Name: Audio Network
Date founded: 2001
The boss: Juliette Squair
Location: South East
Latest turnover: 14.8m
Three-year compound growth rate (%): 35.12
Latest EBITDA: 6.2m
In 1999, founders Robert HurstAnd Andrew Sunnuckscame up with the concept for a music company that made it easy and simple to license high qualitymusic for filmsAndTV. Up until then, the complexity of pre-existing contracts with composers and agents had meant that clearing music had become one of the most difficult parts of the production process.
A key part of the new business model was to produce a new catalogue of music created with content makers in mind.
The company’s website suggested that the first people to embrace the idea were jazz legends John DankworthAnd Cleo Laine, who were later joined by composers such as Evelyn Glennie,Tim Garland,Terry Devine-King,Chris BlackwellAndPaul Mottram. All the composers on the initial hit list encouraged financiers to invest. The idea became a reality in July 2001.
Audio Network has over 70 members of staff, £600 composersAnd around 40 submissions from composers every day, according to the company. And in July 2013, Stripes Group, a US private equity firm, took a minority stake in the company to help it develop technologies and new ways of distributing its music to global markets.
At the end of 2014, Audio Network had been shortlisted for theHigh Growth Business of the Year Award at thePrivate Business Awards 2014. It also announced a series of promotions and new appointments to strengthen itsEuropean TV team, as well as the opening of a new office in Manchester.