SourceAudio Gets $1.2 Million in Funding
Who says there's no money in music? AudioSource, a Los Angeles company that connects music supervisors with music catalogs, on Monday said it's snagged $1.2 million in seed financing led by Emerson Investment Group.
The company hosts over 600 music catalogs from 3,400 record companies totalling 5 million tracks. The idea is to provide music supervisors with a one-stop shop for finding pre-recorded music for sync licensing. SourceAudio's backers are betting that an increase in video content creation will result in a growth demand for its self-service platform for identifying and licensing tunes.
Google Glass Gets an Update
Google Glass, which is not yet available for sale, has added three new features that only its 8,000 test users get to experience. The most relevant to Billboard.biz's audience is a Sound Search function that identifies a song and flashes the track's title and artist. No word on the announcement whether Glass can facilitate a sale by, say, directing the user to Google Play to download a copy, the way Shazam does.
The other two features include:
Vignette - Glass wearers can capture both a picture and whatever was on their display in a single moment -- akin to layering on a filter or image to a live photo.
YouTube videos in search results - Users will get YouTube results for some searches. "Your bike get a flat tire? With Glass, you can now watch a quick video on how to repair it," Google said in its announcement.
Vevo Releases Audience Numbers
VEVO on Monday released its latest viewership figures, showing continued year-over-year growth. The music video service counted 1.58 billion unique viewers worldwide in the second quarter, up 27% from 1.17 billion a year earlier. The number of streams VEVO served up grew 25% to 12.38 billion in the same timeframe.
The video platform also highlighted its growth on tablets and connected TVs, where VEVO has identified as opportunities to grow outside of the Web and browsers. These platforms also allow VEVO to diversify beyond YouTube, which still accounts for the lion's share of its views. Views on tablets and TVs -- via a VEVO app -- totalled 1.2 billion in June, up 184% from a year earlier.