- Technology Driven Music Entertainment Marketing Company.
- Former Universal Music Group CEO Jim Uire Now on BOD.
- Signed First 25 Bands with a Minimum Target of $30,000 Receipts Each.
- New Distribution Agreement for Latest Release from DJ/Producer Mr. Green Featuring Redman.
- Record Revenues Reported for the Second Quarter Ended June 30, 2020
Sanwire Corporation (OTC: SNWR) is a diversified company with a focus on the entertainment industry. SNWR looks for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery.
Intercept Music, Inc., a wholly owned subsidiary of SNWR, is an entertainment technology company that sells and markets its product offering utilizing the Software as a Service (“SaaS”) model. In the crowded music marketplace today, 12 million artists are competing for fans and audiences that have almost unlimited access to music, whether from streaming services or online retailers. Intercept’s software platform delivers an unsurpassed combination of distribution, marketing and expert coaching, empowering artists to connect with new audiences, measure their results and distribute and monetize their music like never before.
- Universal Music Group Distribution Former Chief Executive Officer Joins SNWR Board of Directors
On August 25th, 2020 – SNWR announced that Jim Urie, former president and Chief Executive Officer of Universal Music Group Distribution, has joined its board of directors. Mr. Urie is a universally recognized leader in the music industry, and particularly music distribution. In more than four decades of experience, Mr. Urie has been instrumental in guiding the direction of the industry through several periods of profound change. Called one of the “music industry distribution giants” by Billboard Magazine, Mr. Urie has had a career-long focus on maximizing profitability for music distribution, across all outlets and formats.
The SNWR Intercept online platform is dedicated to helping independent artists and bands effectively distribute, promote, and earn income from their music. Intercept’s platform gives artists immediate access to hundreds of digital stores and every major streaming platform, including Spotify, Apple Music, Amazon Music, Pandora and YouTube Music. In addition to powerful DIY social media marketing and promotional tools available on a monthly subscription model, the invitation-only SNWR Intercept Plus program offers fully managed promotional services, including the opportunity to sell merchandise through branded online stores.
- Two Milestones and Revenue Model for SNWR Intercept PLUS Label Services Program
On August 24th, 2020 – SNWR announced a milestone of having processed and signed-up the first block of 25 bands onto its Intercept PLUS label services program through July 31, 2020.
The SNWR invitation-only label services program, Intercept PLUS was officially launched in May 2020. To join the Intercept PLUS label services program, a band must have at least 10,000 fans and must meet certain other minimums. With the Intercept PLUS program, Intercept manages multiple revenue generating streams for the bands and then participates in the profits.
SNWR is targeting gross receipts of at least $30,000 per year per band. In addition to this first block of 25 bands, SNWR has a backlog of dozens more bands, including a multi-platinum and Grammy winning band that Intercept is hoping to announce in the coming weeks.
Second milestone: SNWR has distributed more than 20,000,000 streams for its artists. Streaming has become the most popular way for artists to distribute their music through global streaming services such as Apple Music, Google Play, and Pandora, to name a few. Streaming allows music consumers to listen to the music without actually purchasing it. The first 25 bands that signed up with Intercept PLUS had cumulative streams of over 40 million prior to joining the Intercept PLUS label services program. Streaming currently accounts for over 80% of music consumption.
- Distribution for Latest Release from DJ/Producer Mr. Green Featuring Redman
On August 19th, 2020 – SNWR announced that it had entered into an agreement with DJ-producer Mr. Green to distribute his latest track, “Hip Hop 2020” featuring legendary rapper Redman. the track released on that same day.
A hip hop producer for more than a decade, Mr. Green is an internationally renowned, independent artist who has produced tracks for and collaborated with such superstars as Snoop Dogg, DJ Kool Herc, Lee “Scratch” Perry, Talib Kweli, Vinnie Paz and Jedi Mind Tricks, and many more. Among his critical acclaim, ABC News called his album “Unpredictable” with Malik B of the Roots as “succinct and excellent… imaginative and quite remarkable.” Mr. Green has produced more than a dozen solo and collaboration albums, including the “Classic Beats” series, most of which have sold out worldwide.
- Record Revenues for the Second Quarter Ended June 30, 2020
On August 17th, 2020 – SNWR reported better than expected results for the quarter ended June 30, 2020. Key highlights from second quarter compared to first quarter financial results are: Revenues increased by over 325% and Gross Profit increased by approximately 200%.
Sanwire’s second quarter revenues encompass one whole quarter for Intercept (April-June 2020) and approximately three weeks of AIW Records June 9-30, 2020. Sanwire acquired Intercept on March 5, 2020 and AIW Records on June 9, 2020.
Additionally, SNWR announced the retirement of $415,000 in long-term debt in the form of a convertible note (the “Note”) issued in March 2018.
Company Name: Sanwire Corporation
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