Music

Music market BeatStars has paid $200 million to creators to date

Music market BeatStars has paid $200 million to creators to date

In December, we suggested the music industry shouldn’t sleep on the creator revolution, after Singapore-based music creation platform BandLab raised a major new round of funding.

BandLab’s Series B was revealed in April to have closed at $65 million, with a post-money valuation of $315 million, and comes at a buoyant time for the music creator industry.

Today provides further proof of that, as music production market and distributor BeatStars reveal it has paid $200 million to date, to creators around the world who license and sell beats and sounds through its platform.

The payout update was officially revealed by founder Abe Batshon on Twitch on Wednesday, June 1.

BeatStars’ new payout figure marks the latest financial milestone for the company, after revealing in July last year that it had paid out $150 million to creators.

Abe Batshon told MBW that BeatStars hopes to pay close to $100 million this year and that the company has “plans to grow that revenue exponentially over the next 5 years with innovative new business models and global accessibility.” .

The platform, founded in 2009, announced in July 2020 that it had paid $85 million to its creators since its launch.

BeatStars, which has been the source of samples for hits like Lil Nas X Old Town RoadCard B At the topand Drake’s Lemon Pepper Freestyle, reports to have 3 million active members in over 100 countries.

Outside of his beats market, BeatStars Deals tools like Beat Stars Studio, Beat Stars Promote, To beat IDENTIFIER, Beat Stars Distribution, and Beat Stars Publishing, in partnership with Sony Music Publishing.

“While this is a milestone that few companies have taken, for us it is just another motivator to continue our mission of empowering millions of music creators around the world. .”

Abe Batshon

Speaking to MBW, Founder Abe Batshon said, “The $200 million given to our creators from our platform is just a reminder of the larger goal we have as a company, which is to have an impact on people’s lives.

“While this is a milestone that few companies have taken, for us it is just another motivator to continue our mission of empowering millions of music creators around the world. .”

Batshon added, “Since our launch in 2009, we’ve seen so many ripple effects on the creator economy due to the success our creators have had at BeatStars.

“We have seen complementary services like sound libraries, distribution, publishing and labels explode over the years due to the millions of songs created on our platform. We hope to see even more innovation in the space to help our creators have more opportunities to earn a living doing what they love to do.

Commenting on how he thinks BeatStars is positioned in the market in 2022, Batshon said that “although the market is starting to heat up and become competitive, BeatStars remains the most innovative platform run by the most caring and driven people. of our industry. .

Asked about his predictions for the future of the Music Creation Marketplace industry, the impact it will have on music release, and the revenue-generating opportunities it will bring to creators, Batshon told MBW that “BeatStars has single-handedly shortened the industry average time it takes an artist to create a song and commercially distribute a song, perhaps in half over the past 10 years.

He added: “Clearly indicated by the number of releases that appear daily on Spotify. We believe this trend will continue and with all the new products coming to BeatStars, we will be the driving force in enabling millions more songs to be released. be created and distributed worldwide.The music industry around the world