News recently surfaced that Sony is purchasing the rest of The Orchard. Sony already owned a sizable amount of the distributor, possibly around 51 percent. Sony’s full purchase is expected to close after March.
The Orchard is wasting no time. They are already buying up and investing in other companies.
The company announced that they have acquired RoyaltyShare, a digital revenue managment company for the music and book industries. The Orchard says that RoyaltyShare launched the first online revenue and master royalties platform for indie labels and distributors.
The Orchard has also invested in Korrect, a software company for royalty processing, metadata management, and sales analysis.
RoyaltyShare, Korrect, and The Orchard will unite to create a standalone royalty processing platform. This new platform will seamlessly connect to The Orchard’s client dashboard.
Nina Ulloa covers breaking news, tech, and more: @nine_u