Wall Street
The Latest Funding Round: Audible Magic, $1.28 Million…
Sidelined cash is increasingly coming into the game, and a number of music- and media-related companies are benefiting. That includes fingerprinting and identification firm Audible Magic, which recently rustled a $1.28 million round. The round first surfaced in an SEC filing, dredged by paidContent.
Florida Silicon Partners and Tierra Del Oro are likely suspects in the round, and Audible plans to boost product development and expansion. Among other clients, Audible Magic powers a content identification and compensation program for YouTube, a plan that includes major labels. That has helped to reshape the relationship between Google and the majors, though the chaos of YouTube remains incredibly difficult for companies like Warner Music Group to control.
Report by Alexandra Osorio.