Canada
’s rights society SOCAN has made a major technology investment with the purchase of Seattle-based B2B digital platform and data management company MediaNet. Terms of the acquisition were not disclosed.
Privately-held MediaNet — originally founded as MusicNet in 1999 by EMI, AOL, BMG and RealNetworks — operates a database of over 4.1 million rights holders and their respective works and has developed music and metadata delivery technologies that work with streaming services, download providers, media search, and other media discovery tools. With a catalogue of 51 million sound recordings, MediaNet has powered digital music services worldwide such as Beats Music, Pulselocker, CÜR Music, Songza, Target, and Univision.
Source: Canada’s SOCAN acquires B2B digital platform MediaNet | Music Week