UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


	SCHEDULE 13G
	(Rule 13d-102)
	Information Statement Pursuant to Rules 13d-1 and 13d-2
Under the Securities Exchange Act of 1934*


Platinum Entertainment, Inc.


(Name of Issuer)


Common Stock, par value $.001 per share


(Title of Class of Securities)


727909-10-3



(CUSIP Number)


*The remainder of this cover page shall be filled out for a reporting person's
 initial filing on this form with respect to the subject class of securities,
 and for any subsequent amendment containing information which would alter
 disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act(however, see the Notes).


SCHEDULE 13G

CUSIP No. 727909-10-3							Page 2 of 7 Pages

1	NAME OF REPORTING PERSON
	S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS

		Steven D. Devick


2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                        (a) _
	Not Applicable						(b) _


3	SEC USE ONLY






4	CITIZENSHIP OR PLACE OF ORGANIZATION

	United States


NUMBER OF 
SHARES 
BENEFICIALLY 
OWNED BY 
EACH 
REPORTING 
PERSON WITH

5	SOLE VOTING POWER

	1,137,283(a)	


6	SHARED VOTING POWER

	56,250(b)	


7	SOLE DISPOSITIVE POWER

	1,137,283(a)	


8	SHARED DISPOSITIVE POWER

	56,250(b)		

9	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

	1,193,533(a)(c)


10	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN 
	SHARES*	_

	No


11	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

	15.9%


12	TYPE OF REPORTING PERSON*

	IN



	*SEE INSTRUCTIONS BEFORE FILLING OUT!




(a) Includes 894,744 shares which Mr. Devick has the right to acquire
    pursuant to the exercise of vested stock options held by Mr. Devick.

(b) Represents 56,250 shares which Mr. Devick has the right to purchase
    pursuant to the exercise of a warrant to purchase Common Stock held in the
    name of Platinum Venture Partners II, L.P. ("PVP II").  Mr. Devick is an
    executive officer of the general partner of PVP II.  In such capacity, Mr.
    Devick may be deemed a beneficial owner with respect to Common Stock held
    by PVP II.

(c) Includes 56,250 shares held by PVP II.  


SEC 1745(2-95)								Page 4 of 8

Item 1(a)	Name of Issuer:

			Platinum Entertainment, Inc.

Item 1(b)	Address of Issuer's Principal Executive Offices:

			2001 Butterfield Road
			Downers Grove, Illinois 60515

Item 2(a)	Name of Person Filing:

			Steven D. Devick

Item 2(b)	Address of Principal Business Office or, if None, Residence:

			2001 Butterfield Road
			Downers Grove, Illinois 60515

Item 2(c)	Citizenship:

			United States

Item 2(d)	Title of Class of Securities:

			Common Stock, par value $.001 per share

Item 2(e)	CUSIP Number:

			727909-10-3

Item 3.		Type of Person:

			Not Applicable

SEC 1745(2-95)							Page 5 of 8


Item 4.		Ownership:

		(a)	Amount Beneficially Owned:

			 1,193,533 (1)(3)

		(b)	Percent of Class:

			    15.9% (1)

		(c)	Number of shares as to which person has:

			(i)	Sole power to vote or to direct the vote:
				1,137,283 (1)

			(ii)	Shared power to vote or to direct the
				vote:  56,250 (2)   

			(iii)	Sole power to dispose or to direct the
				disposition of:  1,137,283(1)

			(iv)	Shared power to dispose or to direct the
				disposition of: 56,250 (2)   

_________________

(1)	Includes 894,744 shares which Mr. Devick has the right to acquire pursuant
 	to the exercise of vested stock options held by Mr. Devick.

(2) Represents 56,250 shares which Mr. Devick has the right to purchase
    pursuant to the exercise of a warrant to purchase Common Stock held in the
    name of Platinum Venture Partners II, L.P. ("PVP II").  Mr. Devick is an
    executive officer of the general partner of PVP II.  In such capacity, Mr.
    Devick may be deemed owner with respect to Common Stock held by PVP II.

(3) Includes 56,250 shares held by PVP II.

SEC 1745(2-95)								Page 6 of 8

Item 5.		Ownership of Five Percent or less of a Class:

			Not Applicable

Item 6.		Ownership of More than Five Percent on Behalf of
            Another Person:

			Not Applicable

Item 7.		Identification and Classification of the Subsidiary
            Which Acquired the Security Being Reported on By
            the Parent Holding Company:

			Not Applicable

Item 8.		Identification and Classification of Members of the
            Group:

			Not Applicable

Item 9.		Notice of Dissolution of Group:

			Not Applicable

Item 10.	Certification:

			Not Applicable

SEC 1745(2-95)							Page 7 of 8

	SIGNATURE

	After reasonable inquiry and to the best of my knowledge and belief, I 
certify that the information set forth in this statement is true, complete and
correct.

							Date:  February 16, 1999


							/s/ STEVEN D. DEVICK	
							    Steven D. Devick





sec 1745(2-95)							Page 8 of 8