The Hollywood record label which last year acquired Music for Pets has snapped up another Manchester MusicTech firm in Ostereo.
Howard Murphy, who founded the record label and music publisher in 2016, will exit Ostereo as it joins the Create Music Group stable of companies. Ramin Bostan and Nick Kirkby will now oversee day-to-day operations.
In June Create Music Group raised $165 million at a $1 billion valuation and revealed that its catalogue and network was generating more than 25bn streams a month, up from 15bn a year before.
Ostereo uses data analytics to identify and develop chart-topping artists from various territories around the world, including Europe, UK, Korea, India, Indonesia, The Philippines and others.聽
鈥淗oward and his team have built Ostereo into a highly successful music venture and are the exact type of leaders and entrepreneurs that thrive under our ecosystem,鈥� said Create Music Group founder and CEO Jonathan Strauss.
鈥淲e are excited to welcome Ramin, Nick and the entire Ostereo team to Create and look forward to working alongside them to build even greater opportunities for the label and its incredible artists.鈥�
Last year Ostereo 鈥渞olled up鈥� its management services for artists, writers and producers – launched in 2019 – to focus on master and publishing rights.
鈥淥ver the last decade we have built Ostereo into a home to incubate and develop exciting new artists across multiple genres,鈥� said Murphy.聽
鈥淏ecoming a part of the Create family of companies gives me the confidence to step away to focus on my next endeavor. With Ramin and Nick handling things together with the global experts at Create, I know our artists are going to thrive.鈥澛�
Bostan, COO, commented: 鈥淭his acquisition marks the start of a new, exciting chapter for Ostereo; we can鈥檛 wait to develop our global roster of artists with the expertise and infrastructure at Create, one of the most inspiring music companies in the world.鈥澛�
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