Songtradr Acquires Music Licensing Platform For Live Streamers, Pretzel
PR89104
LOS ANGELES, April 20, 2021, /PRNewswire=KYODO JBN/--
The deal expands Songtradr's rights management capabilities and licensing
footprint
Songtradr, the world's largest B2B music licensing marketplace, announced today
that they have acquired Pretzel, the world's first platform to provide
stream-safe music for livestreamers. In addition to solving live streaming
monetization, Pretzel offers rights holders such as artists and labels exposure
to millions of new, highly engaged listeners through live broadcasts. Pretzel
marks Songtradr's third acquisition of 2021, further enhancing the company's
tech-enabled solutions.
"Music and gaming has always gone hand in hand and gamers are some of the most
engaged and valuable music fans. The explosive growth of lifestyle and gaming
live streams opens up an array of opportunities for our artists and our
clients. We immediately saw the potential for Pretzel's groundbreaking user
experience and rights management technology in our ecosystem and a clear
alignment of vision, values and culture," says Paul Wiltshire, CEO of Songtradr.
Over the last year, Pretzel monthly recurring revenues have increased over
600%, licensing over 6 million tracks from rights holders and currently
providing more than 12,000 hours of music for monetized streams on platforms
such as Twitch and YouTube. Pretzel's music catalog is constantly curated and
updated by the Pretzel team, creating an at-scale, stream-friendly music
solution for content creators without them having to worry about DMCA takedowns
or Content ID strikes.
"We are excited to join one of the fastest growing music tech companies in the
world and continue to innovate new solutions," says Nate Beck, Pretzel
Co-Founder and CEO. "Our goal with Pretzel has always been to allow
broadcasters to stream the music they want to listen to, while compensating
artists, songwriters, record labels and publishers fairly. By joining forces
with Songtradr, we will be able to accelerate our progress, developing a
platform that revolutionizes the way music is licensed."
The Pretzel deal marks Songtradr's fourth acquisition since completion of its
Series C funding round in July 2020 where the company raised US$30M. Other
acquired companies now under the Songtradr umbrella include Big Sync Music,
Cuesongs, and Song Zu.
ABOUT SONGTRADR:
Songtradr is the largest B2B music licensing marketplace in the world,
providing music creators and rights owners with a complete tech-enabled
solution for rights management and monetization while providing B2B music users
such as brands, advertisers, filmmakers, SVOD and broadcast networks, gaming,
streaming and social media platforms with highly-efficient, AI guided access to
music. https://www.songtradr.com/
ABOUT PRETZEL:
Pretzel is the first music streaming service fully licensed for live stream
content creators on platforms such as Twitch and YouTube. Pretzel develops
technology that solves the complexities of multi-party music licensing while
paying royalties efficiently and transparently to rights holders.
Logo - https://mma.prnewswire.com/media/1085219/Songtradr_Logo.jpg
SOURCE: Songtradr
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