Armada Music, the world’s largest independent dance music label, has announced the launch of BEAT (Best Ever Acquired Tracks), the first-ever dance music investment company, with the backing of U.S.-based financial services firm Pinnacle Financial Partners. BEAT intends to invest $100 million in its first two years and acquire and exploit recording and music publishing catalogs in the $9 billion global market. The company’s first acquisitions include KMS Records’ master recordings catalog from Kevin Saunderson, and the acquisition of ARTY’s master and publishing catalog. The goal is to grow its investment to at least $500 million in the coming years.
Maykel Piron, the CEO of Armada Music, created BEAT as an artist-friendly vehicle to unlock value from recordings and copyrights within the dance arena after being pursued by numerous investors as part of the rapidly growing appetite for music catalogs.
The desire to acquire, exploit and breathe new life into classic dance hits also stems from a more romantic vantage point. “It’s a privilege to be working with the tracks that sparked my passion for dance music at an early age,” says Piron. “That passion is still there, and it’s incredibly rewarding to bolster the legacy of major dance hits such as Joe Smooth’s ‘Promised Land’, of which we already acquired the exploitation rights years ago. It adds a new dimension to the work we’re doing with Armada Music, and we’re super excited to bring in more incredible labels, artists and songs to boost and complement our current catalog of 40.000 tracks.”
The initial cornerstones of the BEAT portfolio, Kevin Saunderson’s KMS Records and ARTY’s catalogs, embody its investment in philosophy moving forward. Saunderson is considered to be one of the founding fathers of techno music and KMS has been a staple label in the techno scene for over thirty years. Its catalog includes iconic tracks from Saunderson as well as from Inner City, the Saunderson-led group known for globally acclaimed hits such as ‘Good Life’ and ‘Big Fun’. Both tracks topped the U.S. Dance chart and hit the Top 10 in the UK Singles chart.
Pinnacle Financial Partners holds $42 billion in assets as of Dec. 31, 2022, and operates in twenty primarily urban markets across the Southeast, in addition to operating nationally and internationally in key specialties like music, entertainment and sports. “Pinnacle is honored to begin our relationship with Armada Music in support of their latest venture,” says Brett Ross, Senior Vice President of music, sports and entertainment for Pinnacle Financial Partners. “To be able to partner with Armada Music during their twentieth anniversary is a testament to their leadership, passion and continued support of dance music. These principles, plus the opportunities presented by BEAT, resonated perfectly with Pinnacle and our goal of supporting creative communities across the globe.”
