Songtradr is a B2B music licensing marketplace headquartered in Santa Monica.
The company claims to connect over 500,000 artists, songwriters and music rights owners to a B2B marketplace of music users such as brands, advertising agencies, streaming platforms, SVOD networks, film, TV and gaming companies.
Songtradr was launched in 2014 by CEO Paul Wiltshire.
In August 2020, Songtradr raised $30 million in a series C funding round, valuing the company at $165m.
The Series C capital raise was led by the St. Baker Australian family office and included a number of other prominent Australian family offices as well as several existing Songtradr investors.
With this investment, Songtradr aimed to accelerate its global expansion plans, product development and fund key acquisitions.
Songtradr previously raised $4m in a Series A funding round in 2018 and $12m in a Series B funding round in 2019.
The company reported at the time to have experienced revenue growth in the first half of 2020 of 160% compared to the same period last year.
Acquisitions and investments
In February 2019 Songtradr acquired creative music licensing agency Big Sync Music Ltd. in a multi-million dollar cash and equity transaction. Big Sync expanded into Australia, New Zealand, France and Germany with Unilever as its anchor client in February 2020.
In September 2020, Songtradr entered into an exclusive partnership with Australia-based, publicly listed technology company Jaxsta. Songtradr invested AUS $1.42m (approximately US $1.03) in Jaxsta (by way of a secured convertible note) and signed a five-year exclusive commercial agreement with a revenue share arrangement between the companies.
In November 2020 the company acquired UK-based boutique sync licensing company, Cuesongs, which represents over 150 independent labels and publishers.
At the start of the global pandemic, on March 21, 2020, Songtradr announced that it would not be taking its usual licensing fees for the next month, and instead passed them on directly to artists.
In an additional example of going the extra mile for indie acts during the age of COVID-19, in April 2020 Songtradr offered artists free, unlimited distribution until September 30 – with 100% of royalties.Music Business Worldwide