DIY musicians are grabbing an more and more massive market share of the music enterprise.
In response to Midia, self-releasing artists utilizing platforms like TuneCore, DistroKid, CD Child and others generated $1.2 billion in royalties in 2020 – making up over 5% of the full international recorded music business.
In the present day, we be taught that a type of platforms, Downtown Music Holdings-owned distribution platform CD Child, has reached a major monetary milestone of its personal.
CD Child studies to have paid out greater than $1 billion to artists for the reason that firm was based in 1998.
As well as, the corporate says that greater than one million artists worldwide have distributed over 10 million tracks through the platform.
Downtown acquired CD Child as a part of its $200 million acquisition of AVL Digital Group and its portfolio of companies again in March 2019.
CD Child’s relationship with Downtown started in 2014 with the launch of CD Child Professional, a songwriter royalty assortment resolution for CD Child shoppers utilizing Downtown’s Songtrust platform.
Downtown now has a worldwide workforce of 600 staff in over 20 cities.
The corporate says that “hundreds of thousands of artists, songwriters and enterprise shoppers” from over 145 nations, together with most of the largest music, leisure and gaming corporations, handle over 23 million music property on its platforms.
“With CD Child now leveraging assets throughout Downtown’s platform, together with know-how, royalty assortment, international licensing operations and capital, we’re in a position to drive fairness and innovation to all creators at an accelerated tempo.”
Andrew Bergman, Downtown
“As enterprise companions since 2014, we appreciated the depth of CD Child’s group and its extremely loyal consumer base, two key drivers of our acquisition,” mentioned Downtown CEO, Andrew Bergman.
“Distinctive within the business, they’ve lengthy understood that not all creators are the identical, every having their very own story, ambition and artwork to share.
“With CD Child now leveraging assets throughout Downtown’s platform, together with know-how, royalty assortment, international licensing operations and capital, we’re in a position to drive fairness and innovation to all creators at an accelerated tempo.”
“Our mission has at all times been to work as laborious as attainable to serve musicians devoted to doing their very own factor, their approach. Our success is a mirrored image of their success.”
Joel Andrew, CD Child
CD Child President Joel Andrew, added: “For us, it’s not nearly how a lot the highest earners make, but additionally about what the payout means to the entire distinctive artists we work with who’re charting their very own course, based mostly on their inventive imaginative and prescient and their private variations of success.
“Our mission has at all times been to work as laborious as attainable to serve musicians devoted to doing their very own factor, their approach. Our success is a mirrored image of their success.”Music Enterprise Worldwide
