Vinyl Group (ASX: VNL), Australia’s only ASX-listed music company, has finalised its acquisition of Concrete Playground Pty Ltd, a digital city guide operating across Sydney, Melbourne, Brisbane, Auckland, and Wellington.
The move strengthens Vinyl Group’s media and advertising capabilities, expanding its ability to connect brands and agencies with engaged lifestyle audiences through Vinyl Media.
Concrete Playground’s content and audience complement Vinyl Media’s existing go-to-market strategy, broadening its reach while serving a distinct set of clients and briefs.
Under the acquisition terms, Vinyl Group has acquired 100% of Concrete Playground for $4.06 million in cash and $1.5 million in Vinyl Group shares. A portion of the cash consideration, $500,000, has been placed in escrow for 12 months as security under the Share Sale Agreement, while the issued shares – calculated at a 15-day VWAP of $0.1186 per share – are subject to a 12-month escrow period.
Concrete Playground generated over $4.1 million in unaudited revenue over the past year and is projected to contribute at least $1.5 million in EBITDA in CY25. Its integration into Vinyl Media is expected to drive operational efficiencies and accelerate Vinyl Group’s path to positive cash flow, reinforcing its position as a growing player in Australia’s media and entertainment sector.
As part of the transition, Concrete Playground’s founder and CEO, Rich Fogarty, will depart the business. Rich has worked closely with Vinyl Group to ensure a seamless integration of the team and operations.
Josh Simons, CEO of Vinyl Group, said: “Finalising the acquisition of Concrete Playground is another huge milestone for Vinyl Group. Concrete Playground has built an engaged and trusted platform that seamlessly fits into our broader media strategy as part of our new publishing house, Vinyl Media. This acquisition strengthens our media division and unlocks new opportunities for our advertising partners, all while accelerating our timeline to sustained profitability. We’re excited to welcome the team to Vinyl Group and look forward to unleashing our potential together.”
Josh Simons
Rich Fogarty, founder and CEO of Concrete Playground, said: “Selling Concrete Playground is bittersweet, but I couldn’t be more excited for what comes next. What started as a passion project has grown into a leading digital publisher, thanks to an incredible team and a loyal audience who share our love for discovering great experiences. With Vinyl Group now at the helm, Concrete Playground is in excellent hands. Their scale, expertise and vision will open up new opportunities, ensuring the brand continues to thrive and evolve.”
Alongside the completion of its Concrete Playground acquisition, Vinyl Media has signed an exclusive advertising representation agreement with Genius for the Australian and New Zealand markets. Genius, a leading global music knowledge platform, is known for its extensive catalog of lyrics, artist interviews, and cultural commentary, attracting millions of users worldwide.
The partnership expands Vinyl Media’s digital advertising network, providing brands with direct access to Genius’s engaged audience across both markets. The agreement strengthens Vinyl Media’s ability to connect advertisers with music and culture-focused consumers, reinforcing its presence in the digital media and advertising space.
By integrating Concrete Playground and Genius into its portfolio, Vinyl Media continues to build its offering for brands and agencies, leveraging high-engagement content to drive new commercial opportunities in the music and entertainment sectors.
Joel King, COO of Vinyl Group, said: “Our new ad representation deal with Genius reinforces Vinyl Media’s leadership in the music, culture, and entertainment space. We are focused on scaling Vinyl Media’s commercial offering, and this partnership is a testament to that ambition.”
The latest announcement comes off the back of Vinyl Group’s recent launch of Vinyl Media, a premium publishing and culture house for advertisers to engage with audiences across a diverse range of profiles. Key recent appointments have seen Batoul Peters promoted to head of commercial operations, Brad Arnold promoted to head of studio and projects, while Marcus Allen has been promoted to group partnerships manager in Victoria and QLD.
Mediaweek is owned by Vinyl Group.