LOS ANGELES, June 11, 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 that it has completed the acquisition of North Carolina-based Art is War Records ("AIW 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, and SEO; and artist and band talent management. The AIW Records YouTube channel is https://bit.ly/artiswar.
The acquisition accelerates Sanwire's diversified business plan and growth opportunities. Both AIW Records and Intercept will benefit strategically from customer sharing, cross-product selling, vertical integration, and expanded service offerings. Intercept Music's cohort of 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 offerings. Intercept will become the promotion, marketing and distribution provider for more than twenty (20) established artists on the AIW Records label, including music groups Bleed the Sky, Eye of the Enemy, Skinlab , and more.
From a revenue growth standpoint, Sanwire and Intercept will begin capturing existing AIW Records artists' royalties immediately, and then expand revenue opportunities through extensive service offerings including marketing, promotion, and distribution via the Intercept Music platform. Intercept will also create new sources of revenue for AIW Records artists and bands from their new invitation-only Intercept Plus label services program, which includes merchandise sales, YouTube channel management and targeted advertising.
Under the terms of the acquisition agreement: (a) Sanwire will acquire 100% of AIW Records, which will operate as a wholly owned subsidiary of Sanwire, alongside Sanwire's wholly owned subsidiary, Intercept Music; (b) Sanwire will acquire AIW Records account receivables totaling approximately $55,000 as well as all future rights and interest to multiple revenue streams; and (c) Sanwire will extend a management agreement to AIW Records' key manager.
"We are very excited about completing the acquisition of Art is War Records," said Chris Whitcomb, CEO of Sanwire. "Our earlier acquisition of Intercept Music cemented a solid foundation for Sanwire. Our second acquisition of the Art is War Records label builds on that foundation by expanding our aggressive rollout plans and rapid revenue growth. We will be selective in our acquisition strategy and focus on companies that are currently generating revenue."
About Art Is War Records 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 artiswarrecords.com or 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 today. 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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