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Late last year, I did an interview with Steve Ellis, who is founder and CEO of Pump Audio. I thought his company filled an import need in the market – and was poised for growth in the YouTube video surge.Well, Getty Images (NYSE: GYI) is also bullish. That is, the company shelled out $42 million to buy Pump Audio.
Basically, Pump Audio has spent the past six years developing a sophisticated system to license music to digital providers. The catalog has over 100,000 titles and has biggie customers like GE's (NYSE: GE) NBC and Nike (NYSE: NKE).
So, video creators have a way to enhance content (the search engine makes it easy to locate the right music). And, at the same time, music creators can also monetize their creations.
It's a pretty smart idea. It's also a good fit with Getty Images, which focuses on licensing businesses.
To get more insight on all this, you can check out Ellis' interview on BloggingStocks.
Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.
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