ALBANY, New York – Australian music company Mckay Music Company announced Tuesday that it will invest in Coldplay, a British music company owned by Apple Inc., as part of a $20 million investment to expand its music business in New York.
The deal will add to Mckays growing investment in the music industry.
Madison has invested in music companies such as Apple Music, Soundcloud, Pandora, SoundCloud Live, Soundtracks, Mixcloud and the U.S. subscription service Spotify.
The announcement was made at a press conference in New Jersey, where the company will open a new U.N. headquarters.
Mckays investment comes as Coldplay is looking to grow beyond music and into video and interactive content, and also as it seeks to establish itself as a force in the global entertainment industry.