Songtradr

Songtradr

Industry	Music
Founded	2014
Founders	Paul Wiltshire, Helge Steffen
Headquarters	Santa Monica, California, U.S.
Website	songtradr.com

Songtradr is an American B2B music platform that claims to facilitate brands, content creators, and digital platforms in their use of music for licensing purposes. As of 2019^[update], Songtradr was the largest music licensing platform in the world.^[1]

The platform offers products that can assist agencies, artists, and labels in the finding, licensing, and managing of music across various formats.^[2]

Platform

Songtradr is an automated music licensing marketplace. As of 2019^[update] it was the marketplace for the work of 400,000 artists across 190 countries.^[3] Songs represented on the platform are licensed by companies for advertisements, films, and television content,^[4] and recordings are searchable through the Songtradr database.^[5] Artists can upload their music to the platform and set licensing fees.^[6]

Acquisitions and investments

In 2019, Songtradr acquired the creative licensing agency Big Sync Music.^[4] In 2020, Songtradr acquired Cuesongs, which was originally founded by singer-songwriter Peter Gabriel.^[7] In 2022 Cuesongs and Big Sync Music were merged.^[8]

In 2020, Songtradr announced it had invested AUS $1.42 million (approximately US $1.03m) in Jaxsta.^[9] This was followed up by a further AUS $3 million investment in April, 2022.^[10]

In March 2021, Songtradr acquired Song Zu, a sound design company with studios in Sydney and Singapore.^[11] In April, Songtradr acquired the music streaming platforms Pretzel^[12] and Tunefind.^[13]

In June 2021, Songtradr acquired MassiveMusic.^[14] The Music Network reported that "the new deal will see MassiveMusic’s bespoke creative and strategic offerings integrated within Songtradr, giving brands and agencies access to a host of tech-enabled music licensing and sonic branding services under the same roof."^[15]

In July 2022, Songtradr acquired music metadata company Musicube.^[16]

In March 2023, Songtradr acquired London-headquartered B2B music company 7digital for £19.4 million (USD $23.4m).^[17]

In September 2023, Epic Games announced it was selling album-sales platform Bandcamp to Songtradr for an undisclosed amount. In October, after the acquisition, Bandcamp fired approximately half of its staff.^[18][19][20]

References

1. "Aussie owned Songtradr acquires London-based Big Sync Music". February 20, 2019.
2. "SONGTRADR ACQUIRES GLOBAL MUSIC TECH COMPANY 7DIGITAL". www.adweek.com. Retrieved 2023-08-15.
3. "Songtradr neemt muzieklicentiebedrijf Big Sync Music over" (in Dutch). February 20, 2019.
4. "'It creates an unparalleled music licensing solution': Songtradr acquires Big Sync Music agency". www.musicweek.com.
5. Chertkow, Randy; Feehan, Jason (September 4, 2018). Making Money with Music: Generate Over 100 Revenue Streams, Grow Your Fan Base, and Thrive in Today's Music Environment. St. Martin's Griffin. ISBN 9781250192097 – via Google Books.
6. "How To Release A Digital Album With Just A Few Hundred Dollars". June 16, 2016.
7. "Songtradr acquires UK-based sync licensing company Cuesongs". Music Business Worldwide. 2020-11-16. Retrieved 2023-08-15.
8. Smith, Dylan (2022-01-19). "Songtradr Merges Peter Gabriel-Founded Cuesongs Into Big Sync Music". Digital Music News. Retrieved 2023-08-15.
9. "Songtradr invests $1m in music credit resource Jaxsta, inks exclusive partnership". Music Business Worldwide. 2020-09-10. Retrieved 2023-08-15.
10. "Jacqui Louez Schoorl leaves Jaxsta". Business News Australia. Retrieved 2023-08-15.
11. "Songtradr Acquires Award-winning Music & Sound Design Company, Song Zu". AP News. 2021-03-09. Retrieved 2023-08-15.
12. "Songtradr acquires music licensing platform Pretzel". April 20, 2021.
13. "Songtradr acquires film tv and gaming music data platform tunefind". April 27, 2021.
14. Miller, Shannon. "Songtradr Acquires Creative Music Agency MassiveMusic". www.adweek.com. Retrieved 2023-08-15.
15. Brewster, Will (2021-06-02). "Songtradr acquires global creative music agency MassiveMusic". The Music Network. Retrieved 2023-08-15.
16. Eggertsen, Chris (2022-06-07). "Songtradr Acquires AI Metadata & Music Search Company Musicube". Billboard. Retrieved 2023-08-15.
17. "Songtradr to acquire 7digital, a UK publicly listed B2B music technology company, in $23.4m deal". Music Business Worldwide. 2023-02-08. Retrieved 2023-02-10.
18. Capoot, Ashley (2023-09-28). "Epic Games is eliminating 16% of its workforce and selling Bandcamp". CNBC. Retrieved 2023-09-28.
19. "Layoffs at Epic". www.epicgames.com. Retrieved 2023-09-28.
20. Ahmed, Aneesa (2023-10-17). "Bandcamp lays off half its staff after buyout by Songtradr". The Guardian. ISSN 0261-3077. Retrieved 2024-03-07.