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LOS ANGELES, CA / ACCESSWIRE / August 24, 2020 / Intercept Music, Inc. ("Intercept"), wholly owned subsidiary of Sanwire Corporation, ("Sanwire" or "the Company") (OTC PINK:SNWR) announced today that it has processed and signed-up the first block of 25 bands onto its Intercept PLUS label services program through July 31, 2020 and it has distributed more than 20,000,000 streams for its artists.
The invitation-only label services program, Intercept PLUS was officially launched in May 2020; refer to Company press release dated May 8, 2020. To join the 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. In addition to this first block of 25 bands, Intercept has a backlog of dozens more bands, including a multi-platinum and Grammy winning band that Intercept is hoping to announce in the coming weeks.
Second milestone: Intercept has distributed more than 20,000,000 streams 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. The first 25 bands that signed up with Intercept PLUS had cumulative streams of over 40 million prior to joining the Intercept PLUS label services program. Streaming currently accounts for over 80% of music consumption.
Intercept PLUS is an invitation-only label services program that offers features typically performed by a 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.
"We are extremely pleased with the rapid growth of our Intercept PLUS label services program and the ability to scale up this product offering in such a short timeframe," said Tod Turner, President of Intercept. "Intercept PLUS label services program is proving to be a real standout in the industry with incredible demand. Right now, we are onboarding blocks of 20-25 bands at a time, however, we expect a substantial increase in the coming months."
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 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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