LOS ANGELES, May 26, 2020 /PRNewswire/ -- Sanwire Corporation, ("Sanwire" or "the Company") (OTC: SNWR), a diversified company focused on technologies for the entertainment industry, and its wholly owned subsidiary Intercept Music, Inc. ("Intercept") announced the execution of a definitive letter of intent ("LOI") to acquire 100% of North Carolina-based Art is War Record label ("AIW Records"); YouTube channel https://bit.ly/artiswar. The acquisition is expected to close by May 31st.
After transaction closing, AIW Records will be operating under Sanwire's current wholly owned subsidiary, Intercept Music. Intercept will become the promotion, marketing and distribution provider for more than 20 established artists on the AIW Records label, including music groups Bleed the Sky, Eye of the Enemy, Skinlab, and more.
This acquisition accelerates the diversified business opportunities for Intercept. Both the AIW Record label and Intercept will benefit strategically from customer sharing and expanded service offerings. Sales generated by Intercept partners and ambassadors, and new services such as Intercept Plus will be available to AIW Records artists, and Intercept artists will gain access to AIW Records' complementary functions.
From a revenue growth standpoint, Intercept will begin by capturing existing AIW artists royalties, and then expand through its extensive service offerings to include marketing, promotion and distribution via its Intercept Music platform. Intercept will also create new sources of revenue for AIW Records artists and bands from their new invitation-only Intercept Plus program, which includes merchandise sales, YouTube channel management and targeted advertising,
"As we continue to expand our products to provide the full range of services artists need, acquiring a record label became the logical next step," said Tod Turner, President of Intercept. "Art is War Records has a solid roster of talent that makes an ideal pilot program for our future plans. We are gaining a critical mass of quality artists all at once, with current revenue and future opportunities baked in."
"Together, our artists and I have put our hearts and souls into building this record label, and their careers," said Lucas Joyner, owner of Art is War Records. "I know that with the forward thinking direction Intercept Music has and the state of the art industry software being developed they will firmly stand behind these artists and bands to help take them to the next level and push the boundaries of the entertainment business."
About the Art Is War Record Label
Art is War Records ("AIW Records") is a record label with distribution, marketing, and sales services. Focused on independent artists, AIW Records offers the expertise, infrastructure, and scalability of a big label, delivered with personal attention and support. Services include AIW Distribution to digital and physical stores; full-service marketing support including social media, email, SEO, and artist and band talent management. For more information, visit our website artiswarrecords.com or our YouTube channel (https://bit.ly/artiswar).
About Intercept Music, Inc.
Intercept Music, Inc. is an entertainment technology company dedicated to helping independent artists effectively distribute, market and monetize their music. Sold through a Software as a Service (Saas) model, Intercept's online platform delivers an unsurpassed combination of marketing, promotion, and distribution to hundreds of stores worldwide and every major streaming service, including Apple Music, Google Music, Pandora and Spotify. Intercept's options include full-service, concierge-style support and even one-on-one coaching from award-winning music industry professionals. Intercept focuses exclusively on the independent music market, which is estimated at 12 million artists, and is the fastest-growing sector of the music industry. For more information, visit interceptmusic.com.
About Sanwire Corporation
Sanwire Corporation (OTC: SNWR), a diversified company with a focus on technologies for the entertainment industry, has been involved in aggregating technologies for a number of years. We look for opportunities in fragmented markets, where technology can be applied to consolidate services into a single platform of delivery. Our current focus is advanced entertainment technologies. For more information, visit sanwirecorporation.com.
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SOURCE Sanwire Corporation