NEW YORK, April 16, 2014 /PRNewswire/ -- 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 TuneCore's
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
world's fastest-growing markets including Australia, Indonesia, Malaysia, the Middle
East and North Africa as
well as throughout the UK and US. The company's 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 company's 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 company's proprietary Sync and
Master Licensing Database and in-house Creative team. Some of
the high-profile placements include:
- The Black Box: ABC TV's new medical drama debuting on
April 24, 2014
- New Girl: FOX Network's hit situation comedy starring
Zooey Deschanel
- Hoovey: Upcoming movie release from EchoLight Studio that
retells the inspiring true story of athlete Eric "Hoovey" Elliott's
recovery from a near-fatal brain tumor
- ESPN First Take: Morning sports talk show airing on ESPN
weekdays
- America: Documentary by Dinesh
D'Souza debuting July 4,
2014
Applauding TuneCore Artists' Successes
No celebration of TuneCore's 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.
"TuneCore's continued growth is proof that the music business is
alive and well. It's just changing from what it was 50 years ago,
and that's a good thing," commented TuneCore President Scott Ackerman. "We're 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