House music maestro DJ Black Coffee has acquired a significant stake in SA’s largest and oldest independent music label, Gallo Music Investments.
Both parties announced the deal inked through Black Coffee’s investment holding company FlightMode Digital – for an undisclosed amount – in a joint statement on Wednesday afternoon.
This comes after Gallo was in March bought by Lebashe Investment Group from Tiso Blackstar for R75m – incorporating it into news and entertainment business Arena Holdings.
“This is the first of many moves we are working on to change the landscape of both the South African and African music industry,” Black Coffee said.
“The music in the Gallo catalogue is some of the most culturally rich that has ever been created in this country.
“The partnership with Lebashe to invest in the catalogue and masters is more than just a business transaction - it’s about creating an environment in which artists and creatives have a truly equitable stake.
“It is also the beginning of an industry revolution where African artists are part of structures that are fair and encourage new ways to monetise content.”