(Hypebot) — UMG and Jimmy Iovine-backed live-video shopping platform NTWRK will acquire media company Complex to create a music and culture superfan destination.
Main Street Advisors and Goldman Sachs have also invested in the project.
NTWRK’s e-commerce platform, which is anchored in sneakers, streetwear, and collectibles, will be combined with music and content from Complex to create a digital hub serving superfans and artists, regardless of their label affiliation.
“Combining the power and reach of Complex with the NTWRK engine serving creators across music, fashion, and art will be transformative for the next generation of consumer technology,” said Jimmy Iovine, founder of Interscope Records and Beats by Dre and the co-founder of NTWRK.
Post Malone, Lewis Hamilton, BLACKPINK, and Takashi Murakami are among the earlier adopters.
While open to all artists, Interscope Geffen A&M (IGA) and Capitol Music Group will be the first Universal Music Group labels to collaborate with the new company.
“Complex has been a beacon of culture and innovation for over two decades,” said Aaron Levant, NTWRK cofounder and the new CEO of Complex. “My journey with Complex began as an admirer of their original magazine in 2002, and it has now come full circle as I step into the leadership role. Alongside this impressive team, we will create the definitive global content, commerce, and experiential platform of convergence culture.”
Bruce Houghton is the Founder and Editor of Hypebot, a Senior Advisor at Bandsintown, President of the Skyline Artists Agency, and a Berklee College Of Music professor.
