfino, and Loreto Parisi and backed by Micheli Associati, P101 Venture, and United Venture, Musixmatch features the world’s largest lyrics metadata collection, enhanced by additional metadata across 80+ languages. Today, Musixmatch has more than 120 employees across Italy and Europe.
TPG is a leading global alternative asset management firm founded in San Francisco in 1992 with $120 billion of assets under management and investment and operational teams in 12 offices globally. TPG invests across five multi-product platforms: Capital, Growth, Impact, Real Estate, and Market Solutions and our unique strategy is driven by collaboration, innovation, and inclusion. Our teams combine deep product and sector experience with broad capabilities and expertise to develop differentiated insights and add value for our fund investors, portfolio companies, management teams, and communities.
Ari Cohen and Julia Sottosanti