Music Dealers closes

Music Dealers closes

Sync music licensing company Music Dealers has decided to close. The sudden news, obviosly, hasn’t been very well-received by artists who depended on the company as a source of income. A spokeswoman for the company released a statement, saying:

It is with a heavy heart that Music Dealers has made the difficult decision to discontinue operations. We are proud of all we achieved in our eight years in business and disappointed to be in this position. We remain hopeful and focused on finding a partner who will help revive Music Dealers and once again realize its potential.

Music Dealers was founded in 2008 with only one office in Chicago by Eric Sheinkop; the company soon grew to have offices in Los Angeles, New York, Atlanta, and London. The idea was to be a global music technology solution that would bridge the gap between top brands and independent and emerging artists, combining “the world’s largest, hand-selected catalog of pre-cleared, independent music with an amazing team of music and technology professionals to offer an unprecedented list of music-related services”.
Big name brands would be able to license and distribute digital music to advertising, TV, gaming, and film industries.

In 2011, Music Dealers had formalized a partnership with The Coca-Cola Company, and had successfully raised $9.25 million in funding between 2010 and 2013.