The Hollywood Reporter-Billboard Media Group today announced that it has signed a definitive agreement to acquire SpinMedia’s storied music assets Spin, Vibe, and Stereogum, establishing the world’s largest music brand by digital traffic, social reach, and audience share.
The deal expands The Hollywood Reporter-Billboard Media Group’s online audience to 45 million readers a month, strengthening its reach among social-media savvy millennials who value listening to music digitally and live experiences in equal measure. The Hollywood Reporter and Billboard both launched aggressive moves into video earlier this year, with the brands currently delivering over 100 million video views monthly. The Media Group has also partnered with Facebook to create custom content for the recently launched Facebook Live.
In all, the acquisition will boost the Media Group’s revenues to more than $100 million a year, two-thirds of which will come from digital and video