TuneCore Drives Gains For Music Business, Delivering $34.1 Million In Distribution Earnings To Artists And Increasing Publishing Royalties 190% For Rights Holders In Q1 2014
Showcasing its ability to drive revenue for musicians and composers, TuneCore today announced that artists who distribute their recordings through the platform have earned over $34.1 million in the first quarter of 2014 alone. The revenue was generated from nearly 1.3 billion downloads and streams, a 75% increase over the same period in 2013. TuneCore also disclosed an impressive 190% growth in royalties collected through TuneCore Music Publishing Administration in Q1 2014 compared to Q1 2013. The increases demonstrate TuneCores significant position in the evolving business of music as the company continues to enable artists to successfully be in command of their own careers. An infographic with data and highlights is available at http://www.tunecore.com/index/artist_milestones
Expanding Global Distribution with New Store Partnerships
In addition to delivering gains in revenues to artists, the company also showed considerable momentum in securing new distribution partnerships, providing artists even more opportunity to get their music heard by more people around the world. In 2014, TuneCore has already added four new stores to its expansive distribution network: Bloom.fm, Guvera, Akazoo and Anghami. The new additions offer exposure to new potential fans in some of the worlds fastest-growing markets including Australia, Indonesia, Malaysia, the Middle East and North Africa as well as throughout the UK and US. The companys substantial distribution network now enables TuneCore Artists to get their music out in over 200 countries and territories worldwide.
Driving New Opportunities for Royalties with Publishing Administration
The first quarter of 2014 also saw 190% growth in revenue to TuneCore Music Publishing Administration clients, who benefit from the companys unique solution for worldwide composition registration and royalty collection as well as YouTube monetization.
In Q1 2014, TuneCore also drove revenue for clients through TV and movie placements thanks to the companys proprietary Sync and Master Licensing Database and in-house Creative team. Some of the high-profile placements include:
The Black Box: ABC TVs new medical drama debuting on April 24, 2014
New Girl: FOX Networks hit situation comedy starring Zooey Deschanel
Hoovey: Upcoming movie release from EchoLight Studio that retells the inspiring true story of athlete Eric Hoovey Elliotts recovery from a near-fatal brain tumor
ESPN First Take: Morning sports talk show airing on ESPN weekdays
America: Documentary by Dinesh DSouza debuting July 4, 2014
Applauding TuneCore Artists Successes
No celebration of TuneCores accomplishments is complete without recognizing the artists who the company is dedicated to supporting. For the second year in a row, over 1/3 of the 2000+ acts performing at the annual SXSW Music event in Austin have distributed their music through TuneCore. TuneCore Artists are also taking center stage on television; this season 14 performers chosen for The Voice teams partner with TuneCore.
TuneCores continued growth is proof that the music business is alive and well. Its just changing from what it was 50 years ago, and thats a good thing, commented TuneCore President Scott Ackerman. Were proud to be at the center of the democratization going on throughout the industry and to have such an important role, both in getting music out to potential fans worldwide, and ensuring the artists who make that music can maximize their earnings.
About TuneCore
TuneCore brings more music to more people, while helping musicians and songwriters increase money-earning opportunities and take charge of their own careers. The company has one of the highest artist revenue-generating music catalogs in the world, earning TuneCore Artists $405.6 million on 6.1 billion streams and downloads since inception. TuneCore Music Distribution services help artists, labels and managers sell their music through iTunes, Amazon MP3, Spotify, Google Play, and other major download and streaming sites while retaining 100% of their sales revenue and rights for a low annual flat fee. TuneCore Music Publishing Administration (based in Burbank, CA) assists songwriters by administering their compositions through licensing, registration and worldwide royalty collection, including collection of YouTube revenue in partnership with INDMUSIC. TuneCore is based in Brooklyn, NY and is backed by Opus Capital and Guitar Center. For more information, visit www.tunecore.com.
Source: Tunecore
