LyricFind has officially acquired AI-powered video-creation platform Rotor Videos and inked an adjacent partnership agreement with CD Baby.
Toronto-based LyricFind, the provider of lyrics for Google search-results pages and more, emailed Digital Music News with word of the developments. On the acquisition front, nearly nine-year-old Rotor Videos bills itself as the “ultimate app for making music videos” and says it utilizes “proprietary A.I. and analysis” to expedite the creation process.
Additionally, a cursory look at Rotor’s website shows that the platform, besides enabling users to create music videos with “zero video editing skills or production know-how,” can put out Spotify Canvas videos, clips tailored for social media, album-artwork videos, and lyric videos.
Now, the newly acquired business, which is said to be based in Belfast, will help LyricFind enhance its “well established portfolio of lyric-based solutions” and build upon its “recent push into the video creation market,” according to the purchasing party.
“Video is a huge part of how artists grow and engage with fans, and the appetite for video is seemingly insatiable,” summed up LyricFind founder and CEO Darryl Ballantyne. “We’ve long admired the Rotor Videos platform, and their solution is a great fit with the LyricFind portfolio. We are delighted to welcome the Rotor Video team to the LyricFind family.”
While LyricFind opted against publicly disclosing the precise financials behind the buyout, it did relay that Rotor founder and CEO Diarmuid Moloney is expected to continue leading his business post-sale.
“We’re thrilled to be joining the LyricFind team,” the Kanisi CEO Moloney added in a statement. “LyricFind’s long history of serving rightsholders fits perfectly with our goals, and we’re excited to bring an enhanced video product to their offering.
“LyricFind shares our vision for the Rotor technologies and can unlock the full potential of our products. We’re very excited about our future together,” he concluded.
Furthermore, LyricFind – which says it “grew both its revenue and lyrics catalogue by nearly 50% in 2022” – isn’t the only entity that’s poised to benefit from this enhanced video offering.
As part of the initially mentioned CD Baby tie-up, the lyrics-focused company is set to bring Rotor as well as LyricFind’s “lyric video enterprise solution” directly to the indie distributor. As a result, CD Baby artists will have the option of creating “gorgeous video content directly on” the platform, LyricFind drove home.
“We’re excited to collaborate with the LyricFind and Rotor teams, bringing integrated video creation capabilities to CD Baby,” indicated CD Baby president Scott Williams.