Warner Music Group has acquired digital media company IMGN Media.
Founded in 2015, and headquartered in New York and Tel Aviv, IMGN will continue to be run by its CEO Barak Shragai, as a stand-alone entity with journalistic autonomy, according to a statement.
IMGN creates and curates shareable social media content on mobile-first platforms. The start-up owns and operates a portfolio of media brands in esports, gaming, entertainment, ASMR (autonomous sensory meridian response) and more.
“WMG not only offers us greater investment and support, but an entrepreneurial environment to continue growing our business, with the people running our accounts having editorial independence,” said Shragai. “We’re excited to partner with them as we take our company into the future.”
The acquisition adds a creative business to WMG’s increasingly diverse portfolio of companies, which generate additional revenue opportunities and provide insight into social media trends.
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