Symphonic Distribution announces the acquisition of Streaming Promotions. Here’s what to know.
While artificially-inflated streaming numbers and listening bots are making it increasingly difficult for independent and established artists alike to make a splash in today’s music industry, Streaming Promotions aims to continue making things a bit more navigable. Now, they’ve got more gas to further the mission: according to details shared with Digital Music News, Tampa-based Symphonic Distribution has just acquired the Nashville-based upstart. The deal further solidifies both brands’ mission to increase exposure and recognition for recording artists and their labels.
“I am so pleased to welcome Streaming Promotions to the Symphonic family,” says Randall Foster, Chief Creative Officer and GM of Symphonic. “User-generated playlists and content (are) perhaps more important to artist development and fan acquisition today than ever before. I feel confident that Michael Sloane and team will be a great addition to our marketing mix, further cementing our commitment to helping independent artists and labels succeed.”
Streaming Promotions was founded in 2015 and today boasts over 3,000 clients. Artists that have utilized Streaming Promotions’ services include Enrique Iglesias, Baha Men, Tim McGraw, For King & Country, Daughtry, and many more.
“Upon forming Streaming Promotions seven years ago, we have sought to build communities around artists in an organic and authentic way,” adds Michael Sloane, CEO of Streaming Promotions. “In conjunction with Symphonic, we will be able to continue this mission and help find new fans for even higher quality talent. I’m thrilled to join forces with such a talented team to round out marketing services, building a platform for artists to grow and thrive. The future is very bright.”
Symphonic Distribution makes clear that Streaming Promotions will remain its own entity. The latter will continue offering its services to artists and labels worldwide while applying Symphonic’s infrastructure to continue growing its business and services. Streaming Productions “prides itself on always running the operation in good standing with DSP expectations.”
While it’s currently unknown what Symphonic Distribution may have paid for the acquisition, the company completed a successful Series B funding round at the beginning of the year with $37 million. The round following Symphonic’s Series A run in 2017.