The global leader in B2B music licensing, Songtradr, has reportedly purchased Pretzel, the first-ever platform to offer stream-safe music for live streamers. This marks its third acquisition of 2021 and was executed in a bid to further enhance the company's tech-enabled solutions.
For the record, Pretzel grants rights holders, like artists and labels with exposure to numerous new and highly engaged listeners with the help of live broadcasts, apart from solving live streaming monetization.
In a statement by the CEO of Songtradr, Paul Wiltshire, the tremendous growth of lifestyle as well as gaming live streams have opened an array of opportunities for their artists and clients. He hinted at the close connection between music and gaming by stating that gamers rank among the most engaged and valuable music fans. He further mentioned that Pretzel has extreme potential in delivering groundbreaking user experience as well as rights management technology into their ecosystem with a clear alignment of values, vision, and culture.
Monthly recurring revenues for Pretzel have apparently increased over 600% in the last year, on account of licensing nearly 6 Mn tracks from rights holders, and presently providing over 12,000 hours of music to monetized streams on platforms, including Twitch and YouTube.
Pretzel's music catalog is continuously curated as well as updated by the Pretzel team, who create stream-friendly music solutions for content creators at scale, in an effort to limit their worries regarding DMCA takedowns or Content ID strikes.
According to the Co-Founder and CEO of Pretzel, Nate Beck, the company is excited to team up with the fastest-growing music tech leader across the world to continue innovating new solutions. He revealed that the company is always aimed at allowing broadcasters to stream music as per their listening preferences, whilst offering fair compensations to artists, songwriters, record labels, and publishers. The CEO concluded that the collaboration with Songtradr would assist them in accelerating their progress by developing a revolutionary music-licensing platform.