Market Overview

Hal Leonard and Avid Enter into Five-year Multi-million Dollar Agreement to Distribute Pro Audio & Video Products

Share:

BURLINGTON, Mass., Sept. 05, 2018 (GLOBE NEWSWIRE) -- Avid® (NASDAQ:AVID), the leading technology provider that powers the media and entertainment industry, and Hal Leonard LLC, the largest music print publisher in the world, and a leading distributor of books, gear, software and music technology to thousands of music retailers and online music stores, have entered into a new five-year agreement that extends the reach of Avid's market-leading creative tools with artists, creative professionals, aspiring pros and educational institutions through Hal Leonard's large network of resellers around the globe. This long-term agreement, signed in July, is among Avid's largest distribution deals to date and represents an annual multi-million dollar value to Avid, while providing for Hal Leonard's distribution professional audio and video products through authorized resellers in the Americas, Australia, New Zealand and selected countries in EMEA.

Avid tools and solutions are offered to the global market by the company's well-established network of distribution partners including Hal Leonard. With this new distribution agreement, Hal Leonard's long-standing commitment to Avid offerings has grown to incorporate a greater selection from Avid's iconic product portfolio now including Media Composer® video editing software, Pro Tools® digital audio software, Sibelius® music notation software, and Avid's pro mixing and integrated solutions for live sound in regions where Hal Leonard carries specialized authorization.

"As an experienced distributor of Avid products, we believe this agreement gives us a lot of growth potential that will allow us to tap into new markets," said Larry Morton, Hal Leonard's President. "Our goal is to bring an expanded product mix to a wider dealer base and, with Avid, we can offer them the industry's best and most widely used solutions. We've succeeded in the recording category with Pro Tools, and now we're pursuing video and other areas that present an opportunity for us to diversify and use our strengths in distributing products seamlessly while giving great service to retailers."  

"Avid is excited to become even more thoroughly represented through Hal Leonard to get our creative software tools and solutions into the hands of more musicians, composers, producers, engineers and others to help them achieve their best work in the studio and on stage," said Jeff Rosica, CEO & President at Avid. "Our companies have enjoyed a longstanding collaboration, with Avid's popular products for the creative community being perfectly complemented by Hal Leonard's global reach and prominence. While this expanded relationship opens up new opportunities for both companies, in particular for Avid this new long-term agreement largely underscores the opportunity with our creative software suite and subscription offerings, which will contribute to further growth of Avid's recurring revenue stream beginning in the third quarter of 2018."

About Hal Leonard
Today, Hal Leonard is the world's largest music print publisher with publications for learning virtually every instrument imaginable. The company leads the way in technology, developing eBooks, digital sheet music, apps and more, and operates many popular websites including SheetMusicDirect with thousands of songs arranged for different instruments available for download, and GuitarInstructor.com for online guitar lessons and tab. With its catalog of more than 220,000 available titles, Hal Leonard represents many of the world's best known and most respected publishers, artists, songwriters, arrangers and musical instrument manufacturers. Its products are sold in more than 65 countries throughout the world through Hal Leonard offices and a large network of distributors. Domestically, the company markets to more than 7,500 music stores in the United States and Canada. Visit www.halleonard.com.

About Avid
Avid delivers the most open and efficient media platform, connecting content creation with collaboration, asset protection, distribution, and consumption. Avid's preeminent customer community uses Avid's comprehensive tools and workflow solutions to create, distribute and monetize the most watched, loved and listened to media in the world—from prestigious and award-winning feature films to popular television shows, news programs and televised sporting events, and celebrated music recordings and live concerts. With the most flexible deployment and pricing options, Avid's industry-leading solutions include Media Composer®, Pro Tools®, Avid NEXIS®, MediaCentral®, iNEWS®, AirSpeed®, Sibelius®, Avid VENUE™, FastServe®, Maestro™, and PlayMaker™. For more information about Avid solutions and services, visit www.avid.com, connect with Avid on FacebookInstagram, TwitterYouTubeLinkedIn, or subscribe to Avid Blogs.

© 2018 Avid Technology, Inc. All rights reserved. Avid, the Avid logo, Avid NEXIS, FastServe, AirSpeed, iNews, Maestro, MediaCentral, Media Composer, PlayMaker, Pro Tools, Avid VENUE, and Sibelius are trademarks or registered trademarks of Avid Technology, Inc. or its subsidiaries in the United States and/or other countries. All other trademarks are the property of their respective owners. Product features, specifications, system requirements and availability are subject to change without notice.

PR Contact:
Avid                                                    
Amy Paladino
amy.paladino@avid.com
+1 617-733-5121

Red Lorry Yellow Lorry (Avid's PR agency)
Alex Humphries-French – UK
Tanya Roberts – USA
avid@rlyl.com

Avid Technology, Inc. logo

View Comments and Join the Discussion!