| IDAGIO – Classical Music Streaming Service – Successfully Concludes Insolvency Proceedings |
| – Creditors Approve Insolvency Plan – Jobs Preserved – Acquisition by New Shareholder Imminent – |
| Berlin, November 7, 2025 |
| IDAGIO GmbH, streaming service for classical music, has successfully completed its self-administered insolvency proceedings after roughly four months. The Berlin Charlottenburg Court will shortly lift the proceedings after creditors approved the company’s proposed insolvency plan. This ensures both the continuation of IDAGIO’s comprehensive classical music offering and the preservation of all jobs. “This is very good news for our subscribers and for the entire team,” said Managing Director Erwin Stürzer, who oversaw the self-administration process. He was supported by attorney Olaf Schubert and restructuring expert Dr. Christian Matiebel. The court appointed Dr. Sven Kirchner of the law firm Münzel & Böhm as insolvency monitor. Despite the insolvency, business operations continued without interruption throughout the entire restructuring process. “All parties involved expressed clear support for the business model and made its continuation possible. I am pleased that IDAGIO GmbH can now move forward strengthened by a new shareholder,” Stürzer added. During the proceedings, operational restructuring measures were implemented first, followed by the financial reorganization as part of the insolvency plan. “The creditors unanimously approved the jointly developed insolvency plan during the discussion and voting meeting,” reported Dr. Matiebel. Insolvency monitor Dr. Kirchner added: “I am confident that we have succeeded in securing jobs and ensuring the company’s sustainable continuation.” Following the completion of the insolvency proceedings, Berlin-based music entrepreneur Ki Soo Lee and his business partner Jim Chang from Singapore will take over the company. The entry of the new shareholders opens up new perspectives for IDAGIO’s further development and international expansion. The threatened closure — and with it, potential job losses — has been successfully averted. |
