Independent music distribution and marketing platform Intercept Music has secured $50 million in funding, with which it plans to acquire “US and Latin music catalogs”.<\/p>\n
The company says it plans to start deploying the capital \u201cimmediately\u201d and already has several initial potential acquisitions \u201cunder review.\u201d<\/p>\n
The three-year-old startup said it raised the capital through a private partnership, but didn\u2019t disclose the partners involved, other than to say that Intercept founder and Chairman Ralph Tashjian is a \u201cco-investor\u201d and strategic advisor in the partnership.<\/p>\n
“This is a bold statement about Intercept’s vision for the future of music catalog management,” Tashjian said in a statement issued on Tuesday (May 6).<\/p>\n “By pairing institutional-grade funding with our technology driven distribution and marketing platform, Intercept is establishing a new standard for how catalogs are valued, managed, and monetized.”<\/p>\n The company said it\u2019s focusing on acquiring \u201ccatalogs with untapped or under-leveraged revenue potential\u201d and using its proprietary technology, predictive analytics and marketing portal to increase the music\u2019s earnings and audience reach.<\/p>\n The new funding will also be used to expand Intercept\u2019s catalog management operations.<\/p>\n “This is more than just a funding deal \u2013 it’s a commitment to restructuring music rights management,” Intercept CEO Tod Turner said.<\/p>\n “By pairing institutional-grade funding with our technology driven distribution and marketing platform, Intercept is establishing a new standard for how catalogs are valued, managed, and monetized.”<\/p>\n Ralph Tashjian, Intercept Music<\/span><\/p><\/blockquote>\n “This partnership is a significant endorsement of our platform and strategy allowing us to combine capital with cutting-edge technology to unlock more value for artists, songwriters, and catalog owners, while accelerating our growth into the Latin and US markets.”<\/p>\n