Vinyl Group (ASX: VNL) has completed the acquisition of Concrete Playground Pty Ltd, a digital city guide operating in Sydney, Melbourne, Brisbane, Auckland, and Wellington.

The acquisition was finalised for a total consideration of $4.06 million in cash and $1.5 million in Vinyl Group shares. The cash component includes a working capital and net debt adjustment, resulting in a net cash outlay of $3.28 million after adjustments.

Concrete Playground, known for its digital city guide services, generated over $4.1 million in unaudited revenues over the past twelve months. It is forecast to contribute at least $1.5 million in EBITDA in the calendar year 2025. Following the acquisition, Rich Fogarty, Founder and CEO of Concrete Playground, will depart the business.

Josh Simons, CEO of Vinyl Group, commented on the acquisition, stating: "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."

Fogarty reflected on the sale, saying: "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."

In addition to the acquisition, Vinyl Media, a division of Vinyl Group, has secured an exclusive advertising representation agreement with Genius for Australia and New Zealand. Genius is a music knowledge platform known for attracting millions of users globally through its artist interviews, lyric breakdowns, and cultural commentary.

Joel King, COO of Vinyl Group, remarked on the new partnership: "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."

Vinyl Group is an ASX-listed music company with a diverse portfolio that includes Vinyl.com, Vampr, Jaxsta, and Serenade. Vinyl Media, a part of Vinyl Group, operates Concrete Playground, Mediaweek, and Tone Deaf, and licenses Rolling Stone, Refinery29, and Variety mastheads in Australia.

The company has also announced key promotions within Vinyl Media. Batoul Peters has been appointed as Head of Commercial Operations, Brad Arnold as Head of Studio & Projects, and Marcus Allen as Group Partnerships Manager in Victoria and Queensland.