News
Pump Audio Acquired by Getty Images (NYSE: GYI)
High Peaks Venture Partners is pleased to announce that Tivoli, NY based Pump Audio, a High Peaks portfolio company funded in early 2006, has been acquired by Getty Images (NYSE: GYI).
Since its founding in 2001, Pump Audio has quickly risen to become the foremost provider of independent music to television, film and advertising producers. The company’s unique business model provides emerging artists with a unique opportunity to earn money from their music by tapping into Pump’s broad array of distribution channels. Addressing a critical and growing need for easy to find, high quality, and affordable soundtrack music for all types of video production, the company is a leading supplier of soundtrack music to sought-after clients such as MTV Networks, HBO, New Line Cinema and Saatchi & Saatchi. Music from Pump Audio can be heard in episodes of dozens of top TV shows, countless commercials, as well as movies and other video content.
Since our investment in April of last year the company has effectively expanded its business to take advantage of the rapidly growing need for soundtrack music to serve the explosion of online video content. This expansion has been an exciting source of growth for the company, resulting in deals with leading user-generated content sites such as PhotoBucket, Slide, and RockYou, amongst others. Through these relationships, the number of pieces of user-generated content created incorporating Pump Audio music is now in the tens of thousands each day and continuing to rapidly grow. As the leading licensor of independent music across this variety of channels, Pump Audio has collected and paid out millions of dollars to the independent artists it represents.
For more information see the Wall Street Journal article, the Business Review article or the full press release.
