Songtradr Acquires Music Licensing Platform Pretzel
Songtradr, one of the largest B2B music licensing marketplace, has acquired Pretzel, the world’s first platform providing stream-safe for an undisclosed amount.
In addition to solving live streaming monetisation, Pretzel will now offer rights to its artists and labels exposure to millions of new listeners through live broadcasts.
“Music and gaming has always gone hand in hand, and gamers are some of the most engaged and valuable music fans.
“The rapid growth of lifestyle and gaming live streams opens up an array of opportunities for our artists and our clients,” Songtradr founder and CEO Paul Wiltshire (pictured above) said in a statement.
Over the last year, Pretzel monthly recurring revenues have increased over 600 per cent, licensing over six million tracks from rights holders and currently providing more than 12,000 hours of music for monetised 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.
“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,” said Pretzel Co-Founder and CEO Nate Beck.
“By joining forces with Songtradr, we will be able to accelerate our progress, developing a platform that revolutionised the way music is licensed.”
The Pretzel deal marks Songtradr’s fourth acquisition since completion of its Series C funding round in last July where the company raised US$30M.
Other acquired companies now under the Songtradr umbrella are Big Sync Music, Cuesongs, and Song Zu.
Songtradr is an American-headquartered automated music licensing marketplace, which as of 2019 had 400,000 artists using the platform in about 190 countries.