CÜR Music, a platform vying to compete with heavyweights like Spotify and Apple Music, has launched in the US this week with 10 million licensed tracks.
According to a report by Music Business Worldwide, ”Universal Music Group, Sony Music Entertainment and Warner Music Group have all licensed CÜR Music in the past few weeks”.
CÜR Music is most commonly described as a “hybrid streaming service” that “intersects internet radio services like Pandora and on-demand services like Spotify”. But most recently, the company has raised $1.75 million in financing led by members of the company’s management and board of directors, which has sparked changes.
Perhaps more important, big deals have now been completed. MBW reported that ”an 8K SEC document was filed January 19th, outlining that CÜR Media has entered into a ‘Framework Digital Distribution Agreement‘ with Sony Music Entertainment for a ‘limited non-exclusive license under SME’s copyrights to digitally distribute a wide catalog of certain sound recordings and related materials owned or controlled by SME’.” Sony is said to have safe-guarded itself with an advance that is guaranteed from CÜR. This advance reportedly starts at the end of January.
MBW also stated in their report that ”CÜR entered into a ‘Subscription Streaming and Enhanced Radio Services Agreement’ with Warner Music Inc on January 13th.” Warner has granted CÜR ‘with a limited non-exclusive license to stream certain sound recordings owned or controlled by Warner’ within the US.
With WMG there is also an agreed guaranteed advance.
MBW reported that ”CÜR’s Universal deal is covered in a separate SEC 8K document, filed January 25th”. The report says that CÜR has entered into an “Audio Streaming and Conditional Download Agreement” with UMG starting January 15th. Advances have not been reported for Universal as of yet.
CÜR has two ad-free subscription tiers: one at $2.99 a month (‘Octo’), and one at $6.99 a month (‘Inked’). Both are far cheaper than competing services which typically costs $9.99 per month for a premium tier.
The price point sets CÜR apart from the existing music streaming companies monopolizing the market. The new agreements with the major music companies could be what differentiates CÜR from its competitors.