In an audacious move, Vinyl Group, the sole music company on the ASX, has taken a significant step forward by wholly acquiring The Brag Media, Australia’s leading publisher for the youth demographic. This acquisition not only expands its portfolio but also strengthens its foothold in the vibrant youth market.
Reinforcement of Trust: A Hefty Investment from a Tech Visionary
Enhancing this strategic move is the substantial endorsement from Richard White, CEO & Founder of WiseTech Global, who has injected an $11 million placement and debt facility into Vinyl Group. This marks a reaffirmation of confidence in Vinyl Group’s strategic trajectory and growth potential.
The Brag Media’s Vast Influence
Boasting a network that touches ten million users each month and generates over 40 million page views, The Brag Media is a powerhouse in the realm of youth publishing. Its extensive array of owned and represented titles offers an unrivaled gateway to youth culture and trends.
A Financial and Strategic Blueprint for the Future
The acquisition, valued at $8 million with an additional potential $2 million contingent on performance, is set against the backdrop of The Brag Media’s solid financial performance. This merger promises not only immediate financial benefits but also a bright future for the combined entities.
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Leadership and Shared Vision: Charting a New Course
Luke Girgis, the CEO of The Brag Media, is set to bring his leadership and insight to Vinyl Group, embarking on a new chapter as Publisher and Managing Director. “The next phase in the evolution of The Brag Media will take place under the umbrella of Australia’s only ASX-listed music business, and I couldn’t be happier about it. Right from the earliest discussions we had, it was clear that the Board, Josh and the team shared our vision for the future of the business, and I’m thrilled that they’ve made this commitment with us. I’d also like to acknowledge my Co-Founder and Managing Director Sam Benjamin. This business would not have reached the heights that it has without Sam’s investment, support, leadership and mentorship over the past six years.”
Synergy and Innovation: A Union of Strengths
The merger is conceived not just as a financial investment but as a strategic amalgamation of complementary strengths and visions. Josh Simons, CEO of Vinyl Group, “Vinyl Group’s suite of products work together to empower participants of the music ecosystem and reach all corners of the creator economy, and we can’t wait to start working with the iconic mastheads that Luke and The Brag Media have successfully developed in Australia. We’ve identified several impactful synergies between the two businesses that will deliver immediate cost efficiencies and revenue, including streamlining Vampr’s in-app ads business and leveraging The Brag Media’s impressive audience reach to bolster Jaxsta, Vinyl.com and Vampr in the market.”
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