Frank Taubert steps down as CEO of 24-7 Entertainment

23 February 2015 - Press release

Dear Friends,
 
It is with a mixture of sadness, pride and excitement that I am writing to let you know that after 15 years, I have stood down as CEO of 24-7 Entertainment, the company I co-founded 15 years ago in order to pursue some new opportunities in the digital media business.
 
There is sadness, because it always a bittersweet moment when you have to let your 'babies' go, but there is also pride at the huge amount we achieved together at 24-7.
 
Above all I am excited at being able to pursue full-time my interests both in angel investing and consulting a portfolio of digital media companies, although I am delighted to confirm that 24-7 Entertainment's parent company Media-Saturn Holding have asked me to remain in an advisory capacity. It is exciting to be able to assist in the company’s future development.
 
When I first told MSH of my decision to move on some months ago, it was an emotional moment, but when I look back over the past 15 years, my overwhelming emotion is one of pride. I have enjoyed an amazing journey at 24-7 and certainly when we began operations all those years ago, we would not have dreamt that we could accomplish so much:
 
·         We hand-held numerous major corporations in their first steps into the digital world, blue-chip names like  TESCO, 3 Hutchison, CDON (MTG Group), Ex Libris (Migros) and of course Media Saturn;
·         We created the first artist download shops in Europe for worldwide superstars including Phil Collins, Madonna and Red Hot Chili Peppers;
·         We were worldwide pioneers in the development of music subscription services with TDC Play’s original tethered download service (for a time – I think
Daniel Ek was probably still at school!) – we were market leader in digital distribution across the whole of Scandinavia;
·         We developed the largest ever promotion download campaign in Central America together with Modelo Breweries & Sony Music;
·         We pioneered download-to-own in numerous territories;
·         And of course in JUKE we created the first streaming service to be targeted directly at a mainstream market rather than the hardcore music fan, a formula  now operating in six territories;
·         Across these various services we were responsible for delivering more than one and a half billion tracks to music lovers across the world.
 
I would like to thank all of you who helped, inspired and challenged us along the way as we pursued our mission to become Europe's leading B2B provider of digital distribution services. I will always be grateful for your support and the friendships we made along the way.
 
I am moving on at a time when 24-7 is on a high. We have now had three consecutive years of strong growth and in our fiscal year 2014, we achieved the highest revenue in our history. Our parent company is impressed with these developments and I am glad to report that my friend and colleague Erik Dibbern, formerly 24-7 CTO, has stepped up to be CEO. I am sure he will do a great job.
 
Before I sign off, I would like to honour my dear friend Lars Mogensen on whose couch I wrote the business plan for 24-7 fifteen years ago. Lars significantly contributed to the initial funding of the company, he introduced me to Carl to co-found the business and then in 2001, passed away tragically in an airplane crash. Without him there would be no 24-7 Entertainment.
 
Thank you all again & farewell. I am sure we will see each other again soon...
 
Frank