Nettwerk Music Raises $10.25 Million For Artist Development

Terry McBride, founder of Nettwerk Music Group, says his company
has raised a fresh round of $10,25 million in equity growth financing, and are on the
lookout for projects and new artists to develop. This latest  financing includes investments from HBC
Investments, as well as additional investment from current shareholders
Beedie Capital ands Nettwerk’s four founding partners: Terry
McBride, Ric Arboit, Dan Fraser and Mark Jowett.

McBride indicated that the company will use the infusion of capital for
developing both new and existing artists on their roster, as well
expanding music licensing opportunities for their current catalog. In
addition, McBride said Nettwerk would continue to be an active acquirer
of catalogue music rights.

"Nettwerk for the past few years has been growing at a very good rate,"
McBride told the Vancouver Sun. "We're having a lot of success right
now. Being a better capitalized company allows us to take better
opportunities versus having to live off our own cash flow. So this is me
seeing that the time is right to do this and grow the company rapidly."

Nettwerk has been having some success of late with new artists on their
roster, including chart-toppers fun., Chinese singer/songwriter Wanting
Qu, and Australian singer-songwriter Passenger. Other additions to
Nettwerk's roster this year include BOY, Savoir Adore, The Paper Kites
and The Pack A.D.

Originally founded in 1984, Nettwerk has been involved in the careers of
major artists, including Avril Levigne Sarah McLachlan, with whom they
partnered in the hugely successful Lilith Fair touring festivals from
1997-99. Nettwerk also played a key role in bringing Coldplay to North
America, releasing their first album "Parachutes" domestically in 2000.

However, in recent years, McBride and Nettwerk have seen some setbacks,
including the disastrous resurrection of the Lilith Fair in 2010 as well
as the departure of long-time management clients Avril Levigne and
Sarah McLachlan in 2008 and 2011 respectively.

Still, McBride seemed sanguine about these setbacks, telling the
Vancouver Sun that moving away from management duties has opened the
door to new opportunities.

"It was the final shift to free up my time, frankly," McBride said.
"Would we be having the success we're having with Wanting and Passenger
if I'd been locked up as a manager? Probably not." – via CelebrityAccess

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