Investors in Profitable, Growing Service Businesses
Inc. Magazine Names Bug Music to Top 100 Fastest Growing Privately Held Companies
Los Angeles, CA
#2 Fastest Growing Media Company, Only Music Publisher Named to Influential List
Bug Music has been honored in Inc. magazine`s "Inc. 500: Fastest Growing Privately Held Companies" annual issue. Claiming #99 overall and #2 in Media, the only music publishing company to make the list, Bug Music was noted for their remarkable 1,564.5% three-year growth with annual revenues topping $77 million.
A transformative acquisition strategy, international platform expansion, and an innovative approach into new sectors of music publishing are the core corporate factors adding to Bug`s financial growth. Bug today boasts a catalog of over 250,000 songs with a significant majority of the Company`s earnings coming from music owned by Bug. Among the many corporate developments that have contributed to this performance include:
- July 2006 investment by Crossroads Media/Spectrum Equity Investors
- June 2007 secures $250,000,000 credit facility led by JP Morgan
- June 2007 acquisition of major independent Windswept Holdings, including the owned catalogs Trio/Quartet Music and Hitco Music
- August 2008 acquisition of Selectracks, establishing a significant presence in the production music segment and creating opportunities for Bug writers
- July 2006 to June 2009 - over 25 catalog acquisitions
- Continual top independent ranking in market share in Billboard top publishing charts
- A new partnership agreement with one of the music industry`s most prolific songwriting and producing companies, Arthouse Entertainment, co-owned by American Idol judge Kara DioGuardi
- The 2009 launch of a joint venture record label with global chart-topping band Kings of Leon and the label`s first album release with The Features "Some Kind of Salvation"
- New publishing and development agreements as diverse as the legendary Joan Jett and her Blackheart Records, Academy Award winners Three Six Mafia, punk rocker Iggy Pop, Kings of Leon, Grammy winning R&B/Hip-Hop producers Tim & Bob, rock icon Scott Weiland, indie hipsters Grizzly Bear and pop star Tina Parol
"We are ecstatic about the recognition we have just received from Inc. magazine," said John Rudolph, CEO Bug Music. "Bug is executing a disciplined growth strategy to create more opportunities for writers and wonderful songs and for the company, both through traditional expansion and new business models, such as Bug Digital. In trying times for the music industry and for the economy overall, our initiatives create stability for our music and financial partners who have been the integral part of our success. As we continue our strategy, we look forward to expanding and deepening these relationships."
Bug Music recently registered its fifth consecutive quarter of market share growth in Q2, making the Company the leading independent music publisher with the largest quarter-to-quarter growth.
About Bug Music
Boasting over 250,000 copyrights including the classics "What a Wonderful World," "Fever" and "Happy Together," as well as hit songs from such musical luminaries as Johnny Cash, Pete Townshend, Willie Dixon, Muddy Waters, Woody Guthrie, Townes Van Zandt and Stevie Ray Vaughan to contemporary hit makers Three Six Mafia, Ashley Gorley (Carrie Underwood, Trace Atkins), Kara DioGuardi (Pink, Jonas Brothers, Celine Dion), Iggy Pop, Bruno Mars, Ryan Adams, Kings of Leon and Wilco, Bug Music`s reputation, across its eight offices in the US and Europe, as a writer/artist-oriented music company and trusted counsel of legendary estates and current artists is unrivaled. www.bugmusic.com
About Spectrum Equity Investors
Spectrum Equity Investors is a private equity firm focused on investing in profitable, growing services businesses. Founded in 1994 with offices in Boston and California, Spectrum manages over US$4 billion in capital across five funds. Spectrum invests behind strong management teams and provides active board-level assistance to help create and realize value. Spectrum has been an active investor in online and electronic information service providers such as RiskMetrics Group (NYSE: RMG), World-Check, Seisint, Ancestry.com, iPay Technologies, Passport Health Communications and SurveyMonkey.
