Penske Media has invested in music charts and data company BuzzAngle Music. Penske owns Rolling Stone, Variety, Deadline and IndieWire, and plans to leverage BuzzAngle charts across their properties.
The investment and partnership offer the first major threat to Billboard Magazine and its ubiquitous Nielsen generated music charts.
Launched in 2016 by Border City Media founder Jim Lidestri, BuzzAngle offers music analytics services and incorporates the gathered data in daily sales, streaming and airplay activity of albums, songs and artists.
“We’re thrilled to announce our investment in BuzzAngle, and partnership with Jim and the team,” said Jay Penske, the 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.”
“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.”
from hypebot www.hypebot.com/hypebot/2018/07/variety-rolling-stone-owner-penske-invest-in-buzzangle-to-challenge-billboard-chart-dominace.html