Tencent Leads Other Investors To Raise New Funding Of $57M For Digital Rights Startup Pex
pex 57m tencent- Digital rights technology firm Pex has announced a $57 million financing round. It includes Tencent, Tencent Music Entertainment, the CueBall Group, NextGen Ventures Partners, Amaranthine, and current investors. The article below unfolds the same, so let’s dig into the details.
Who Is Pex?
Pex is a Los Angeles-based firm that offers publishers and also artists content management and also copyright solutions. It provides creators and publishers with a set of tools to measure, monitor, and also manage their digital content across numerous platforms. These platforms include YouTube, Instagram, TikTok, and others.
Real-time licencing capabilities are one of Pex’s standout characteristics. Pex has developed a comprehensive database of music rights information through collaborations with significant music publishers and labels. This enables it to swiftly identify and licence music used in digital content. With this, authors as well as publishers can prevent copyright violations. This guarantees that the owners of music rights are fairly compensated for the use of their creations. pex 57m tencent
Together with real-time licencing, Pex also provides content matching and takedown services. It also provides analytics tools that assist content producers as well as publishers in understanding how their content is utilised and shared across numerous platforms. Pex’s platform is made to support publishers and creators. It helps in protecting their intellectual property, upholding copyright regulations, and also profitably distributing their material.
Who Is Tencent?
Chinese multinational firm Tencent focuses on a range of internet-related services and goods. Ma Huateng started it in 1998, and it has its headquarters in Shenzhen, China. Social networking, online gaming, digital advertising, fintech, and also cloud services are among Tencent’s primary business sectors.
WeChat, one of the most popular messaging apps in China, and QQ, a popular instant messaging network, are two of Tencent’s social media outlets. Tencents has investments in numerous game publishers and developers throughout the world. It is another significant participant in the online gaming sector. Also, the business has made significant investments in fintech and digital payments. Its WeChat Pay and QQ Wallet services are very popular in China. pex 57m tencent
Tencent has activities and investments in numerous nations throughout the world, including the United States, Europe, and Southeast Asia. It has a substantial worldwide presence. It is one of the most valuable corporations in the world and billions of people use its goods and services globally.
Who Is Tencent Music Entertainment?
One of the biggest online music entertainment platforms in China is Tencent Music Entertainment Group (TME). It is a division of Tencent Holdings. Almost 800 million active users use the various music streaming services that TME runs. These include QQ Music, Kugou Music, as well as Kuwo Music.
TME gives users access to a wide range of musical resources. Such as live concerts, karaoke, and also games with musical themes, as well as Chinese and foreign music. TME provides streaming services as well as online music advertising and social networking services centred on music.
The TME platform is made to make it easier for music enthusiasts to find new bands and also songs. Interact with other fans, and share their own musical experiences. The company collaborates with well-known music labels as well as performers. It has made significant investments in acquiring exclusive content and growing its music library.
Additionally, TME is one of the biggest publicly traded music companies in the world. It went public on the New York Stock Exchange in December 2018.
Tencent backs digital rights startup Pex in $57M round
Pex, wants to give content owners more control over how their work is used and reproduced online.It has acquired $57 million in fresh funding. Existing investors Susa Ventures and Illuminate Ventures, along with Tencent, Tencent Music Entertainment, the CueBall Group, NexGen Ventures Partners, Amaranthine, and others, participated in the funding round.
The start-up refers to its Attribution Engine as the “licencing infrastructure for the Internet. Connecting those who own the rights to the content with the creators who might want to remix it. The large digital platforms where it is shared, as well as the law enforcement organisations who want to keep an eye on it all.
A licencing system, a dispute resolution system, a payment system, data and also reporting to monitor how your content is being utilised. And an asset registry are the six parts that make up the product.
Public domain as well as Creative Commons licences are “first-class citizens” on the platform. Pex is used by most of the largest rightsholders in the world. The system was designed to be usable by “a struggling musician out on the streets of Los Angeles. Many of the rightsholders using the Attribution Engine don’t necessarily want monetary compensation: Many people are content to do this for attention. Humans are social creatures. (Furthermore, recognition may open doors to lucrative opportunities.)
Use Of The Additional Cash
Pex claims that the additional cash will enable it to keep expanding the Attribution Engine. The additional investment of $57 million will enable Pex’s Attribution Engine, grow. It establishes a single marketplace for digital content.
Attribution is important for the Internet because it may assist safeguard copyright without impeding development. AE is the first platform able to handle the growth and demands of today’s content. Also setting new benchmarks for speed and scale. Real-time usage authorization and licencing takes the role of faulty upload filters and takedown requests, benefiting artists . It also recognizes and pays individuals whose works are sampled and shared.