The intellectual property assets of digital music streaming platform brand, Blinkbox Music, are for sale following an instruction from administrators, Smith & Williamson LLP, to Metis Partners, the internationally operating intellectual property specialist.
Blinkbox Music, incorporated in 2006, was acquired by Tesco in 2012 for £10.8 million before being sold to Guvera, an Australian business in January 2015. With a loyal following and a user base estimated by former management to be of circa 4.7 million listeners, its current active listeners number around 370,000 a month.
An established music streaming platform available principally on mobile devices and smartphones as well as the web, Blinkbox Music’s offering is based on music stations: users can choose to play one of thousands of Blinkbox Stations offered by the company’s in-house music team. These are collected under categories including “Fresh”, “Vibe” and “Feelgood”.
Playing around 100 million streams of music a month, the company holds over 13 million songs (subject to licensing) and has content supply agreements with major music labels, Universal, Warner and Sony as well as a number of independents.
Nat Baldwin, head of corporate recovery and brokerage at Metis Partners, said: “This is a unique opportunity to purchase the intellectual property assets of a leading music streaming service with an extensive and loyal audience. Last year, Blinkbox Music spent around £7 million on marketing, including above-the-line television advertising campaigns.
“Revenue has been generated primarily through advertisers, including retailers, who pay monthly fees to deliver adverts to all or particular targeted segments of the Blinkbox user-base. In addition, an ad-free subscription service, Blinkbox Music More, is available for a monthly fee of £1 a week. At present this service has over 3,000 paid subscribers.
“We have already received significant interest in the sale which is attractive to others in the music streaming industry, music industry, media, social media and technology organisations.”
The deadline for offers is Thursday 25 June 2015 at 4.00pm. The IP assets include: the source code; advanced algorithms in relation to the music streaming platform; 4.7million user database; behavioural data and user data; organisational knowledge including marketing rights and the website.
The sale of Blinkbox Music’s IP assets reinforces Metis Partners’ position as a vendor of leading software brands’ IP. They have previously successfully marketed a range of widely-recognised software IP assets including WeeWorld, Polaroid Blipfoto and Realtime Worlds.
For further information, contact Morven Fraser, Metis Partners on 0141 353 3011; firstname.lastname@example.org
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