SESAC Expands Beyond Performance Rights, Acquires Rumblefish…
Performance rights organization SESAC just announced some major executive switch-ups. This includes a long time board member becoming Chairman and CEO, and a new President / CEO of their Performance Rights division. This is part of a larger company change in strategy.
SASAC will expand beyond performance rights to represent “multiple rights in numerous territories“. As part of their new strategy, they have acquired micro-licensing service Rumblefish for an undisclosed amount.
Rumblefish powers stock music offerings for YouTube, Vimeo, Shutterstock, and more. They issue 50,000 micro-licenses every day and have a library of 5 million works.
SESAC will put growth capital into Rumblefish so they can expand. Rumblefish will become an independent subsidiary of SESAC. Rumblefish’s President/CEO will now report to SESAC’s new Chairman and CEO, John Josephson.
Earlier this year, Billboard reported that Rizvi Traverse (SESAC’s parent company) had submitted a bid to acquire the Harry Fox Agency for a possible $40 million.