Australia’s only ASX-listed music company Vinyl Group Ltd has completed its acquisition of Concrete Playground Pty Ltd, a leading digital city guide operating in Sydney, Melbourne, Brisbane, Auckland and Wellington.
The acquisition expands Vinyl Group’s media and advertising reach, strengthening its ability to serve brands and agencies through Vinyl Media.
Concrete Playground’s lifestyle content and engaged audience align with Vinyl Media’s strategy, providing access to new clients and commercial opportunities.
“Finalising the acquisition of Concrete Playground is another huge milestone for Vinyl Group," Vinyl Group CEO Josh Simons said. "Concrete Playground has built an engaged and trusted platform that seamlessly fits into our broader media strategy as part of our new publishing house, Vinyl Media.”
“This acquisition strengthens our media division and unlocks new opportunities for our advertising partners all while accelerating our timeline to sustained profitability. We’re excited to welcome the team to Vinyl Group and look forward to unleashing our potential together.”
Completed for $4 million cash
Under the finalised terms, Vinyl Group acquired 100% of Concrete Playground for $4.06 million in cash and $1.5 million in Vinyl Group shares.
The cash component includes a working capital and net debt adjustment, with an expected cash balance of $780,000, reducing the net outlay to $3.28 million.
A final adjustment will be reviewed within 20 days. The scrip component, based on a 15-day volume-weighted average price (VWAP) of $0.1186 per share, will see 12,647,554 fully paid ordinary shares issued, subject to a 12-month escrow period.
Additionally, $500,000 of the cash consideration is held in escrow for 12 months as security against claims under the share sale agreement.
Concrete Playground generated more than $4.1 million in unaudited revenue over the past 12 months and is forecast to contribute at least $1.5 million in EBITDA in 2025. Integrating the business within Vinyl Media is expected to enhance operational efficiencies and accelerate Vinyl Group’s path to positive cash flow.
As part of the transition, Concrete Playground’s founder and CEO Rich Fogarty will depart after facilitating the integration.
“Selling Concrete Playground is bittersweet, but I couldn’t be more excited for what comes next. What started as a passion project has grown into a leading digital publisher, thanks to an incredible team and a loyal audience who share our love for discovering great experiences," Fogarty said.
"With Vinyl Group now at the helm, Concrete Playground is in excellent hands. Their scale, expertise and vision will open up new opportunities, ensuring the brand continues to thrive and evolve.”
Building Vinyl’s advertising network
Vinyl Media has also secured an exclusive advertising representation agreement with Genius for Australia and New Zealand. Genius, a global music knowledge platform, attracts millions of users and is a premier destination for artist interviews, lyric breakdowns, and cultural commentary.
This agreement strengthens Vinyl Media’s advertising network, providing brands in Australia and New Zealand with direct access to Genius’s premium audience.
“Our new ad representation deal with Genius reinforces Vinyl Media’s leadership in the music, culture, and entertainment space. We are focused on scaling Vinyl Media’s commercial offering, and this partnership is a testament to that ambition,” King said.
The announcement follows the launch of Vinyl Media, a premium publishing and culture house connecting advertisers with diverse audiences. Recent key promotions include:
- Batoul Peters – promoted to Head of Commercial Operations.
- Brad Arnold – promoted to Head of Studio & Projects.
- Marcus Allen – promoted to Group Partnerships Manager, Victoria and Queensland.
- The latest developments position Vinyl Group for further expansion in the digital media and advertising landscape.
About Vinyl Group
Vinyl Group operates at the intersection of technology and media, delivering solutions that connect music creators, fans and brands within a global ecosystem. The company’s portfolio spans multiple touchpoints across the industry, supporting creators and consumers.
Its assets include Vinyl.com, a leading e-commerce platform offering more than 50,000 music titles; Vampr, a social-professional network and talent marketplace with 1.4 million creators across more than 180 countries; Jaxsta, the world’s largest verified music credits database, featuring over 380 million records; and Serenade, a Web3 platform for physical and digital collectibles, supporting more than 200 global artists.
Additionally, Vinyl Media, the company’s publishing division, produces premium content, cultural insights, and live experiences. It operates Mediaweek and Tone Deaf while also holding licensing rights for the Australian editions of Rolling Stone, Refinery29 and Variety.