Feed Media Group’s service provides enhanced licensed music content and economics
Strengthens Beachbody’s position as innovative leader in at-home fitness
The Beachbody Company Group, LLC (“Beachbody”), a leader in subscription health and wellness, today announced it made a strategic minority investment in Feed Media Group, the company behind Feed.fm, the leading B2B music licensing subscription service.
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“We’re on a mission to make it easy, fast, and legal for businesses to use music to power great customer experiences”
Through its agreement with Feed.fm announced last month, Beachbody is able to elevate its fitness platforms by implementing an efficient and cost-effective solution that secures broad access to popular licensed music for its live and on-demand content. Beachbody’s minority investment will assist Feed.fm in accelerating new product development to enhance its suite of proprietary music streaming services.
“There’s nothing more powerful than the right music to help you push to the next level of your workout,” said Carl Daikeler, Co-founder, Chairman and CEO of Beachbody. “Feed.fm has built an offering that elevates and differentiates the customer experience while mitigating the costs, risks and barriers associated with commercial music access. Our investment in Feed.fm is not only important for the Beachbody and Openfit platforms, it demonstrates our commitment to invest in innovation that serves the entire fitness industry.”
“We’re on a mission to make it easy, fast, and legal for businesses to use music to power great customer experiences,” said Jeff Yasuda, CEO of Feed Media Group. “In partnership with key players in the music industry, we’re finding new solutions that serve all stakeholders: businesses, rightsholders, and listeners. Beachbody’s deep experience in health and wellness and innovative approach to serving customers are a perfect fit for us as we scale.”
On June 24, 2021, Forest Road Acquisition Corp. (NYSE: FRX) (“Forest Road”) will host a special meeting of stockholders to vote on its proposed merger with Beachbody and Myx Fitness Holdings, LLC (“Myx”). Forest Road’s Board of Directors unanimously recommends that stockholders vote “FOR” the adoption of the merger agreement and the other proposals detailed in the proxy statement/prospectus sent to stockholders. Every stockholder of record as of May 6, 2021 is entitled to vote. Please visit www.votefrx.com for details on how to vote. Upon closing of the business combination transaction, the combined company will be renamed “The Beachbody Company” and be listed on the NYSE under a new ticker symbol, “BODY.”