Blockchain-powered music platform Audius has struck a take care of Downtown Music, a transfer the businesses say will carry “tens of millions” of licensed recordings to the music discovery, neighborhood and market platform.
The deal encompasses each the recording and publishing sides of Downtown’s enterprise, and “unlocks a brand new means for Downtown’s artists and labels to instantly join with their followers and management how their music is monetized past the everyday streaming mannequin,” Audius and Downtown stated in a press launch on Tuesday (April 29).
San Francisco-based Audius, which final 12 months stated it had 6 million customers, provides artists a singular means of monetizing their music. Artists on the platform set their very own costs for music and merch, and followers could make direct funds to the artists they wish to assist.
Audius launched its cost system final fall, having beta-tested it for practically a 12 months beforehand. Followers could make funds utilizing USDC, a stablecoin tied to the worth of the US greenback, which may be transformed to any forex. Audius reportedly takes a 10% minimize of any transaction.
The platform has been busy signing licensing offers with artists and impartial music firms together with Skrillex, deadmau5, Disclosure, Zedd, Dillon Francis, Diplo, DistroKid, EMPIRE, Kobalt, Nettwerk Music, Ninja Tune, Merge Data, Ampsuite, Circus Data, Anjunadeep, Anjunabeats, bitbird, Coop Data, Faculty Music, Headroom Data, and others.
It has additionally inked offers with performing rights organizations together with ASCAP, BMI, GMR, ICE, and SESAC.
“When artists and labels can keep full management over how their work is shared and monetized, and followers can instantly assist the music they love, everybody wins.”
Roneil Rumburg, Audius
“Downtown’s wealthy consumer base is among the most revered within the business, and we’re thrilled to carry it to the Audius neighborhood,” Audius co-founder and CEO Roneil Rumburg stated.
“When artists and labels can keep full management over how their work is shared and monetized, and followers can instantly assist the music they love, everybody wins.”
Harmen Hemminga, VP of Product & Companies Technique at Downtown, added: “At Downtown, our mission is to empower creativity, and we try to offer our artists, songwriters, and the companies that work alongside them with progressive alternatives to attach instantly with followers and earn extra from their music.
“Audius opens new doorways for inventive fan engagement and monetization, placing management into the arms of artists and rights holders. We’re excited to see how our purchasers’ catalogs thrive on this distinctive ecosystem.”
“Audius opens new doorways for inventive fan engagement and monetization, placing management into the arms of artists and rights holders.”
Harmen Hemminga, Downtown
For Downtown, the take care of Audius comes as the corporate prepares to turn into a part of the Common Music Group household, following the closing of a $775-million deal late final 12 months between UMG’s Virgin Music Group and Downtown Music Holdings.
The deal, which UMG expects will shut within the second half of 2025, was just lately sophisticated by the launch of a evaluation by European Union competitors regulators.
Throughout its 4 divisions – Artist & Label Companies, Distribution, Music Publishing, and Royalty & Monetary Companies – Downtown serves some 4 million artists and 5,000 enterprise purchasers in 150 nations. The corporate manages the music estates of such influential artists as Meat Loaf, Miles Davis and John Lennon & Yoko Ono.
Downtown says it just lately signed offers with Neton Vega (to Downtown Artist & Label Companies), Jason Mraz (to Downtown Neighbouring Rights), Pamungkas (to Downtown-owned companies firm FUGA), and Cameron Montgomery (to Downtown Music Publishing).Music Enterprise Worldwide
