Sony, U invest in 360HipHop

Clothes, culture and politics next for music portal

360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group.

The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam Music Group label is a subsid of UMG.

“Russell has been both a pioneer and a leader in the development of hip-hop culture,” said Larry Kenswil, prexy of online music division eLabs at UMG. “We are very excited about extending our relationship with him to this new venture.”

Beyond music, Simmons wants Gotham-based 360HipHop.com to focus on clothing, culture and political issues. The site currently features a discussion of police brutality circling around the ongoing controversy in Philadelphia.

“With these investments from powerhouse entertainment companies Sony Music Entertainment and Universal, we are in a prime position to dominate the emerging online hip-hop marketplace,” Simmons said.

UMG and Sony have stepped up their online music efforts in recent months, either by starting ‘Net labels or by making investments in Internet companies. UMG bowed FarmClub.com to recruit talent online and Sony has given coin to ArtistDirect, Gig.com and Listen.com.

More Digital

  • Twitter COO Anthony Noto Exits Take

    Twitter COO Anthony Noto Exits to Take CEO Job at SoFi

    360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group. The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam […]

  • Banijay Group Acquires Digital Company Shauna

    Banijay Group Acquires Digital Company Shauna Events

    360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group. The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam […]

  • Netflix Execs Call Film Critics 'Disconnected'

    Netflix Execs Call Critics 'Disconnected' for Bashing 'Bright' Film

    360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group. The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam […]

  • Netflix lobby

    Netflix Execs Say They’re Not Afraid of Disney’s Streaming Service

    360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group. The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam […]

  • Bright Netflix

    Netflix Blasts Past Q4 Subscriber-Growth Expectations, Shares Soar to All-Time High

    360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group. The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam […]

  • Rupert Murdoch

    Rupert Murdoch: Facebook Should Pay Publishers Just as Cable Operators Pay for TV

    360HipHop.com, the music portal launched last month by Def Jam Chairman Russell Simmons, on Wednesday received investments from Sony Music Entertainment and Universal Music Group. The participants declined to reveal the amount of the investment, although it is expected to be sizable because of Simmons’ long-standing ties to the music industry. The Island Def Jam […]

More From Our Brands

Access exclusive content