Intercept Music, Wholly Owned Subsidiary of Sanwire Corporation, Provides Revenue Guidance
Intercept
Music, Wholly Owned Subsidiary of Sanwire
Corporation, Provides
Revenue Guidance
Los
Angeles, CA -- May 14, 2020 -- InvestorsHub NewsWire
-- Sanwire Corporation, (“Sanwire” or “Company”) (OTC:
SNWR), a diversified company focused on the entertainment
industry, announced today the latest revenue growth and guidance
for its wholly owned subsidiary, Intercept
Music, Inc. (“Intercept”), and Sanwire’s performance on a
consolidated basis.
Intercept’s revenues for the quarter ended March
31, 2020 have increased more than 400% from the same quarter of
2019. Sanwire closed the acquisition of Intercept on March 5, 2020;
therefore Sanwire will include Intercept’s revenue and expense
items pro-rata from acquisition closing date to March 31, 2020 on a
consolidated basis.
Intercept’s revenue growth is attributed to an
expansion of Intercept’s product offerings as well as sales that
were generated by Intercept’s partners. Revenue is expected
to continue to grow in the second quarter of 2020 from services
such as the recent introduction of Intercept Plus as well as
through strategic
acquisitions.
Additionally, Intercept announced that it has
streamed more than 14,000,000 tracks for its artists. Streaming has
become the most popular way for artists to distribute their music
through global streaming services such as Apple Music, Google Play,
and Pandora, to name a few. Streaming allows music consumers
to listen to the music without actually purchasing it.
Intercept has increased its streams by over 3,800% in the first
quarter of 2020, compared to the first quarter of
2019.
Streaming currently accounts for more than 80% of
the music industry’s revenue, and that share continues to
increase. Music industry on-demand streaming services have
increased more than 25% from 2018 to 2019, with over 60 million
Americans subscribed to one of the major streaming services, adding
an average of more than 1 million new subscribers per
month.
“The
independent music artist market continues to grow and is prime for
our business model,” said Tod Turner, President of Intercept. “Our
revenue and streaming growth is a true testament that our product
offering is getting traction in the music
industry.”
Intercept Music is an online
platform completely dedicated to helping millions of global
independent artists effectively promote their music and distribute
it worldwide to hundreds of digital stores and every major
streaming platform, including Spotify, Apple Music, Amazon Music,
Pandora and Google Music. In addition to powerful DIY social
media marketing and promotional tools available on a monthly
subscription model, Intercept's upgraded ambassador program also
enables artists to accelerate their careers with individualized
coaching sessions, which can be booked directly on the
website.
There are currently an estimated 12
million independent artists (i.e., those not signed to major
labels) worldwide today, and independent music is the
fastest-growing sector by revenue in the music industry. The
independent music market generated $1.6 billion in 2019 and is
projected to grow 32% in 2020 to $2.1 billion, accounting for up to
10% of the global music industry. Intercept Music offers an
unparalleled level of support and service to its independent
artists.
About Intercept Music,
Inc.
Intercept Music, Inc.,
an entertainment technology company with
the soul of an artist that sells and markets its product
offering through a Software as a Service (“SaaS”) model. The
company’s online platform is dedicated
to helping millions of global independent artists effectively
promote their music and distribute it worldwide to hundreds of
digital stores and every major streaming platform, including
Spotify, Apple Music, Amazon Music, Pandora and Google
Music. Intercept's software
platform delivers an unsurpassed combination of distribution,
marketing and expert coaching, empowering artists to connect with
new audiences, measure their results and distribute and monetize
their music like never before. For more information,
visit interceptmusic.com.
About Sanwire
Corporation
Sanwire Corporation (OTC:
SNWR), a diversified company with a focus on the entertainment
industry, has been involved in aggregating technologies for a
number of years. We look for opportunities in fragmented markets,
where technology can be applied to consolidate services into a
single platform of delivery. Our current focus is advanced
entertainment technologies. For more information,
visit sanwirecorporation.com.
For further inquiries, contact
ir@sanwirecorporation.com,
casper.casparian@interceptmusic.com,
or (424) 835-0833.
Safe
Harbor Statement:
Forward-Looking Statements are included within the meaning of
Section 27A of the Securities Act of 1933, and Section 21E of the
Securities Act of 1934, as amended. All statements regarding our
expected future financial positions, results of operations, cash
flows, financing plans, business strategy, products and services,
competitive positions, growth opportunities, plans and objectives
of management for future operations, listing on the OTC Markets,
including words such as "anticipate," "if," "believe," "plan,"
"estimate," "expect," "intend," "may," "could," "should," "will,"
and other similar expressions are forward-looking statements and
involve risks, uncertainties, and contingencies, many of which are
beyond our control, which may cause actual results, performance, or
achievements to differ materially from anticipated results,
performance, or achievements. We are under no obligation to (and
expressly disclaim any such obligation to) update or alter our
forward-looking statements, whether as a result of new information,
future events or otherwise.
Sanwire (PK) (USOTC:SNWR)
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Sanwire (PK) (USOTC:SNWR)
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