Lickd secures new round of investment for £5.1m
Lickd, a global service for providing video creators with access to chart music, has today announced that it has closed its latest round of investment, securing £5.1m in funding. Led by the Nick Mason Group, the round also includes strategic investment from both Warner Music Group (WMG) and Epic Games, creator of Fortnite.
In addition to being given access to not only funding, but to some of the best minds in the entertainment world, Lickd’s deal with WMG specifically will see it make its full catalogue of millions of songs available to content creators, further expanding Lickd’s library of tracks.
With more than a billion hours of video uploaded to YouTube every day, with 50 million YouTubers uploading video content to the platform and with the number of channels earning six figures growing by 40% year on year, there is a huge addressable market of creators looking for music, presenting a clear engagement opportunity for all parties.
Over the last 18 months Lickd has grown at an incredibly fast pace, signing partnership agreements with both WMG and Universal Music Group (UMG) in addition to a number of other leading brands in the content and entertainment space, including Epic Games. This series of funding will not only enable Lickd to amplify its commercial song library – providing greater value to its content creators – but it will allow the company to continue to build its technology offering, its international footprint and its customer base.
Paul Sampson, CEO of Lickd commented: “We are thrilled to have closed this round at what is a pivotal time for Lickd. As the content creator space continues to expand, there is a huge opportunity for all types of business to invest in new areas and to work hand-in-hand with companies such as ours to positively transform the music industry. The ongoing support of the Nick Mason Group, combined with Epic and Warner coming on board, delivers a win-win for all – for Lickd as we continue to expand, for the creators who want commercial music to better monetize their content, for the artists who want to be paid fairly for their work and for the broader ecosystem as we create new ways to grow.”
Nick Mason added: “We invest in companies that combine transformational technology with strong industry knowledge, which Lickd has proven it has from the outset. Having these strategic partnerships in place from leading brands in the entertainment space is testament to both Lickd’s proposition and to its clout in the music and creator space. We are excited to be able to continue to support Paul and team and to remain a part of the company’s future.”