SourceAudio, a startup aiming to connect buyers and sellers of licensed music, has raised $1.2 million in seed funding. Not a bad investment for going after the multi-billion dollar global music licensing business.
Co-founder and CEO Geoffrey Grotz, who previously co-founded GameTrailers.com, said the company isn’t building a consumer music store, but rather a platform that will allow musicians and music companies to build their own sites where the people who are looking to license music for their ads, TV shows, or whatever can search for tracks. Normally, a publisher would have to spend hundreds of thousands of dollars to build a site to host music on their own, Grotz said
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