Buzznet, which recently acquired the music blogs Idolator and Stereogum, recently received a $25 million investment of its own. As it turns out, some or all of that money came from an unlikely source: Universal Music Group.
Billboard confirmed Thursday that the largest record label in the world is a new investor in Buzznet, meaning that Universal Music Group now has an interest in the Idolator and Stereogum blogs.
"UMG is licensing its catalog for full-song streaming and music videos [on the blogs], as well as providing editorial content directly from artists who will participate as guest bloggers," Billboard reported. Buzznet refused to comment on Universal's investment, other than confirming its existence.