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LOS ANGELES, CA / ACCESSWIRE / December 4, 2020 / Intercept Music, Inc. ("Intercept"), wholly-owned subsidiary of Sanwire Corporation, ("Sanwire" or the "Company")(OTC PINK:SNWR), is pleased to announce the completion of 25 online retail stores for its Intercept PLUS artists.
Online retail stores provide artists to sell their branded merchandise to their fans. Artists choose products they wish to sell and promote, logos, designs, prints, etc., and Intercept takes care of the rest for a share of the profits.
Intercept has experienced a significant increase in Intercept PLUS artists' online business due to the global pandemic. Merchandise is a major revenue source for musicians and is often sold at live performances. Due to the global pandemic and the almost complete ban on live performances, that revenue stream has largely disappeared which compelled artists to rely on online retail stores. Intercept provides its Intercept PLUS artists with a much wider product selection at a lower cost due to the on-demand product completion cycle; eliminating large product runs and keep inventories at a minimum.
The invitation-only label services program, Intercept PLUS was officially launched in May 2020. In a press release dated November 5, 2020, Intercept announced that over 50 artists have joined the Intercept PLUS program. To join intercept PLUS label services program, a band must have at least 10,000 fans and must meet certain other minimums. With the Intercept PLUS program, Intercept manages multiple revenue-generating streams for the bands and then participates in the profits. Intercept is targeting gross receipts of at least $30,000 per year per band. Intercept PLUS offers features typically performed by a traditional music label including customized advertising, licensing, merchandise sales and promotion, physical distribution, playlist creation, revenue management, live broadcasting, and YouTube channel management. Through the Intercept PLUS label services program, independent artists can access the full range of benefits traditionally offered by a music label, while driving their own careers and maximizing revenue at a fraction of the cost of a traditional label. Intercept PLUS features are funded entirely through revenue sharing with artists.
"With the complete ban on live performances, musicians are losing out on their biggest revenue stream, and that in turn affects their second-largest revenue stream, merchandise," said Tod Turner, Intercept Music President. "We set out to maximize revenue to independent musicians, and these online retail stores are a huge step toward that."
Intercept's online platform is dedicated to helping independent artists and bands effectively distribute, promote, and earn income from their music. Intercept's platform gives artists immediate access 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, the invitation-only Intercept Plus program offers fully managed promotional services, including the opportunity to sell merchandise through branded online stores.
About Intercept Music, Inc.
Intercept Music, Inc. is an entertainment technology company dedicated to helping independent artists effectively distribute, market, and monetize their music. Sold through a Software as a Service (Saas) model, Intercept's online platform delivers an unsurpassed combination of marketing, promotion, and distribution to hundreds of stores worldwide and every major streaming service, including Apple Music, Google Music, Pandora and Spotify. Intercept's options include full-service, concierge-style support and even one-on-one coaching from award-winning music industry professionals. Intercept focuses exclusively on the independent music market, which is estimated at 12 million artists, and is the fastest-growing sector of the music industry. For more information, visit interceptmusic.com.
About Sanwire Corporation
Sanwire Corporation (OTC PINK:SNWR), a diversified company with a focus on technologies for 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.
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SOURCE: Sanwire Corporation
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