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After raising $25m, BandLab parent offloads UK music media brand Uncut

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NME Networks, a division of BandLab Applied sciences’ father or mother firm Caldecott Music Group, has offered long-running UK-based music media model Uncut to Kelsey Media.

The deal consists of the model’s print publications, plus its social and digital belongings. All Uncut workers have transferred to Kelsey Media with the sale.

The businesses say that “there will likely be no interruption to Uncut’s publishing schedule”.

(Singapore-based BandLab fashioned father or mother firm Caldecott Music Group in 2021 to deal with three divisions: BandLab Applied sciences, Vista Musical Devices, and NME Networks.)

BandLab acquired Uncut together with one other long-running UK music media model NME from London-based TI Media in Might 2019.

(NME closed manufacturing of its weekly publication in March 2018 – ending its 66 12 months historical past as a bodily journal. The model exists at present on-line at NME.com.)

NME continues to be a part of BandLab’s NME Networks division, which additionally homes media properties Guitar and MusicTech.

BandLab’s acquisition of NME and Uncut in 2019 fashioned a part of a wider M&A spree on the firm over the previous few years.

In 2018, UK-based Anthem Publishing offered its music-making media portfolio – together with MusicTech, MusicTech Focus, The Guitar Journal, Guitar Classics, www.musictech.internet and www.theguitarmagazine.com – to BandLab.

In 2017, BandLab additionally purchased UK-based dwell video streaming startup Chew.

In the meantime, BandLab acquired artist providers platform ReverbNation in 2021, and most lately, in February, the corporate acquired beat market Airbit.

The divestment of Uncut to Kelsey Media arrives in the identical week that BandLab Applied sciences raised a further USD $25 million in its Sequence B1 financing spherical, valuing the corporate at $425 million.

This newest funding adopted the corporate’s profitable Sequence B spherical in April 2022, the place BandLab raised $65 million and achieved a post-money valuation of $315 million.

BandLab’s flagship namesake platform affords a variety of options such because the cross-platform digital audio workstation Studio, royalty-free pattern and loops service Sounds, and the AI music generator software SongStarter.

The app counts over 60 million registered customers.

Saying the brand new funding earlier this week, BandLab CEO & Co-Founder Meng Ru Kuok stated: “With this funding, we step ahead right into a future the place each smartphone proprietor has the potential to be a singular music artist who’s protected, empowered, and heard.”

He added: “We’re at a charming juncture the place expertise and artwork intersect, bringing down the traditional limitations to creativity,.

“On this transformative period of mass music creation, our dedication to artists, aspiring musicians, and creators worldwide has by no means been stronger. Not solely are we democratizing music creation on a world scale, we’re fostering a neighborhood the place everybody can categorical themselves by means of music, regardless of their sources or technical prowess.”

“Underneath their new possession, we’re assured that Uncut will proceed to thrive and delight its viewers of music obsessives all over the world.”

Holly Bishop, NME Networks

Commenting on at present’s information about Uncut, Holly Bishop, Chief Working and Industrial Officer at NME Networks, stated: “Since 1997, Uncut’s dedication to championing the previous, current and way forward for nice music has been distinctive. The standard of journalism and sturdy integrity of the award-winning staff stays excellent.

“Whereas we have a good time all that Uncut has achieved over the previous 25 years, we recognise the worth that Kelsey Media’s in depth expertise in passion-led publishing can deliver to Uncut. Underneath their new possession, we’re assured that Uncut will proceed to thrive and delight its viewers of music obsessives all over the world.”

Steve Wright, Chief Govt Officer of Kelsey Media, added: “We’re excited to have the chance to welcome Uncut into our enterprise, and stay up for working with the staff on its future improvement.”

Kelsey Media is claimed to be one among “the fastest-growing media companies within the UK” with a portfolio of greater than 80 multi-media manufacturers, together with Stuff, Beginner Photographer, Mens Health, Motorsport Information and Quick Automotive.Music Enterprise Worldwide

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