Rhapsody International names Mike Davis as CEO

PRESS RELEASE:

Davis joins Rhapsody after six months of rapid development to enhance the way subscribers listen to music with Rhapsody. In addition to a complete redesign of the mobile app, Rhapsody released key new features, including Rhapsody KIDS, the first streaming music service designed specifically for kids, and the Listener Network, which allows Rhapsody subscribers to match music tastes with other subscribers around the world. These features have already driven a major impact on how subscribers are using Rhapsody. Globally, listening hours have increased by 15 percent in the past 90 days and the number of hours subscribers listen to music with Rhapsody’s mobile apps is up nearly 40 percent in the last year.

“I am thrilled to join Rhapsody at such a dynamic time for both the company and the music industry,” said Mike Davis, chief executive officer, Rhapsody International. “For 15 years, Rhapsody has led innovation in streaming music and remains a best-in-class streaming music service. Thanks to the biggest and best partners in the world and a roadmap of innovative new features, we are primed for continued global growth during one of the most pivotal years in music.”

Most recently, Davis served as both a TPG growth advisor and senior operating consultant for The Gores Group. Prior to that, he held a number of C-level private equity portfolio positions across a variety of industries, including CEO of Alliance Entertainment (Platinum Equity & The Gores Group), CEO of Gavin De Becker & Associates (TPG Growth) and chief commercial officer for Cinram (The Najafi Companies). At each company, Davisbuilt new and diverse revenue streams while strengthening the company’s core business. Before his tenure as a private equity CEO, he served as executive vice president and general manager of Universal Music Enterprises (UMe), leading the content and distribution (UMGD) divisions.

“Napster changed the way we enjoy music forever and we are now seeing how subscription music – a concept Rhapsody pioneered – is emerging as the future of music,” Davis said. “I look forward to building on Rhapsody’s success and making it easier for people to enjoy the music they love.”