Social network service Pinterest is joining forces with restriction- free music provider Epidemic Sound for Pinterest feature Idea Pins, a multi-page video format for creators. The cooperation means creators can add license-free music to the Pinterest videos.
Pinterest has launched the feature in US, UK, Australia, Canada, France, Germany, Austria and Switzerland.
Epidemic Sound recently announced a total funding round of SEK 4.6billion at a SEK 11.9billion valuation. It was founded in Stockholm 2009 and has offices in Stockholm, New York, Los Angeles, Seoul, Hamburg and Amsterdam.
The company says its music is played for over one billion hours on average per month on YouTube alone – a 400% increase since July 2019.
“Back in 2009, we saw that online storytelling was going to go from text, to images and finally to video. This progression continues to accelerate today and we’re now in a position where we’re soundtracking the internet,” says the company’s co-founder, Jan Zachrisson.
Epidemic Sound pays music creators an upfront fee for the track and split streaming revenue 50/50.
“This makes us the owners of all financial rights to the music, and that’s how we can provide a direct license covering the rights, including public performance”, Epidemic Sound says on its website.