Downtown Music Holdings-owned Songtrust has reported significant year-over-year growth, with strong increases in its client base, songs managed, and royalties collected.
As of May 31, 2019, Songtrust now has more than 2 million songs under its management, from 26,000 publishers and 205,000 songwriters across 64 countries.
Since Q2 2018, the company has added more than 55,000 songwriters, and now registers an average of over 5,000 new songs every week.
Songtrust’s client base saw year-over-year increases of 180%, compared to the same period in 2018, with royalty collections up by 70%.
Additionally, Songtrust increased the number of songs registered on its global platform by 146%.
“This tremendous momentum in the marketplace is the result of Songtrust’s talented and rapidly growing global team, composed of 80 people across nine offices.”
Molly Neuman, Songtrust
Currently, one out of five songwriters in the US touch the platform, and Songtrust now has cuts with 50% of the Billboard Top 50 R&B/Hip Hop Artists.
Songtrust also provides publishing solutions for corporate clients including CD Baby, Distrokid, Downtown Music Publishing, The Orchard, Sub Pop Publishing, Trap Nation, and in 87 countries around the world.
Molly Neuman, Songtrust’s Global Head of Business Development, said: “This tremendous momentum in the marketplace is the result of Songtrust’s talented and rapidly growing global team, composed of 80 people across nine offices, and our continued collective focus on educating and bringing global music publishing administration to the large segment of music creators that have not been served by the traditional publishing industry, making it easy, affordable and accessible for everyone.”
Songtrust recently entered into a global partnership wth the Irish Music Rights Organisation (IMRO).
Last month the company hired Lara Baker as Director of Business Development for the UK and Ireland,Music Business Worldwide