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Music Data is Growing

As technology transforms how we discover, consume, and monetize music, the industry faces a critical challenge: the exponential growth of music data has outpaced our ability to understand it. There are a few industry tailwinds responsible for that transformation:

• There is more music consumption than ever. Global streaming reached 2.29 trillion plays in the first half of 2024—a 15.1% increase from the same period in 2023.
• There is more diversity in popular music than ever. The industry has shifted from being dominated by a few big stars to featuring many smaller artists who gain fame within niche audiences through personalized recommendation algorithms. As such, predicting consumer demand on a by-song basis is becoming more nuanced and technically challenging.
• Music is getting consumed via many distinct channels. As global music demand grows, a well-known artist may find listenership in hundreds of distinct countries, on country-specific digital platforms, radio stations, or in locally produced film or TV.

Royalty Analysis Is Challenging

Music royalties are similarly becoming more challenging to understand. Songs generate “royalties” from a host of diverse channels - streaming platforms, film, TV, radio, live performances, merchandise sales, remixes, and more. These earnings are reported through messy, semi-structured Excel spreadsheets and PDFs known colloquially as “Royalty Statements.” These statements detail how much income has been generated that month or quarter for a given song, by-territory, by-DSP, etc. However, analyzing these files proves challenging:

• Statements often contain millions of rows, exceeding Excel's rendering limits.
• Statements are prone to manual error and can omit crucial information. For example, different statements may use inconsistent song names, list incorrect artists, and completely exclude universal identifier codes that are crucial for attributing payments to recordings.
• Statements cannot easily be ingested into modern data tools. Since statements are unstructured and massive, Traditional BI tools and LLM-based ETL tools are both insufficient.
• It is challenging to link royalty earnings to how much your music is being played. Due to agreements between streaming platforms, distributors, publishers, and other music companies, royalties are distributed via infrequent lump-sum payments often unconnected to actual music consumption. This creates significant uncertainty when analyzing historical cash-flows or projecting future earnings.

The problem is unsolved

Many music companies are stuck using dated technologies like Excel to attempt to understand and analyze their data. Almost every music company struggles with the pain-points above, and many have invested significant resources into solving their challenges. However, many have failed, either due to limited technical expertise, limited collaboration between music experts and technical contractors, or the sheer complexity of the problem.

What we’re building

Our mission is to create an omniscient royalty analyst. We're building a platform flexible enough to process any royalty statement, knowledgeable enough to know every song, and intelligent enough to deliver insights for rights-holders, investors, and managers. As we deliver on our mission of building this foundational data layer for royalty analysis, we’ll unlock powerful capabilities, like linking monetary trends to real-world events (eg. tours, social media viral events), help rights-holders determine the most effective ways to monetize their rights and deliver critical insights on performance benchmarks of song cohorts.

By delivering on our mission, we can help create a fairer, more efficient music industry. Artists and songwriters will gain the ability to audit their earnings, receive more equitable deal terms, recoup missing royalties, and find institutional investors ready to provide liquidity for their assets.

Why now?

Recent advances in generative AI have made it possible to parse unstructured data like Royalty Statements and messy metadata in ways that were previously not possible. As these industry tailwinds will clearly only accelerate, it’s a now-or-never moment for a truly scalable music data solution.

Why us?