Getty Images Reps Lionsgate Original Music

Posted on 2/22/2008 by Julia Dudnik Stern | Printable Version | Comments (0)

As Jonathan Klein promised when Getty Images acquired Pump Audio, the company's music collection is expanding beyond the independent artists that were the sole focus of Hudson Valley's alternative-music business. In a first major representation agreement, Getty has partnered with top indie film studio Lionsgate.

Original Lionsgrate film scores and soundtracks will now be available for licensing through Getty's music-licensing business. The first to join the Getty collection is the Oscar-nominated soundtrack of  3:10 to Yuma by Marco Beltrami. Soon to follow are the scores of Lionsgate's TV productions "Mad Men" (AMC) and "Weeds" (Showtime), as well as Oscar-winning films, including "Crash" and "Monster's Ball."

With this partnership, Getty addresses the market's need for an expanded, one-stop music-licensing platform. The company's $42 million investment banks on the opportunity presented by the fragmentation and inefficiency of the commercial music-licensing market.

The Lionsgate partnership is the first news to come out of Getty's music division in eight months, though the company did launch the Pump-developed Soundtrack music-search engine last October. In the last financial conference, Klein spoke of revenue growing in all areas other than creative stills. However, since Getty does not organize its financial reports by business segment, music-licensing contribution to total revenues is unclear.

In addition, the music business may not be fully integrated into Getty's operation. Pump Audio's brand is a prominent feature of Getty's music Web site. Pump Audio's own site appears to conduct business as it did before the change of ownership. The home page links to the Getty-issued press release of the acquisition. The Soundtrack service and other music-licensing tools for artists and buyers are accessible here.

Transitions aside, Getty Images remains on a diversification path. It plans to continue investing in growth business lines, including music. Next for that division is the addition of popular artists and titles to the alternative collection.

Copyright © 2008 Julia Dudnik Stern. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-461-7627, e-mail: wvz@fpcubgbf.pbz


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