Bug Music Named Top 100 In Inc Magazine’s Influential “Inc. 500” October 15, 2009Posted by David W. King in Uncategorized.
Tags: Bug Music, Inc. 500, Inc. Magazine
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 trans-formative 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 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.