Songtrust Royalty Collections Up 70% in a Year

Songtrust Royalty Collections Up 70% in a Year

Global music royalty collection service Songtrust, whose mission is to remove the complexity of the publishing landscape by offering detailed  artists and rights holders access to data, reports significant year-over-year growth. With more than 2 million songs under its management, Songtrust registers an average of over 5,000 new songs every week from 26,000 publishers  across 64 countries. Since Q2 of 2018, the company has added an additional 55,000 songwriters to total more than 205,000.

Also compared to the same period in 2018, Songtrust’s client base grew by 180% with royalty collections up by 70%. Corporate clients include CD Baby, Distrokid, Downtown Music Publishing, The Orchard, Sub Pop Publishing and Trap Nation.

According to the company, one out of five songwriters in the U.S. touches the platform, which claims cuts of 50% of the top R&B and Hip-Hop tracks.

Said Molly Neuman, global head of business development for Songtrust: “This tremendous momentum in the marketplace is the result of Songtrust’s talented and rapidly growing global team — composed of 80 people across nine offices — and our continued collective focus on educating and bringing global music publishing administration to the large segment of music creators that have not been served by the traditional publishing industry, making it easy, affordable and accessible for everyone,”

New York City-based Songtrust was founded in 2011 and is owned and operated by Downtown Music Holdings. The platform boasts direct relationships with more than 50 performance, mechanical and digital societies covering 120-plus territories around the globe.

Source: Read Full Article

Previous post Maura Higgins' family and friends fear she'll be dumped from Love Island villa after they're banned from voting for her
Next post Paul Rudd in Talks to Join 'Ghostbusters' Sequel