You did not read that wrong. $7 Billion (with a B) is available for music entrepreneurs with the next big thing (or a current big thing).
Vivendi Universal – the music arm of a French multinational corporation – is on the lookout for music startups, labels and festivals it can buy up. There hasn’t been a lot of money flowing around the music industry but this new move changes things up.
Did you know that Vivendi bought up 90% of Daily Motion – one of YouTube’s competitors? Why? Vivendi’s head had this to say:
“The numerous opportunities for collaborations between Dailymotion and Vivendi assets, such as UMG and Canal+ Group, can be deployed rapidly…”
Speaking to investors, the French exec pointed out that Vivendi now owns a 90% stake in YouTube rival DailyMotion, which brings “added visibility for high-quality musical and audiovisual content around the world”.
So now is a great time to be thinking about that Music app you’ve always wanted to build. Or it might be time to start running with that label you wanted to start.
With $7 billion in capital available, I’m sure a lot of talented and smart people in the music business are about to get P.A.I.D…