Rostrum Pacific, the parent company of indie label Rostrum Records, has secured $150 million in financing to grow its music catalog.
Rostrum said on Thursday (December 11) that the financing came from New York-headquartered Crayhill Capital Management, a private credit investment specialist with $2.9 billion in assets under management.
Crayhill’s financing marks a “significant expansion” of Rostrum’s catalog acquisition strategy, and will allow the company to “pursue catalog opportunities of any scale and integrate them into its robust, fully independent, and already-established ecosystem,” the company said.
Led by CEO Benjy Grinberg, Rostrum is aiming to become “the preeminent independent music company,” having consolidated its various businesses – Rostrum Records, Fat Beats, Cantora Records, and digital distribution platform SpaceHeater – under the Rostrum Pacific umbrella in 2023.
Last year, Rostrum Pacific launched SpaceHeater, a music distribution and analytics platform that uses AI-powered song attribution technology.
Rostrum says the platform offers “unmatched transparency and accuracy when it comes to tracking how artists’ music is used to train AI models and in determining fair compensation for AI-generated outputs.”
MBW understands that Rostrum’s catalog, previously distributed by ADA, is now fully distributed by SpaceHeater.
“With this backing, we’re expanding our reach and deepening our commitment to ensure that music under our care gets heard.”
Scott Margolin, Rostrum Pacific
“Securing this funding reflects confidence in our value-creation strategy – one that leverages strategic partnerships and collaborative frameworks to drive high-value returns,” said Scott Margolin, Rostrum’s Chief Financial Officer, who led the talks with Crayhill.
“With this backing, we’re expanding our reach and deepening our commitment to ensure that music under our care gets heard. We’re focused on catalog we can actively grow – whether it’s assets we acquire or the catalog we’ve been building for more than 20 years.”
Jihane Hassad, Director, TMT Investment Group at Crayhill, said Rostrum “has built a compelling in-house model that drives value creation and strategic growth, and we’re proud to back their expansion.
“As the music industry landscape evolves, Crayhill is well positioned to provide tailored capital solutions that enable Rostrum to pursue catalog opportunities of any scale and integrate them into its robust, fully independent, and already-established ecosystem.”
According to the Crayhill website, the company has invested over $500 million across its TMT (Technology, Media & Telecom) strategy, with investments in Music, Film and TV Libraries.Music Business Worldwide
