NAPLES, Fla., March 11, 2023 /PRNewswire/ — Music Licensing, Inc. SONG and its wholly owned subsidiary, Pro Music Rights, Inc., announced today that the companies have no direct or known exposure to the collapse of Silicon Valley Bank. This announcement comes as a reassurance to Music Licensing, Inc. shareholders and clients of Pro Music Rights who may have had concerns about the potential impact of the bank’s collapse on the companies.
Music Licensing, Inc. and Pro Music Rights want to assure their shareholders and clients that their primary banking relationship is with UBS, a highly reputable and stable financial institution. As such, the companies have no direct or known exposure to Silicon Valley Bank and its current situation.
“We understand that our shareholders and clients may have concerns about the impact of Silicon Valley Bank’s collapse on our companies,” said Jake P. Noch, CEO of Pro Music Rights & Music Licensing, Inc.. “We want to assure everyone that our primary banking relationship is with UBS, a strong and stable financial institution. We have no direct or known exposure to Silicon Valley Bank and its current situation.”
Music Licensing, Inc. and Pro Music Rights remain committed to providing the highest level of service to their clients and continue to be a leader in the Music Industry.
This announcement serves as a reminder to Music Licensing, Inc. shareholders and clients of Pro Music Rights that the companies are committed to transparency and providing timely and accurate information to their stakeholders.
About Pro Music Rights, Inc. (ProMusicRights.com)
Pro Music Rights is the 5th public performance rights organization (PRO) to be formed in the United States. Its licensees include notable companies such as TikTok, iHeart Media, Triller, Napster, 7Digital, Vevo, and many others. Pro Music Rights holds an estimated market share of 7.4% in the United States, representing over 2,500,000 works that feature notable artists such as A$AP Rocky, Wiz…
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