GMM Music Valuation, Funding & Investors

GMM Music is valued at $700M as of June 2024.

Last GMM Music valuation

$700M

Strategic investment · Jun 2024

Last GMM Music funding round

$11M

Strategic investment · Aug 2024

Cumulative funding GMM Music raised

$81M

across 2 funding rounds

GMM Music Overview

About GMM Music

GMM Music is a Bangkok-headquartered label under GMM Grammy that produces and distributes Thai pop, rock, and indie music through artists like Bodyslam and Palmy. Established in 1997, it operates streaming on platforms like Spotify and YouTube, manages live concerts at Thunder Dome venue, and licenses content for films and TV series across Southeast Asia.


Founded

1983

HQ

ThailandBangkok

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$700M (Jun 2024)

Sectors

GMM Music Valuation

GMM Music is currently valued at $700M, based on its strategic investment round in June 2024.

The $70M round was led by Tencent and Tencent Music Entertainment.

GMM Music valuation by funding round

GMM Music valuation by funding round
DateStageValuation
Jun 2024Strategic investment$700M

GMM Music Funding History

GMM Music has raised a total of $81M across 2 funding rounds.

GMM Music's first fundraising round was a $70M strategic investment round in June 2024. The most recent completed round was a $11M strategic investment round in August 2024.

GMM Music funding rounds

GMM Music funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2024Strategic investmentWarner Music Group (lead)$11M-On August 14, 2024, Warner Music Hong Kong Limited acquired a 1.50% stake in GMM Music Company Limited for approximately THB 370 million in cash. The transaction was approved by the Board of Directors and shareholders of GMM Grammy Public Company Limited, GMM Music's parent entity. The proceeds from this stake sale were used by GMM Grammy to repay debt. Avantgarde Capital Company Limited served as financial advisor for GMM Grammy in the transaction.
Jun 2024Strategic investmentTencent (lead); Tencent Music Entertainment (lead)$70M$700MGMM Music, a Bangkok-headquartered Thai entertainment company, entered a strategic partnership with Chinese tech giant Tencent and its music streaming subsidiary Tencent Music Entertainment (TME) in June 2024. As part of the agreement, Tencent and TME acquired a 10% stake in GMM Music for $70 million, with the transaction funded through a combination of cash and a minority stake in JOOX Thailand, the company's music streaming app. The deal valued GMM Music at $700 million, marking a significant milestone as the company advanced its plans to spin off from parent company GMM Grammy and list on the Thailand Stock Exchange. GMM Music operates across multiple business segments including music and digital businesses, artist management, and showbiz operations. The partnership with Tencent and TME was designed to enable the company to expand its business, achieve sustainable growth, and invest in music innovations while capitalizing on emerging market opportunities in Asia. The collaboration extended to joint ventures in music and artist co-productions, concert and festival co-creations, and leveraging TME and Tencent's global outreach networks. The investment built upon an earlier strategic alliance between GMM Grammy and Tencent Music from August 2020. GMM Music highlighted the partnership's potential to create a "fandom economy," opening new business opportunities by offering activities and channels that would bring artists and fans together across Thailand, China, and other countries. The deal positioned GMM Music to advance the Thai music industry infrastructure while capturing opportunities in what the company characterized as the second wave of the music industry boom, with revenue surpassing historical highs.

Who has invested in GMM Music?

3 investors have backed GMM Music across its funding rounds, including Tencent, Warner Music Group and Tencent Music Entertainment.

Lead investors include Warner Music Group, Tencent and Tencent Music Entertainment.


GMM Music Investors

Investors in GMM Music by funding rounds participated
InvestorHQRoundsRoleFirst check
TencentChinaShenzhen1LeadJun 2024

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GMM Music Competitors

GMM Music competitors include listed companies like Reservoir Media and YG Entertainment, and private ones like SoundCloud, THEBLACKLABEL, Musicow and Smule.

Public and private companies comparable to GMM Music
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SoundCloudGermanyBerlinPrivate--$700M-
THEBLACKLABELSouth KoreaSeoulPrivate--$680M-
MusicowSouth KoreaSeoulPrivate--$672M-
Reservoir MediaUnited StatesUnited StatesPublicly listed$176M$68M$616M5.9x
SmuleUnited StatesSan Francisco, CAPrivate$101M-$604M6.0x
YG EntertainmentSouth KoreaSouth KoreaPublicly listed$397M$73M$595M1.2x

GMM Music Public Comps

GMM Music is still privately-owned, but its public comps include Reservoir Media, YG Entertainment, Tips Music, JYP Entertainment, Saregama India, Avex, Deezer, HIM International Music, Edel and GMM Grammy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Reservoir Media$176M$68M6.1x5.9x15.7x14.2x
YG Entertainment$397M$73M1.3x1.2x7.1x7.4x
Tips Music$39M$30M21.7x19.3x28.5x27.5x
JYP Entertainment$598M$175M1.1x1.1x3.8x5.4x
Saregama India$100M$36M9.7x8.6x26.8x24.6x
Avex$942M$40M0.2x0.2x3.6x-
Deezer$615M$17M0.2x0.2x8.2x8.0x
HIM International Music$34M$23M2.8x-4.3x-

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Common questions about GMM Music

When was GMM Music founded?GMM Music was founded in 1983.
Where is GMM Music headquartered?GMM Music is headquartered in Bangkok, Thailand.
Is GMM Music publicly listed?No, GMM Music is a private, VC-backed company.
What is GMM Music's valuation?GMM Music was last valued at $700M in its strategic investment round in June 2024.
How much funding has GMM Music raised?GMM Music has raised $81M across 2 funding rounds.
What was GMM Music's last funding round?GMM Music's last funding round was a $11M strategic investment round in August 2024, led by Warner Music Group.
Who are GMM Music's investors?GMM Music's investors include Tencent, Tencent Music Entertainment and Warner Music Group.
Which companies are comparable to GMM Music?Companies comparable to GMM Music include SoundCloud, THEBLACKLABEL, Musicow, Reservoir Media, Smule and YG Entertainment.

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