Vinyl Group Australia Acquires Serenade, Expands Digital Collection Markets To Europe

JAKARTA - Vinyl Group, Australia's only public music company, has acquired Serenade, London's digital and physical collection platform, in an equity-based deal worth 1.6 million US Dollars (approximately IDR 24.2 billion). The move marks Vinyl's strategic expansion into the European market and strengthens its portfolio in the digital collection space.

This acquisition is part of Vinyl's great plan to bring unique experiences to music fans through digital collections and music merchandise. Quoted from Decrypt, Vinyl Group CEO Josh Simons, this acquisition is an important step towards realizing the company's vision. Our plan is always to expand Vinyl.com's offer by including music merchandise, digital collections, and experiences that connect fans with creators," Simons said.

This deal involves an initial payment of 553,000 US Dollars in stock, with an additional 1 million US Dollars in stock that relies on achieving revenue and profit targets before interest and taxes (EBIT) in the next 12 months. The success of this acquisition saw Vinyl's shares jump more than 8% by the weekend, hitting a high price in three weeks at 0.06 US Dollars per share.

Serenade, which operates on the Polygon blockchain, is known as a platform that combines physical collections with digital technology through products called 'Smart Formats'. This product uses NFC (near Field Communication) technology that allows physical collections to connect to digital assets, such as music, exclusive videos, or digital artwork. This technology is increasingly in demand, with sales growth reaching 56% per month since its launch in January 2024.

Serenade has supported more than 200 global artists, including big names such as Liam and Noel Gallagher, Muse, and Sum 41. The platform also has strategic partnerships with major music labels such as the Warner Music Group and the Beggars Group. With a strong footprint in the music industry, Serenade added significant value to Vinyl in strengthening their position in the digital and physical collection markets.

As part of the deal, Serenade CEO Max Shand will join Vinyl Group on a full-time contract. Shand will receive five million stock options that will be awarded in stages according to the achievement of performance targets.

This acquisition also shows how music companies can adapt to changing times, leveraging Web3 and blockchain technology to bring new experiences to music enthusiasts around the world.