Beats Music a division of Beats Electronics whose products are top sellers at JB Hi Fi, Dick Smith and Harvey Norman has aquired Topspin Media, a company whose platform is used by some 55,000 musicians and performers seeking to stay engaged with their fans.
In a breaking announcement the Company said that they have added a new offering geared toward musicians: a way to communicate with fans and sell merchandise and albums the Company said.
Terms of the transaction were not disclosed. Beats Music and Topspin both announced the deal via blog entries on their websites. Attempts to reach both companies were not immediately successful.
Beats Music is a division of Beats Electronics, the headphone company founded by music mogul Jimmy Iovine and rap star Dr. Dre.
Beats Music and Topspin Media have been working together for some time. Beats Music’s chief executive, Ian Rogers, was CEO at Topspin until about a year ago, his blog post said.
Launched in 2007, Topspin has aimed to help artists prosper more from their own work as music streaming becomes the norm, offering sales and marketing software for musicians, filmmakers and other creative professionals.
While the company has not disclosed its full funding history, its board members include investors from Redpoint Ventures and Foundry Group.
Beats Music is an on-demand service that competes with rivals like Spotify by helping listeners connect to unfamiliar music.
