SEATTLE (CelebrityAccess MediaWire) — Content purveyor Getty Images, has announced that its breaking into the commercial music business with the launch of a music licensing operation and the acqusition of Pump Audio for $42 million.
Through their web-based platform, Getty Images can offer pre-cleared music to license for broadcast, film, video, advertising and other digital media projects. The service has partnered Getty with some major players such as Warner/Chappell, Nettwerk Music Group and Lionsgate and offers music both from established artists and up-and-comers.
Getty is looking for similar, flexible content deals with other labels as well, establishing non-exclusive, deals that would allow partners or artists to stipulate what albums or songs they wish to include in the licensing arrangement.
The acqusition of Pump Audio provides a major infusion of content into the service as well, expanding Getty's offerings by more than 100,00 tracks by indie artists
"Getty Images has powered the forward momentum of the visual content industry over the past 12 years, delivering most of the major innovations and bringing new opportunities to our partners and customers. Today there is wide agreement in the music industry that the market for commercial music licensing is fragmented, inefficient and confusing, just as the imagery market once was," said Jonathan Klein, co-founder and CEO of Getty Images. – CelebrityAccess Staff Writers
