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Google Inc’s YouTube online video division has acquired RightsFlow, a firm that manages royalty payments for songwriters and music publishers, for an undisclosed amount.
Founded in 2007, RightsFlow handles licensing rights for more than 30 million songs.
“We are excited to announce that we have acquired RightsFlow, a New York-based company that helps songwriters, recording artists, record labels, distributors and online music services manage music rights,” YouTube Product Manager, Mr David King, said in its blog yesterday.
However, financial terms of the deals were not disclosed.
The deal would help video-sharing service YouTube to efficiently license music.
“By combining RightsFlow’s expertise and technology with YouTube’s platform, we hope to more rapidly and efficiently license music on YouTube, meaning more music for you all to enjoy, and more money for the talented people producing the music,” Mr King added.
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