Penske Media Corporation had made a strategic investment in BuzzAngle Music. Founded in 2013, and launched in 2016 by Border City Media founder Jim Lidestri, BuzzAngle provides a comprehensive music analytics service that incorporates daily sales, streaming and airplay activity of albums, songs and artists for deeper analysis of music consumption and related trends.
Penske Media plans to leverage some of its key brands, including Rolling Stone, Variety, Deadline and IndieWire, to deepen the influence and expand exposure of the BuzzAngle charts in addition to creating custom charts for specific content verticals. The investment will also provide BuzzAngle a stronger financial foundation for growth.
The BuzzAngle investment was led by Michael Ye, Senior Director, Strategic Planning and Acquisition for PMC.
“We’re thrilled to announce our investment in BuzzAngle, and partnership with Jim and the team,” said Jay Penske, founder, chairman and CEO of PMC. “BuzzAngle has already accomplished many milestones but, as part of this new alliance, we will jointly push even more aggressively to make the charts an essential and central part of music, media and the entertainment industry.”
Tracking music consumption, measured by streaming and multiple sales configurations, has become increasingly complicated. BuzzAngle Music provides tools that create quantifiable, instant data that allow a music company to track even the most granular metrics. The platform’s sorting options include daily album and song sales, streaming activity, and radio airplay, all of which can be broken out market by market. The methodology allows for more than 10 trillion combinations of individualized reports for albums, songs, artists, labels and distributors.
“Penske Media is the perfect partner to help BuzzAngle fulfill the goals we set out to achieve at our founding,” said Lidestri. “The needed funding will accelerate product development and the reach of Variety and Rolling Stone will provide an unparalleled ability to bring charts and data analysis both to the music industry and to music fans worldwide.”
BuzzAngle was the first music-consumption analytics platform to offer daily updates, a global platform, and a dashboard-driven system, as well as the first to show streaming data at a market level. It’s also the first to show both major and independent label and distributor market share based on streaming and total consumption. BuzzAngle is the only platform that allows users to create individualized reports on a daily basis, and in multiple countries.
PMC’s interest in BuzzAngle follows its December 2017 transaction with Wenner Media, the majority owner of Rolling Stone, the leading voice of music, politics and pop culture for 50 years.