Songtradr purchases Pretzel, a music licensing platform for live streamers
Songtradr is the world’s current biggest B2B music licensing marketplace. The brand recently announced that they have purchased Pretzel, the first platform to provide stream-safe music for people who are into livestreaming. Pretzel also provides rights holders like artists and labels exposure to millions of highly engaged listeners via live broadcasts. This is the third acquisition of Songtradr in 2021.
“Music and gaming have 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.
In the past year, Pretzel’s monthly recurring revenues have skyrocketed to over 600 per cent, licensing over 6 million tracks from rights holders and also providing more than 12,000 hours of music for monetized streams on Twitch and YouTube. The music catalog of Pretzel is currently being curated and updated by the Pretzel team. This creates an at-scale, stream-friendly music solution for content creators without worrying 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.”
This acquisition by Songtradr is its fourth purchase since the completion of its Series C funding round last July 2020. During this time, the company was able to raise 30 million US dollars. Other companies acquired by Songtradr are Big Sync Music, Cuesongs, and Song Zu.
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