The two million members of US digital music distribution platform DistroKid can have their credits added to the global database of Jaxsta after the two companies inked a data partnership agreement on Tuesday (July 19).
Australian publicly listed firm Jaxsta, which claims to be “the world’s biggest database of official music credits,” has an existing database of more than 240 million music credits from over 15 million artists globally.
Founded in 2015, Jaxsta sources its data from nearly 300 data partners including record labels, publishers and industry associations. These partners include Sony Music, Universal Music, Warner Music and The Recording Academy, among many others, according to its website.
DistroKid, launched in 2013, is a digital music distribution service that artists use to put their music into online stores and streaming services like iTunes, Spotify, Apple Music, YouTube Music, Amazon and Deezer.
The company said it distributes 30% to 40% of all new music worldwide.
With the new alliance with Jaxsta, DistroKid’s members will be able to claim and customize their Jaxsta profiles and use them as their resumé for career opportunities, the companies said.
The deal also enables artists to use their DistroKid profiles to create an embeddable “One Sheet,” or an official music CV and get chart alerts and credit alerts from Jaxsta, as well as insights from music markets and access to global chart and industry contact information.
The partnership with Jaxsta comes less than a year after DistroKid achieved a unicorn status after an investment deal with private equity firm Insight Partners valued it at $1.3 billion. DistroKid still counts Spotify and Silversmith Capital Partners among its backers following that deal.
“DistroKid are a fantastic partner and we know that together we will enable the DistroKid community they represent. We welcome all to become Creator members so they can be found and grow their careers via Jaxsta’s incredible data-led insights and industry-leading features.”
Beth Appleton, Jaxsta CEO
Jaxsta, meanwhile, has a market capitalization of AU$10.6 million as of Wednesday (July 21).
Beth Appleton, who was promoted to CEO at Jaxsta in late April, said the company is “thrilled to have DistroKid and the huge community of creatives they represent join Jaxsta.”
“DistroKid are a fantastic partner and we know that together we will enable the DistroKid community they represent. We welcome all to become Creator members so they can be found and grow their careers via Jaxsta’s incredible data-led insights and industry-leading features,” Appleton said.
The development marks Jaxsta’s latest partnership in the music business after forming a five-year exclusive commercial agreement with Los-Angeles based B2B music rights and licensing marketplace Songtradr in September 2020, allowing Jaxsta Pro members to use the former’s platform in collecting missed revenue from the performance of certain sound recordings on broadcast and digital/online media.
It collects members’ royalties and sends 100% of their earnings, minus banking fees and other taxes. Through DistroKid, artists are able to split their earnings from a song or album among collaborators, producers and managers.
The platform also offers its HyperFollow service, which gives artists a pre-save marketing page within minutes of uploading their music. Other DistroKid features include lyrics support and global timed release dates.
Just recently, DistroKid launched a new feature called DistroVid that lets artists upload an unlimited number of music videos to digital service platforms for a fixed fee.Music Business Worldwide