SoundExchange collects and distributes digital performance royalties on behalf of more than 250,000 recording artists’ and master rights owners’ accounts and to date has paid more than $8 billion in distributions.
Through unparalleled innovation of financial tech products and services, it distributes royalties to creator groups, advocates for fair pay across platforms, and creates systems that improve how the industry operates.
Its proprietary fintech solutions help turn data into accurate revenue for creators and include: Music Data Exchange (MDX) and International Standard Recording Codes (ISRC) Search. Click here to learn more about SoundExchange.
The Chief Business Development Officer (CBDO) is responsible for establishing and executing the organization’s new business development and revenue growth strategy.
This role is critical to the company’s broader strategic planning and key in determining and fostering long-view business transformation.
The CBDO is responsible for full-scope revenue growth, including new business development, expansion of existing revenue generators, and monetization of existing business lines, products, and services.
This pragmatic visionary
- identifies new uses and applications of the Company’s infrastructure, assets, data and competitive intelligence;
- envisions new services and product lines;
- identifies target partners and/or customers;
- establishes revenue models, value propositions and pricing to create diversified revenue streams;
- drives deal closures with new partners;
- ensures collaborative activation and implementation, by engaging with colleagues across Technology, Operations and Marketing to define and refine new products, services and ventures;
- contributes proactively to the execution/operations teams to maximize the long term viability of each existing and new initiative.
Utilizing existing Company expertise, assets and relationships, the CBDO seeks out services and revenue opportunities, focusing on expansion of the SoundExchange Companies’ lines of business in music tech and rights management (and beyond). Working under the President and CEO and in conjunction with the Executive Team, the CBDO collaborates with all operating units to research and cultivate services that meet current and future customer needs. The CBDO thinks strategically about the business trajectory of the SoundExchange family of companies, and the potential short- and long-term areas for diversification, driving growth by staying vigilant for any opportunities that may arise.
The CBDO constantly monitors the music, entertainment, and technology landscapes to identify emerging uses of music, future industry trends and the music fintech requirements they create. The CBDO’s broad vision will capitalize and expand upon the many current projects that exist within the music tech & media space. The CBDO must be a seasoned executive in the music tech or entertainment industry with experience assessing and analyzing market opportunities, determining compelling revenue producing models, and driving partnership activities from identification and due diligence through to deal closure and successful collaborative implementation across the enterprise.
Location and Reporting
This is a full-time role based in New York, Los Angeles or the Bay Area and will report to the President and CEO.
- Architect with the President and CEO, a vision for the function including how to best leverage current operations and technology assets; criteria for new deals and partnerships; the company’s approach and style around negotiation; and internal and external processes for ensuring sustainable growth.
- Establish the best repeatable process and protocols for the business development function, to streamline management of deal flow and initiatives that are novel but also executable and realistic.
- Evaluate, optimize, renew and/or restructure existing deals, and simultaneously attract new high impact deals.
- Oversee the identification, exploration, and analysis of new business opportunities and develop new strategic business initiatives that support the diversification objectives of the company.
- Lead the organization’s entry into emerging categories where music and other intellectual property is used, such as social media, gaming, live streaming, esports, fitness, in car entertainment, crypto, NFTs, the metaverse and VR/AR.
- Develop the company’s short-term and long-term strategic business plan and achieve targets.
- Oversee the research, evaluation, and negotiation to expand SoundExchange’s sources of revenue.
- Serve as key dealmaker for new initiatives and partnerships.
- Combine strategic thinking and sharp executions with relentless ambition and energy to enable the business to achieve its goals.
- Collaborate with internal teams across the organization and subsidiaries to identify SoundExchange assets to be leveraged for deal fulfillment and development of new industry tools.
- Drive execution of the business strategy by working collaboratively with other Executive Team members, ensuring that the strategy is communicated and easily understood by all involved in its execution.
- Successfully build and maintain relationship with department heads and key executives across the business.
- Generate incremental revenue through identification and pursuit of major new business ventures. Monitor and manage joint ventures and strategic partnership arrangements.
- Collaborate with key marketing and communications stakeholders to maximize new business efforts and ensure cohesiveness of messaging in relation to strategic business plans.
- Engage external business and industry experts to advise on business strategies, constantly remaining alert and forward-thinking about opportunities and risks in the industry.
- Effectively manage the Business Development team and consultants responsible for developing new business opportunities.
- Work well across all levels of the company, and demonstrate superior emotional intelligence.
- At least 15-20 years senior management experience with demonstrated success in building new business lines in the music tech or media space.
- Strong knowledge of the music ecosystem
- Significant knowledge of music & media industry trends.
- Experience with music publishing a plus.
- Strong networking and relationship skills with an ability to identify and engage with prospective partners.
- Experience conceptualizing, writing and reviewing business plans and value propositions for new products and lines of business.
- Track record of aligning interests and closing complex deals that generate long term mutual value.
- Demonstrated expertise in project management: successfully overseeing transition from idea conception, to deal closure, to implementation.
- Strong decision-making ability and judgment with a results-orientation.
- Ability to be strategic with a willingness to dig into the details and roll up one’s sleeves when needed.
- Ambitious creative thinker skilled at finding new products and areas ripe for company involvement.
- Highly collaborative team player with outstanding interpersonal skills.
- Demonstrated ability to build and analyze business plans, create financial models, and perform strategic analysis.
- Ability to translate and communicate complex topics in a variety of forums, tailoring communications to effectively fit and influence the targeted audience.
- Strong executive presence, presentation, and communication skills.
- Familiarity with financial reporting, company analyses, and methods for assessing industry trends. Strong financial acumen and analytical knowledge.
- Highest levels of ethics, work ethic and engagement with a demonstrated ability to perform well in a high pressure, fast-paced environment.
- Master’s Degree in business or related field or equivalent experience preferred.
A competitive salary and benefits package will be offered, commensurate with the role and the relevant experience of the final hire.
SoundExchange is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, protected veteran status, disability status, age, or any other status protected by law. Further, the company strives to create a diverse, welcoming, equitable and inclusive environment for all applicants, employees, members and partners.