Cuesongs, the platform offering pre-cleared music for online content creators, has gone into administration, according to reports.
The company, which was founded by Peter Gabriel and Ed Averdieck in 2010, has appointed Grant Thornton UK LLP as administrators, according to Music Week.
Until May, the company was working with music labels and publishers, representing over 1,500 songwriter and artists to proactively increase their licensing revenues – particularly among YouTubers using their work.
In 2014, CueSongs was appointed by MCPS to handle sync licensing on behalf of mandated members.
At the end of 2015, it hired Christina Vaughan as its new chief executive and appointed Luke Vines as its chief operations officer.
Charlotte Seibert was also promoted to head of licensing, with the aim of maximising revenues from existing catalogue as well as managing licensing enquiries on behalf of MCPS.