MAMA Grows Its Nettwerk

MAMA Group has taken a couple of steps closer to the proverbial 360-degree business model by buying a 20 percent stake in Canada’s multi-faceted Nettwerk Companies and teaming with an Irish mobile ticketing firm.

The AIM-listed U.K. company has put in US$6 million in cash and shares for Nettwerk, which operates management, publishing and record label businesses, with a promise of another US$8 million if it reaches two-year profit targets.

Nettwerk Companies has a management roster that includes Avril Lavigne, Barenaked Ladies, Sarah McLachlan, Gogol Bordello and Stereophonics.

Nettwerk has offices in Vancouver, New York, Los Angeles, London, Boston, Nashville and Hamburg.

"We are looking forward to working with MAMA to continue to create the most innovative and exciting music company in the industry today," Nettwerk CEO Terry McBride said in a statement. "We believe that this alliance will make us the most attractive home for music artists."

Among MAMA’s holdings are SuperVision Management, which represents Kaiser Chiefs and Franz Ferdinand; a raft of London’s old Mean Fiddler venues it bought from Live Nation and Denis Desmond’s LN-Gaiety; Hammersmith Apollo, which LN had to sell to comply with U.K. monopolies law; London’s Barfly and 10 regional venues under the same name.

MAMA co-chief execs Adam Driscoll and Dean James described the alliance as "one of the most exciting opportunities in the music industry." They said they expect to see a return on the investment in the next financial year.

The tie-up has created one of the world’s largest management rosters, with more than 60 major recording artists, although Driscoll and James are focusing on "combining our skills and assets to become the best."

The second deal is with Ticket Text, a Dublin-based technology company that provides a mobile event ticketing service. It will provide mobile ticketing for its 18 venues across the U.K.

Using Ticket Text’s mobile technology, customers receive tickets as unique barcodes sent via text message straight to their mobile phone.