Intercept Music, a Sanwire Corp. Subsidiary, Announces Second Quarter Results and Corporate Update

Rhea-AI Summary

Sanwire Corporation (OTC PINK:SNWR) announced strong second quarter results for its subsidiary, Intercept Music. The company reported a nearly 400% increase in month-over-month streaming to 8.6 million for May. Significant investments in marketing have led to the addition of 15 new marketing services, partnerships, and software updates in the past six months. The average spend per new release has quadrupled to over $200. Chairman Ralph Tashjian emphasized the effectiveness of these strategies as a competitive advantage.

Positive

• 400% increase in month-over-month streaming to 8.6 million streams in May.
• 15 new proprietary marketing services added in six months.
• Quadrupled average spend per new release to over $200.

Negative

• None.

Long-Term Marketing Strategies Showing on Financials

SAN FRANCISCO, CA / ACCESSWIRE / August 16, 2022 / Intercept Music, Inc. ("Intercept"), wholly owned subsidiary of entertainment-technology innovator Sanwire Corporation ("Sanwire" or the "Company") (OTC PINK:SNWR), is pleased to provide second quarter results and corporate updates.

Sanwire announced full second quarter results of operations yesterday for its subsidiary, Intercept Music, with results a testament to the success of our marketing plans and its ability to push sales. "We made a substantial investment in marketing in the first and second quarter," said Tod Turner, President of Intercept. "That spending is definitely paying off, as evidenced by the news last week of almost a 400% increase in month over month streaming to 8.6 million streams for May."

"In the first six months we've added 15 new proprietary marketing services, three advisors, four new partnerships, and over 50 new software updates including royalty accounting, one of the most comprehensive in the industry, all in the name of helping indie artists and labels navigate their way to success." Turner said. "We've also added multiple artists and labels with outstanding talent. Our marketing services are delivering real value, the average spend per new release has quadrupled to over $200 and our artists are winning awards and chart placement."

"When you couple these new partnerships with the new marketing services, major artists and labels that have joined our family, and our catalog success with over 10,000 tracks, we're firing on all cylinders." Said Turner.

"I have been in the business for more than four decades and have seen what works and what doesn't," said Ralph Tashjian, Chairman of the Board of Intercept. "This is definitely working in a big way and producing results quickly and efficiently, a real advantage for our artists. You have to find a way to stand out in this day and age, and these results are proof."

After more than 3 years of development and input from hundreds of artists and labels, Intercept Music made its official launch publicly in April 2022 with Method Man from the Wu Tang Clan, representing the Urban genre.

About Intercept Music Inc.
Intercept Music champions creative iconoclasts. The entertainment technology company harnesses the power of premium distribution, sizzling social media, meaningful marketing, monumental merchandising, and customizable promotional services to empower independent labels and their artists to build audiences and drive revenue. The Software as a Service (SaaS) company focuses exclusively on the independent music market, the fastest-growing sector of the music industry. Intercept Music is a wholly-owned subsidiary of Sanwire Corporation (OTC PINK:SNWR), a company focused on advanced technologies for the entertainment industry. Learn more at interceptmusic.com or visit Intercept Music's Instagram, Twitter, and Facebook.

About Sanwire Corporation
Sanwire Corporation (OTC PINK: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.

For further inquiries, contact ir@sanwirecorporation.com, or press@interceptmusic.com

Safe Harbor Statement: This release contains forward-looking statements. All statements regarding our expected future financial positions, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the OTC Markets, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties, and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.

SOURCE: Sanwire Corporation

View source version on accesswire.com:
https://www.accesswire.com/712277/Intercept-Music-a-Sanwire-Corp-Subsidiary-Announces-Second-Quarter-Results-and-Corporate-Update

FAQ

What were the second quarter results for Sanwire Corporation (SNWR)?

Sanwire Corporation reported strong second quarter results for Intercept Music, highlighting a 400% increase in streaming.

How much did Sanwire invest in marketing in Q2?

Sanwire made substantial investments in marketing during the first and second quarters of 2022.

What is the average spend per new release for Intercept Music?

The average spend per new release has quadrupled to over $200.

When was Intercept Music officially launched?

Intercept Music officially launched in April 2022.