Rights management specialist Fintage House has bought Lasso Group, touted as one of the fastest-growing online monetization companies in the world, for an undisclosed price, MovieMagic has learned exclusively.
Three-year-old Lasso was originally established as a joint venture by Fintage House and UK digital start-up Billion Dollar Boy. The acquistion is aimed at positioning Fintage House for expanded streaming media growth and reach.
Lasso monetizes online rights and promotes clients’ movie releases and TV shows online, providing film and TV companies with a 24/7 worldwide audio-visual content management service. It also offers analytics on content and responds to illegal uploads of content on all major online platforms.
Lasso CEO Marcel Hoogenberk told MovieMagic, “The acquisition will build on and complement the significant foundation already in place to serve clients across the globe better. It will also position the company for even faster streaming growth in 2018 and 2019 by expanding the reach, the development capabilities and allow us to build additional features for Lasso in the digital rights and delivery space.”
Niels Teves, co-CEO of Fintage House, said, “The success of this start up and the reaction to it at film and TV markets over the last two years has been fantastic and confirmed that we were doing huge things with a small team. We are very excited to help fuel the realization of this start-up’s vision and with our reach and long standing experience in crafting and perfecting bespoke collection models across the entertainment industry.”
Teves noted that there are already 6,000 titles in the Lasso library with about 300 clients with approximately 400 million monthly views. Both companies were early users of both YouTube and Facebook rights management systems.
“Fintage House did this deal in response to what was needed in the digital marketplace, which is constantly changing,” he added.
Lasso clients include Revolution Studios, Voltage Pictures, Global Road Studios (the former IM Global) and Italian boardcaster Rai Com. Some Fintage collections clients include MRC, Viacom Media Networks and Hasbro Studios.
Fintage House was established in 1986 and is based in the Netherlands. The company specializes in revenue collection and reporting for rights owners from foreign telecasts and other exploitation of copyrighted material.
Fintage House has also hired veteran executive Reny Montesinos as a business development executive as part of its expansion plans. Montesinos formerly worked for Compact Media, which also specializes in collections for copyright holders in secondary TV and film rights.