Jaxsta has changed its name to Vinyl Group.
Shareholders voted to approve the change at the company’s AGM.
The company’s name in its constitution has been amended, while the ticker code will change from JXT to VNL. The ticker code change and company name are expected to be effective on the Australian Securities Exchange (ASX) from the commencement of trading on Tuesday, December 5.
Vinyl Group launches with a pledge to provide tech solutions that connect and give credit to the global creator economy. It will function as an umbrella brand that incorporates the company’s three existing brands: music credits business Jaxsta, music industry social-professional network Vampr and e-commerce platform Vinyl.com.
Vampr has helped 1.3 million musicians, creatives and artists connect in more than 180 countries. Vampr generates its revenues from premium creator subscriptions and native in-app advertising.
The Vinyl.com URL provides an e-commerce platform including over 50,000 titles. Powered by Jaxsta credits, the record store is chart accredited and includes track previews on every album page.
Josh Simons, Vinyl Group CEO, said: “It’s a huge privilege to be able to usher in this new era in the journey of three fantastic businesses, each now residing under the newly rebranded Vinyl Group. This new identity is more than just a name change. It represents a unified vision for our future – a future where our technology and products are more interconnected, offering an enriched experience for our clients and users.
“Through e-commerce, social network platforms and a proprietary database of official credits, Vinyl Group’s suite of transformative products will continue to connect and empower all participants of the music ecosystem. Our unwavering commitment to support artists, power the industry, and engage fans is the driving force behind our efforts.”
Linda Jenkinson,?Vinyl Group chair, said: “The board has backed this new evolution for the company, which sees Vinyl Group launch as a new, global brand dedicated to making, enjoying and monetising music. We are confident that this exciting new era will see three businesses working together to celebrate music, foster relationships and enhance value for Jaxsta, Vampr and Vinyl.com.”
Vinyl Group’s leadership team includes CEO Josh Simons, CFO Jorge Nigaglioni, CMO Alli Galloway, CPO Jessy Trengove, and tech lead Chris Lowe.
Subscribers can read our interview with Josh Simons.