Sony Music Entertainment has invested a six-figure sum in ‘Europe’s largest live booking platform’ – startup gigmit, based in Berlin.
Gigmit works with more than 40,000 registered artists every month across more than 1,500 international gigs of all genres.
It has paid out nearly €5m in advertised sales since it was launched.
“I am very happy to have with Sony Music a strong partner at our side,” said gigmit CEO Marcus Rüssel .
“This is our biggest deal so far… By exploiting synergies, gigmit is now able to mature in terms of content and… further expand our positioning in the German-speaking world “.
“With this partnership, we will generate artistic success and economic growth.”
Philip Ginthör , CEO Sony Music GSA
Philip Ginthör , CEO Sony Music GSA, added: “The business model of gigmit and our expertise in sustainable building talents are highly complementary.
“With this partnership, we will generate artistic success and economic growth.”
Gigmit connects various parties via its online tool – helping event organizers find acts for their events, and helping musicians find stages and bookings to play live gigs.
[Pictured: The Sony Music Germany team with gimit CEO Marcus Rüssel (fourth from the right), Philipp von Esebeck (CFO Sony Music GSA, second from the right) and Manlio Celotti (CEO The Orchard Germany, left)]Music Business Worldwide
