Last Updated on: 22nd November 2023, 02:22 pm
ROXi Music, the British company behind the innovative music entertainment console ROXi, today announces it has appointed advisors for a floatation on the London Stock Exchange AIM market in Q4 2019.
The decision to IPO the business follows ROXi Music’s successful Q4 2018, which saw exceptionally strong UK growth following its effective direct response TV ad campaign, which features Sheryl Crow and Alesha Dixon.
The company confirms the following appointments:
- Arden Partners have been appointed as the company’s investment bank, broker and NOMAD. Arden Partners credentials in the music entertainment sector include acting as Nominated Advisor and Sole Broker to EVR Holdings (EVRH), the owner of MelodyVR the market leader for music entertainment in virtual reality.
- Fladgate have been appointed lawyers to manage the IPO. Fladgate previously advised leading UK-based eSports company Gfinity PLC (GFIN).
- Hays Macintyre have been appointed as auditors for the IPO. Hays Macintyre specialise in the creative, media and technology industries and have strong experience of the AIM market.
Rob Lewis, CEO of ROXi Music stated, “ROXi Music’s unique music entertainment console is a hit with consumers, offering a wide range of fun music entertainment from our own fully licensed unlimited music catalogue of over 35 million songs, to karaoke, and from music games, to audio visual experiences for yoga and meditation, all at an exceptionally low price. As the sole UK company offering full catalogue music streaming services, an IPO on AIM will enable ROXi Music to scale up the business and take our successful product international, ensuring the UK’s place in the next stage of the digital music revolution.”
The IPO will enable the company to significantly expand its UK and US DRTV marketing campaigns and develop a new range of music entertainment products and services focused on bringing friends, families and loved ones together through a shared music experience in the home.
The announcement comes just weeks after Goldman Sachs reported that the number of music streaming subscribers would increase from almost five-fold from 250 million to 1.15 billion worldwide over the next 10 years, and that lower ARPU older family-focused consumers, exactly those targeted by ROXi, represent the biggest growth opportunities. ROXi Music is one of only 10 companies in the world with global music streaming rights along with the likes of Apple, Google, Amazon and Spotify.
Lewis added, “There is a whole generation of consumers who want a shared music entertainment experience that can bring friends, families and loved ones together, as an antidote to small screen and social media addiction. That’s exactly what ROXi is bringing into the home and why it has proven to be such a hit with consumers.”
Investment bank Arden Partners CEO, Donald Brown stated, “ROXi Music is a company with strong management, great backers, a differentiated product and a vast global market opportunity. We are absolutely delighted to be working with the ROXi Music team on as it heads to an IPO on the London Stock Exchange”
ROXi Music’s shareholders include:
- Rob Lewis (Founder CEO, who previously founded the Europe’s first mobile music streaming service 15 years ago)
- Robbie Williams (ROXi Curator)
- Sheryl Crow (ROXi Curator)
- Alesha Dixon (ROXi Curator)
- Henrik Holmark, previously CFO/Director, Pandora
- Nigel Wray, Domino’s Pizza entrepreneur, Owner of Saracens and small cap investor
- Peter Cornell, previously MD of Terra Firma
- Paul McGuiness, Previously Manager, U2
- Mark Gretton, Previously CTO, TomTom
- Rob Dickins, Founder, The BRITS
- Yolo Leisure & Technology PLC
- Universal Music Group
- Sony Music Entertainment
- Warner Music Group
- MERLIN
ROXi provides a fun ‘made for TV’ music entertainment experience for the home that’s easy to setup and use irrespective of technical ability. Designed to get users singing, dancing and listening to music together in the home, the ROXi console plugs into any flat screen TV and also works with any speakers available providing an immersive on-screen user experience. With its motion sensitive hand-held controller with built-in microphone, ROXi lets users control their music experience with their voice, streaming millions of songs, singing karaoke, playing music games and more.
