Cinq Music has raised $250 million from parent company GoDigital Media Group to fund further acquisitions of music rights, the company announced on Monday (February 12). This latest round of funding builds on the $160 million that GoDigital previously gave Cinq to build a music rights repertoire — $20 million in August 2017, $40 million in August 2019 and $100 million in April of 2022.
“It has always been our ultimate vision to amass a billion-dollar music rights balance sheet.” Jason Peterson, president/CEO of GoDigital Media Group, said in a statement. “With Cinq's continued expansion, operational excellence and strong ability to attract top talent, it's only natural that we recommit to accelerating growth toward this goal.”
With a focus on Latin music and hip-hop, Cinq claims to have more than $300 million in assets under management covering 80,000 recorded music and publishing copyrights. In recent years, the label has been a major player in the rise of local Mexican music and artists such as Fuerza Regida, Natanael Cano, Legado 7 and Tito Torbellino Jr. In June, the label signed a worldwide deal with Street Mob Records, the label founded by Fuerza Regida's Jesus Ortiz Paz with a roster that includes Chino Pacas, Calle 24, Ángel Ureta, Chuy Montana and Linea Personal. Cinq has been working with Rancho Humilde, Fuerza Regida's record label, since 2018.
Previous funding has helped Cinq grow its presence in hip-hop and R&B. In 2017, Cinq purchased rapper TI's Atlantic Records catalog of recorded music of the era — including his Billboard 200 No. 1 King, TI vs. TIP and Written traces — as Warner Music Group divests assets from its acquisition of Parlophone Music Group in 2013. The following year, Cinq teamed up with Janet Jackson for distribution on her label, Rhythm Nation Records, and released “Made For Now,” Jackson's collaboration with Daddy Yankee. In 2020, Cinq welcomed Jason Derulo to its roster through the acquisition of the Beluga Heights joint venture with Warner Records.
