MRC and Penske Form JV for Data Businesses

Penske Media Corporation (PMC), with publishes titles such as Variety and Rolling Stone, has agreed a 50/50 joint venture with Billboard charts operator MRC, bringing together their data businesses.

The new company move combines MRC Data (formerly Nielsen Music), Alpha Data and Variety Business Intelligence (VBI), and will be led on an interim basis by current MRC Data President Deanna Brown (pictured). The announcement follows two other recent deals between the companies: the formation of JV PMRC Holdings, which brings together The Hollywood Reporter, Variety, Rolling Stone, Billboard, Vibe and Music Business Worldwide; and a content partnership to produce television, film and other formats.

Alpha Data, formerly known as BuzzAngle, offers music analytics tools and a daily reporting service; while VBI, created when Variety acquired research firm TVtracker in 2011, provides the entertainment industry with data for filmed content across the US and internationally; operates entertainment research and information platform Variety Insight; and runs familiarity and appeal metric Vscore.

The new company will provide global data solutions spanning music, film, television and digital media; music charts data expertise; analytics tools and dashboards; domestic and global first-party and aggregated data sets; and expert daily, weekly, monthly analysis and deep dive reports and research capabilities.

In a statement, MRC CEOs Asif Satchu and Modi Wiczyk and PMC CEO Jay Penske said: 'As we compete with industry titans who have an arsenal of data at their fingertips, we're proud our businesses represent the trusted independent source known for delivering comprehensive, timely, and accurate data in entertainment. Data transparency must be a critical component of our industry and our society's future, and this new company will leverage our collective data products, people, and expertise to provide solutions for the global entertainment community'.

Financial terms of the deals were not disclosed. Web sites: www.pmc.com and www.mrcentertainment.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.