Songkick, a US-based live music discovery platform operator backed by conglomerate Access Industries, has sold most of its assets to entertainment and record label conglomerate Warner Music for an undisclosed sum.
Warner has acquired the company’s concert discovery app and website as well as the Songkick trademark. Some staff responsible for maintaining the app will move to Warner Music as part of the deal.
Warner Music has not purchased Songkick’s ticketing business, which is the subject of a lawsuit filed against competitors Live Nation and Ticketmaster alleging antitrust violations, anti-competitive behaviour and intentional interference.
The Songkick app will become a standalone brand managed by WEA, Warner Music’s artist and label services division. Other terms of the deal have not been revealed.
Songkick’s technology allows users to discover nearby concerts and facilitates the addition of concert listings on third-party services such as music streaming platform Deezer. It merged with Crowdsurge, which allows artists to sell tickets directly to fans, in 2015.
The platform, which counts some 15 million users, is set to be developed further post-acquisition, with additional features added, though details have not been revealed.
Access Industries supplied $15m to Songkick in August 2016, having previously invested $10m in December 2015. Access has also taken part in the company’s $16m series C round in June 2015 alongside Sequoia Capital and Index Ventures.
The series C round followed $17m of earlier investment from Sequoia, Index, Y Combinator, SoftTech and Accelerator Group, bringing Songkick’s overall funding to approximately $58m.
Matt Jones, CEO and co-founder of Songkick, said: “Songkick was founded on the promise of improving the live experience for fans and the artists they love. Over the years, we have helped tens of millions find their next great live experience.
“And today, I am excited to pass the baton on the discovery service to the great team at Warner Music, an ideal organisation to carry on this mission and to take it in new, innovative directions.”