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- GMM Music
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
Key investors in GMM Music
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
Website
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
| Date | Stage | Valuation |
|---|---|---|
| Jun 2024 | Strategic 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
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2024 | Strategic investment | Warner 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 2024 | Strategic investment | Tencent (lead); Tencent Music Entertainment (lead) | $70M | $700M | GMM 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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Lead | Jun 2024 | ||
This data is available for Pro users. Sign up to see all 3 GMM Music investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialGMM Music Competitors
GMM Music competitors include listed companies like Reservoir Media and YG Entertainment, and private ones like SoundCloud, THEBLACKLABEL, Musicow and Smule.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $700M | - | ||
| Private | - | - | $680M | - | ||
| Private | - | - | $672M | - | ||
| Publicly listed | $176M | $68M | $616M | 5.9x | ||
| Private | $101M | - | $604M | 6.0x | ||
| Publicly listed | $397M | $73M | $595M | 1.2x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $176M | $68M | 6.1x | 5.9x | 15.7x | 14.2x | |||
| $397M | $73M | 1.3x | 1.2x | 7.1x | 7.4x | |||
| $39M | $30M | 21.7x | 19.3x | 28.5x | 27.5x | |||
| $598M | $175M | 1.1x | 1.1x | 3.8x | 5.4x | |||
| $100M | $36M | 9.7x | 8.6x | 26.8x | 24.6x | |||
| $942M | $40M | 0.2x | 0.2x | 3.6x | - | |||
| $615M | $17M | 0.2x | 0.2x | 8.2x | 8.0x | |||
| $34M | $23M | 2.8x | - | 4.3x | - | |||
This data is available for Pro users. Sign up to see all GMM Music competitors and their valuation data. Start Free Trial | ||||||||
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. |
See companies similar to GMM Music
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