Santa Monica-based Songtradr, the largest music licensing platform, has purchased Big Sync Music Ltd., a London-based agency that provides music licensing and rights management services to major brands for advertising campaigns.
Big Sync is the largest global music buyer of its kind. Music is sourced for local, regional and worldwide advertising campaigns on behalf of well-known brands, from Dove, Knorr, Magnum and AXE to Johnnie Walker, Samsung, Amazon and Lipton.
Terms of the cash and equity transaction were not disclosed.
As part of the deal, Big Sync co-founder Unilever Ventures has exited and become a minority shareholder in Songtradr, according to a prepared statement.
Songtradr is the only fully-automated, open music licensing marketplace in the world, with more than 400,000 artists and catalogs from 190-plus countries.
“Big Sync’s global footprint working with major international brands combined with Songtradr’s technology and our growing community of artists, creates an unparalleled music licensing solution for all parties,” said Songtradr founder and Chief Executive Paul Wiltshire, in the statement.
Finance reporter Pat Maio can be reached at firstname.lastname@example.org or (323) 556-8329.
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