UK-based music-licensing startup Lickd has announced a Series A funding round of £1.7m ($2.2m) from angel investors, including Pink Floyd drummer Nick Mason.
The company’s focus is on licensing recorded-music to YouTubers and other social-video creators, in the hope of helping commercial (label-signed) music compete with that of production libraries like Epidemic Sound.
The funding comes alongside an announcement of a label and publishing deal with BMG, which will see up to 3m of the latter’s songs and recordings pre-cleared for use by creators.
“Lickd has identified a very real problem in music licencing and has created an opportunity which both enables online video creators to legally use great music while simultaneously creating a new, fair and legitimate revenue stream for artists and writers,” said Mason, in a statement.
For more on Lickd, read our report on the company’s Midemlab pitch last June. At that point, it had deals with 75 independent labels, publishers and distributors.