LyricFind will now power all of Gracenote's lyric services as part of the companies' new partnership. Gracenote, whose database powers a range of music and video services, will not take an equity stake in LyricFind and will not have an operational role in the company.
CEO Darryl Ballantyne tells Billboard.biz that LyricFind can provide more robust lyric solutions, such as worldwide licensing rights, and additional features, like lyric synchronization and its lyric search technology, than Gracenote can offer on its own. Gracenote clients, and some music publishers, will transition over to the Lyricfind service.
Toronto-based LyricFind also announced that Larry Marcus has made a personal investment in the company. A managing director at Walden Venture Capital, Marcus was an early investor in Pandora Media and is currently a director at SoundHound and BandPage.
Marcus will be able to lend his experience in digital music and connect LyricFind to early-stage companies, says Ballantyne. "We didn't need the money but we wanted him involved as a person."