William Morris Invests in Online Royalities Firm RoyaltyShare
This story was written by Rafat Ali.
San Diego-based RoyaltyShare, which helps entertainment companies manage digital royalties, has received new investment from William Morris Agency, as an extension of its second round of financing, which was led by Trident Capital ($5 million) and Bertelsmann Digital Media Investments ($4 million). It also took in a $2.5 million seed round from Trident.
The amount from WMA was not disclosed. The funding will be used to roll out new backend content management and royalty management services for other media industries outside of music such as book publishing and video games, the company said. RoyaltyShare has recently purchased content management firm IDEA and Musicalc, a maker of accounting software for royalties.
Bob Kohn, RoyaltyShare's co-founder, chairman and CEO, was also behind the formation of music download service EMusic.com in 1998.
By Rafat Ali