Warner Music Group Adds to Digital Media Portfolio.
Credit: David Tonelson
This week it was announced that Warner Music Group has further spread its wings into the world of digital media, acquiring significant site HipHopDX.
What’s In Warner’s Bag?
The purchase follows Warner’s 2018 purchase of UPROXX, an online music media platform with an audience of 40 million, as well as viral content firm IMGN – who you might recognise as the brand behind viral Instagram account Daquan - in August.
Why Are They Doing This?
For labels, further dipping their toes into the world of digital media makes sense. It allows them to take a new approach in reaching new audiences, it creates new marketing channels and allows them to gather valuable data from users.
In a statement to Music Business Worldwide, Warner claimed that the site will maintain journalistic neutrality, despite the major label’s investment. Either way, with an audience of 1.6 million on Facebook, 770,000 on YouTube and 660,000 on Twitter, this could prove to be another wise strategic investment from Warner.
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