Digital music distributor DashGo has been acquired by AdRev, a division of digital licensing firm AudioMicro Inc., which helps artists collect revenue from music used in YouTube videos.
Terms of the deal were not disclosed. DashGo Chief Executive Ben Patterson will remain at the helm and join AdRev’s management team.
DashGo distributes music from its 200,000-song catalog to streaming services and online retailers such as iTunes, Spotify, Pandora, Beats Music and Amazon. The Santa Monica company also handles marketing and growth strategies for music labels and independent artists.
AdRev’s platform helps artists collect compensation when their copyrighted music is used illegally in a YouTube video. The Sherman Oaks music management firm said it represents 6 million music copyrights and monetizes nearly 28 million YouTube videos. Its video network generates nearly 3 billion views a month.
“AdRev's ability to drive growth and roll out product enhancements is impressive, and offers a complementary set of services that combined with DashGo will create the world’s best digital music monetization platform for rights owners,” Patterson said in a statement.
AudioMicro topped the San Fernando Valley Business Journal’s annual list of Fastest Growing Private Companies this year. It saw 936 percent revenue growth between 2011 and 2013.
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