Investment Overview
Following a $165 million investment round last year, which valued Create Music Group (CMG) at $1 billion, the company has engaged in a series of acquisitions.
Last fall, CMG acquired a UK-based label and publisher known as Coker, and swiftly took a 50% stake in the London-based label/publisher IncreasedField.
Strategic Acquisitions
Now headquartered in Los Angeles, CMG is making strategic moves closer to home, recently announcing the acquisition of a catalog and a joint venture with Package of Records from New York and New Orleans.
The new partnership enhances the existing relationship between the two music companies, which previously consisted of a publishing joint venture.
According to Create, the New Care Pack Records (stylized as “package”) will allow its artists access to CMG’s proprietary technology, global distribution, data-driven marketing insights, and monetization tools, promising “new growth opportunities while preserving the creative independence of CMG artists.”
“Our focus remains on developing an audience for our labels and supporting the music entrepreneurs who shape the future of the industry.”
Jonathan Strauss, Create Music Group
“Pack Records is an ideal addition to our expanding family of independent labels, and we are excited to provide them with the tools, infrastructure, and global reach necessary to elevate our vision to the next level,” stated CMG co-founder and CEO Jonathan Strauss in a statement on February 24.
Founded in 2020, Sky MacAlra (previously of A2IM and UnitedMasters), Jett Wells (formerly of Believe), and Gavin Beats Off (previously of Fugue and Beatport) formed this indie recording label and publishing company dedicated to cultivating diverse creative voices and genre artists.
Its roster boasts artists, producers, and songwriters such as Oldn, CONNIE, Bloody Crops, Dean, Dava, Divine Ruler, Internet One, Curtis Wells, Lauren Sanderson, Maya Randl, OTR, and SimoneField.
The label proudly features a “catalog of records and publishing rights capturing viral moments from the internet and gaming culture,” including tracks like ALDN’s Icantbelievethyougetaway, Ezekiel‘s HELP_URSELF, Yearford‘s City Center, and Internet One’s STOP, along with production credits for Connie’s Immerse Yourself! for Mix! and Silly for Lexa Gates.
Pack has partnered with global campaigns for brands such as Adidas, Netflix, Sonos, Victoria Secret, Higher League Football, Lipton, Hulom, Paramount+, Renault, FC Barcelona, and Puma, among others.
“Connecting with the CMG network fully opens records and publishing opportunities for our artists, their teams, and everyone at Pack.”
Sky MacAlra, Pak.
“This partnership has been in the making for quite some time. Connecting with the CMG network completely opens new resources for our artists, their teams, and the entire package,” said co-founder and CEO McElroy.
“The resources and experience from CMG enable us to invest and aid our artists in doing what they love: building genuine connections with communities and fans while developing sustainable careers in their passion.
“We appreciate Jonathan (co-founder and Chief Operating Officer) Alex Williams, Eric (Nguyen), Kyle Bartelman, and the entire CMG family for their commitment to enhancing the rights and capabilities of independent artists and labels like Pack.”
Eric Nguyen, Senior Vice President for Global Corporate Development and M&A at Create Music Group, added: “Pairing the expertise and knowledge of Jett in the label and artist space with Gavin’s artistic vision creates a robust foundation for growth. With the CMG network and infrastructure backing them, Pack is positioned for even greater heights.”
“Create not only brings Pack fresh energy for expanding our record label but also offers a unique opportunity for further development in our publishing composition, comprising exciting producers and writers,” said Pack co-founder and COO Jett Wells.
“Thanks to Create, Pack can evolve at an exciting pace.”
Since its establishment in 2015, CMG has transformed into a label, distribution company, and entertainment network that facilitates 30 billion music streams monthly, employing over 400 staff globally.
In 2020, CMG ranked second on the Inc 5000 list of fastest-growing companies in America.
$1bn-valued Create Music Group acquires catalog from Pack Records as companies form new JV
