Corbis CEO Gary Shenk explains why they’re excited about music licensing

Gary Shenk

We were pretty intrigued with the idea of GreenLight Music — the new digital music licensing business from Seattle-based Corbis — when we first wrote about it a couple weeks ago.

So, you can hear Corbis CEO Gary Shenk discuss the idea in greater detail this week on CNBC’s Fast Money.

GreenLight operates an online marketplace where companies can secure rights to music for use in corporate videos, tradeshows, sales meetings and Web sites. Users choose how many days they plan to use the song and for what purpose. Then, they can submit a bid of how much they’d pay for the song.

“We thought, as this industry has evolved, how can we bring more products to our customers? And entertainment is an obvious way for people to break through the cluttered world that we live in,” Shenk says. Here’s the full interview:

  • Jcricket

    Corbis has never, ever, once made any money in its entire existence. Unlike a startup, this is a 19 year old business, losing $20m/year, no matter how much revenues its pulling in. It’s Gates’ pet project masquerading as a business. If one of Bill’s advisers wakes up tomorrow and says, hey Bill, lets stop writing checks to this and fund a startup, or light the money on fire, or give it to malaria relief, Corbis would go out of business overnight.