Vinyl Group (ASX:VNL) has announced a major commercial agreement with Songtradr, the world’s largest B2B music licensing platform. This partnership will allow Vinyl Group to manage and sell advertising across Songtradr’s digital portfolio, expanding the scale of Vinyl’s advertising business by up to 20 times. Songtradr’s platforms attract over 20 million unique viewers each month, providing a substantial boost to Vinyl Group’s Vampr Ad Network.
The deal comes at a pivotal time for Vinyl Group, as it looks to strengthen its position within the global music and media industries. Josh Simons, CEO of Vinyl Group, commented on the partnership, stating, “This agreement broadens our capabilities and establishes the Vampr Ad Network’s position as a key player in the global music advertising ecosystem.”
Songtradr CEO Paul Wiltshire echoed the sentiment, emphasising the potential for growth: “We are confident this collaboration will drive significant value for our brands and audiences.”
This new venture will allow Vinyl Group to retain 50% of net proceeds from business secured under the agreement, further enhancing its revenue generation capabilities.