In the music industry, no acronym has been spoken of more than ‘SPAC’ this year.
There are special acquisition firms everywhere that are spending huge sums of money, from longtime Geffen Records President Neil Jacobson’s $ 200 million IPO in New York, to Anghami and Reservoir’s respective NASDAQ plans, to SPAC mergers, to buying 10 % of Bill Ackman’s finance company Universal musical group.
Now, a new SPAC available in Europe at over $ 300 million could be another turning point for the music industry.
I2PO, dubbed the “First European Entertainment and Leisure SPAC”, successfully raised $ 275 million through a private unit placement.
She aims to find the ideal investment destination in various entertainment sectors – but has expressly expressed an interest in exploring potential partnerships in the music industry with MBW.
I2PO was founded in 2021 by Iris Knobloch, Combat Holding owned by banker Matthieu Pigasse and Artemis – the holding company of the Pinault billionaire family.
“The value of music, as we have seen it in recent years, has grown, the way to me only leads upwards,” said Iris Knobloch, Chairman of the Board and Chief Executive Officer of I2PO, to MBW.
“We are lucky that we in Europe have our cultural differences in a positive sense [to the US and other parts of the world] – with music that is sometimes very local, but has huge global and pan-European potential. “
Knobloch was previously President of WarnerMedia for France, Benelux, Germany, Austria and Switzerland and stepped down last month after 25 years with the company.
“The value of music as we have seen it in recent years has grown, the way for me only leads upwards.”
Iris Knobloch, I2PO
Knobloch added that it was “extremely positive” that Vivendi later that year decided to publicly list 60% of Universal Music Group in Europe (Amsterdam), and that this move “clearly opens doors for the music industry that may were not like that ”. clear beforehand ”.
She also applauded Believe’s recent IPO on Euronext Paris.
“The value of a listing in Europe is clearly demonstrated by these two listings [Believe and UMG] in Europe, “she said, adding to the music industry,” We see [this] as a real opportunity and we want to get involved in this area. “
Knobloch commented on the company’s intent in a media release announcing the SPAC’s successful increase and IPO plans: [our] global network to join forces with the right company for a long-term value-added partnership and to support its founders and management in order to take their business as a listed company to the next level, ”she said.
I2PO is looking for partners in areas such as music, but also “Streaming & Distribution, Media IP & Services, Gaming & Esports, E-Learning, Leisure Platforms”.Music business worldwide