Vinyl Group

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Vinyl Group Ltd
Company typePublic
ASX: VNL
IndustryMusic technology
Founded2023
HeadquartersSouth Yarra, Melbourne, Australia
Key people
ProductsVampr, Jaxsta, Vinyl.com, The Brag Media
Revenue$9.5 million (2023, pro forma) [1]
Total assets$2.901 million (March 2024)[2]
Number of employees
22[3]
Websitevinyl.group

Vinyl Group Ltd is an Australian music technology company. It is traded on the Australian Securities Exchange. Its subsidiaries are Jaxsta (a music credit database), Vampr (a music networking platform), Vinyl.com (an online record store) and The Brag Media (a publishing and events business).

History

Vinyl Group was founded as Jaxsta in Sydney in 2015 by former movie and music industry professional Jacqui Louez Schoorl and her husband Louis Schoorl, a producer and songwriter.[4][5]

Jaxsta was listed as a public company on the ASX on December 28, 2018.[6]

Jaxsta launched Vinyl.com in May 2023, offering a catalog of vinyl records across all genres with verified creative contributions metadata on every album.[7]

In February 2023, the company announced it would acquire Vampr, a music networking platform that connects musicians and industry professionals. The acquisition was completed in June 2023.[8][9] Vampr’s founder and CEO Josh Simons initially joined Jaxsta as Chief Strategy Officer[10] and was subsequently appointed CEO on 29 June 2023.[11]

Jaxsta Limited rebranded as Vinyl Group Ltd in December 2023 to better reflect its expanded operations.[12]

In January 2024, Vinyl Group completed the acquisition of The Brag Media, a publishing and events business with about 10 million monthly active users (MAUs) across its brands, significantly enhancing Vinyl Group's reach and sales opportunities.[2] The acquisition deal was valued at $8 million and was supported by an $11 million funding facility.[13][14]

Operations

Vinyl Group Ltd focuses on leveraging technology to enhance music networking and collaboration.[15] The company's portfolio includes Vampr, a platform for music professionals to connect and collaborate, Jaxsta, a database of official music credits, and Vinyl.com, a chart-accredited record store.[16]

Vampr

Vampr is a social-professional network and talent marketplace, helping creatives in over 180 countries find collaborators and monetize their work. The platform has introduced features like Credits and Verification, integrating Jaxsta Creator features into Vampr Pro subscriptions.[1]

Jaxsta

Jaxsta is a database of official music credits, offering subscription, API, and freemium access. It supports rights holders with recording matching, achieving a 97% match rate.[1] The database contains over 330 million official, deep-linked music credits across 105 million pages.

Vinyl.com

Vinyl.com is an online record store which launched in 2023. It allows music fans to buy records and explore liner notes, offering over 50,000 records across all genres. The platform is powered by Jaxsta Official Music Credits.[1]

The Brag Media

The Brag Media is a publishing and events business that represents iconic titles like Rolling Stone Australia, The Music Network, Variety, and Billboard. It reaches over 30% of the Australian population each month and produces events like the Rolling Stone Awards.[17]

Financial performance

For the quarter ending March 31, 2024, Vinyl Group reported a revenue increase of 218% quarter-over-quarter to $1.86 million, partly due to the integration of The Brag Media.[2] As of March 31, 2024, the company had $2.901 million in cash and cash equivalents.[2] The company aims to achieve profitability through synergies and efficiencies from its acquisitions.[18]

Leadership changes

On April 28, 2022, it was announced that Louez Schoorl would be moving into the Founder role, and former Chief Marketing Officer Beth Appleton would be Jaxsta's new CEO.[19] The Music Network reported that "the change will allow Louez Schoorl to focus on the Jaxsta product and our community and creative relationships".[20] Before joining Jaxsta in July 2021, Appleton had been the Senior Vice President Marketing Australasia at Warner Music Australia.[21]

Josh Simons, Founder and CEO of Vampr, and former indie-rock musician with his band Buchanan, was appointed CEO and succeeded Appleton on 29 June 2023.[11]

References

  1. ^ a b c d "Quarterly Activities Report Q2 FY23/24" (PDF). Vinyl Group Ltd. 2024-01-11. Retrieved 2024-06-29.
  2. ^ a b c d "Quarterly Activities Report Q3 FY23/24" (PDF). Vinyl Group Ltd. 2024-04-24. Retrieved 2024-06-29.
  3. ^ "Vinyl Group Ltd, VNL:ASX profile". Financial Times. 2024-06-28. Retrieved 2024-06-29.
  4. ^ "Music Credits Database Jaxsta Launches Public Beta". Hypebot. 2019-06-13. Retrieved 2020-09-29.
  5. ^ "Louis Schoorl | Disney Music Publishing". Archived from the original on 2022-10-29. Retrieved 2020-09-29.
  6. ^ "Jaxsta Announced Its Re-Listing On ASX And Updated Changes In Management And Board". kalkinemedia.com. Retrieved 2020-09-29.
  7. ^ "Music credits company Jaxsta launches online record store Vinyl.com". Music Business Worldwide. 2023-05-22. Retrieved 2023-06-19.
  8. ^ "Jaxsta unveils new leadership team following Vampr acquisition" (Press release). Jaxsta. 2023-09-11. Retrieved 2024-06-29 – via Music Week.
  9. ^ "Jaxsta to Acquire Vampr" (Press release). 2023-02-22. Retrieved 2024-06-29 – via The Music Network.
  10. ^ "Jaxsta acquires 'LinkedIn for creatives' Vampr". Music Business Worldwide. 2023-02-22. Retrieved 2023-06-15.
  11. ^ a b "Josh Simons Named New CEO at Music Credits Firm Jaxsta as Beth Appleton Steps Down". Music Business Worldwide. 2023-02-22. Retrieved 2023-07-03.
  12. ^ "Music Credits Company Jaxsta Rebrands as Vinyl Group" (Press release). Vinyl Group. 2023-12-05. Retrieved 2024-06-29 – via Music Business Worldwide.
  13. ^ "Billionaire reveals secret to making money out of music". Australian Financial Review. 2024-02-16. Retrieved 2024-06-29.
  14. ^ "Songtradr, WiseTech founder lift stakes in the Brag Media's new owner Vinyl Group". Business News Australia. 2024-05-02. Retrieved 2024-06-29.
  15. ^ "What Vinyl Group's Brag Media acquisition is all about". Mumbrella. 2024-02-02. Retrieved 2024-06-29.
  16. ^ "Vinyl Group Is New Home of Jaxsta and Vampr". Billboard. 2023-12-05. Retrieved 2024-06-29.
  17. ^ "Slew of Promotions at Vinyl Group". B&T. 2024-06-05. Retrieved 2024-06-29.
  18. ^ "Vinyl Group Identifies Synergies, 'Clear Path to Profitability' Following The Brag Media Acquisition". Billboard. 2024-02-08. Retrieved 2024-06-29.
  19. ^ Brandle, Lars (2022-04-28). "Jaxsta Promotes Beth Appleton to CEO". Billboard. Retrieved 2022-08-11.
  20. ^ "Beth Appleton Promoted to CEO at Jaxsta". The Music Network. 2022-04-28. Retrieved 2022-08-11.
  21. ^ "Beth Appleton promoted to Chief Executive Officer at Australia-based music credit resource Jaxsta". Music Business Worldwide. 2022-04-29. Retrieved 2022-08-11.

External links

Retrieved from "https://mdwiki.org/wiki/Vinyl_Group"