Warner Music Group announced that it has acquired the dance-music label Spinnin’ Records, which has one of the top YouTube channels, considering the number of subscribers. Terms of the deal were not disclosed, but Music Business Worldwide said WMG has purchased the label for USD 100 million.
Spinnin’ is based in Hilversum, Netherlands, and it was founded in 1999. According to Social Blade site, Spinnin’ ranked 25 among the top YouTube users by subscribers, with more than 18 million. When considering Spinnin’ as a MCN (Multichannel Network), it is located in the 144th place with more than 9,000 members and more than 600,000 subscribers (last 30 days).
According to a Dataxis report of 2016, Spinnin’ ranked six among all MCNs taking into account the amount of historical visits accumulated. In this way, it reached a 5% share of total number of visits in the region.
In a press release, WMG said that Spinnin’ Records will be run by its co-founder Roger de Graaf as CEO, who will work closely with Bart Cools, WMG’s EVP, Global A&R and Marketing, Dance Music. the label has released music from artists like Martin Solveig, Afrojack, Bob Sinclar and Alok, among others.