Penske Media Buys Into Music Charts Firm BuzzAngle

Media Group Penske, the owner of 'Rolling Stone' and 'Variety' magazines among others, has invested in and partnered with music analytics service BuzzAngle, which tracks the daily sales, streaming and airplay activity of albums, songs and artists.

BuzzAngle was launched in 2016 after a three year development phase by Border City Media founder Jim Lidestri. Penske Media now plans to make use of its key titles to raise the profile and extend the influence of the BuzzAngle charts, and to expand its offering to include charts for specific content verticals - as well as giving it a financial platform for growth.

Founder and Chairman Jay Penske says of the deal: 'We're thrilled to announce our investment in BuzzAngle, and partnership with Jim and the team. BuzzAngle has already accomplished many milestones - but as part of this new alliance, we will jointly push even more aggressively to make the charts an essential and central part of music, media and the entertainment industry'. Describing Penske as 'the perfect partner', Lidestri adds: 'The needed funding will accelerate product development and the reach of Variety and Rolling Stone will provide an unparalleled ability to bring charts and data analysis both to the music industry and to music fans worldwide'.

Web sites: www.buzzanglemusic.com and www.pmc.com .