Rights-management firm OpenPlay has raised its latest funding: a “multi-million dollar strategic investment round” led by Tracy Maddux. Readers may remember him as the former chief commercial officer at Downtown Music Holdings. Now principal consultant at Artes Management, an advisor to digital music, short-video and social-media firms, Maddux will be joining OpenPlay’s board.
Other music-related investors in the round include Latin independent music company FaroLatino and David Alexander, founder of Africa-focused music publisher Sheer Publishing. That’s a pointer towards OpenPlay’s global ambitions for its tools, which labels use to control their recorded-music catalogues. “This new investment accelerates our ability to deliver that freedom to every rightsholder globally,” said CEO Edward Ginis.
The company’s announcement of the funding added that OpenPlay is already profitable, and has multiple new products set to launch “in the coming months”.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source musically.com ’
