Nick Phillips, the chief executive of Entertainment Rights, has spent £36,000 on shares in the company, according to Sharecast.
Phillips took 500,000 shares in the company at 7.2 pence each. He previously had no stake.
In May, chairman Rod Bransgrove bought 550,000 shares at 9.3 pence, lifting his interest to 19.7 million or around 2.7 per cent of the business.
Phillips joined Entertainment Rights in March, following previous spells as chairman and chief executive of Warner Music UK and Universal Music UK.