Session is the music credits startup founded by superstar Swedish songwriters Björn Ulvaeus, Max Martin and Niclas Molinder. Now the company has a new owner: royalty-processing firm Salt.
It is acquiring Session for an undisclosed amount, with Ulvaeus joining its board as part of the deal. He’ll join former PRS for Music boss Robert Ashcroft and former EMI chief Roger Faxon as a board member.
The news came as Salt also announced a 10-year deal with Dutch collecting society BumaStemra to use its royalty processing and distribution technology.
“These partnerships will enable Salt to press ahead with innovation and provide our users, and their members, with the most comprehensive and efficient music rights management solution in the market,” said Salt CEO Doug Imrie.
Session CEO Molinder was a guest on this week’s Music Ally Focus podcast, recorded before the acquisition was announced. Alas, he didn’t let anything slip, but he did talk about Session’s music-credits mission and what it means for songwriters.
“I am delighted to join the board of Salt and to work with this prestigious team to bring the transparency and accuracy to the industry that we have all waited so long to achieve,” said co-founder Ulvaeus in a statement this morning.
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