Create Music Group said it raised $450 million through a combination of equity investments and debt capital on Wednesday, valuing the fast-growing independent company at $2.2 billion up from a $1 billion valuation less than two years ago.
Founded in 2015, Los Angeles-based Create Music Group says it has invested more than $500 million over the past year acquisitions, advances, and other growth initiatives, including most recently Nettwerk Music Group, in which it invested $300 million to support a management buy-out.
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Create’s co-founder and CEO Jonathan Strauss says Create is supporting “visionary entrepreneurs” who are capitalizing on changing tastes in music and preferences for new media, and the new capital will go to support future growth.
“This capital will not only accelerate our roadmap, expanding our footprint in media, IP and technology, but also empower our partners to build generational businesses that redefine culture and value creation across the global entertainment ecosystem,” said Strauss.
The new funding round brings institutional investors Ares Management and 2 Mile into the company as minority stakeholders, while Create’s founders remain majority owners.
Flexpoint Ford invested $165 million in Create in mid-2024, which at the time was part of a funding round that Create says gave it a valuation of $1 billion.
Create operates the Gen Z-focused digital entertainment and marketing agency Flighthouse and the independent music distribution platform Label Engine, as well as electronic and dance labels Monstercat, !K7 Music and Cr2 Records and Broke Records.
“The music industry is as dynamic as it has ever been, with rapid growth in new consumption channels and means of creation, which is creating vast opportunities for agile, digital-first companies to reshape the status quo,” said Will Smith, Create’s chief financial officer. “The newly raised capital will support continued acquisitions, strategic investments, technology development, and global expansion.”
Truist Securities and Bank of California served as joint lead arrangers for the financing.
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