Entertainment

CD Baby hits $1 billion in artist payments – Billboard

Independent artist distributor, publisher and service platform CD Baby has paid out more than $1 billion to artists since its founding in 1998, the company says. Billboards. The platform is now home to over 1 million independent artists worldwide and has distributed over 10 million tracks.

CD Baby offers a suite of self-promotion tools for independent musicians, including the digital music marketing platform Show.co, which the company acquired in 2016. It also boasts relationships partners with multiple music and social platforms, including Spotify and Apple Music, both of which have named CD Baby as their preferred distribution partner.

To tout the $1 billion figure, CD Baby – parent company AVL Digital Group acquired by Downtown Music Holdings in May 2019 – notes that the independent music sector accounts for 43.1% of the total music market globally by ownership in 2020, accounting for more than $9.8. billions of dollars in revenue, according to a report released by MIDiA Research in October 2021.

“Through Downtown, we are a group of businesses with specialties spanning the entire industry,” said CD Baby President. Joel Andrews about how the acquisition helped accelerate CD Baby’s growth. “Together, we are much more powerful in driving the success of musicians in their own right.”

CD Baby’s relationship with Downtown began in 2014 when the company partnered with Downtown’s Songtrust to launch CD Baby Pro, a service that communicates with performance rights organizations to collect royalties for artists with headquarters in the United States.

In a statement, Downtown CEO Andrew Bergman said, “As a business partner since 2014, we appreciate CD Baby’s organizational depth and its incredibly loyal customer base, two key drivers of our acquisition. With CD Baby now leveraging resources across Downtown’s entire platform, including technology, royalties, global licensing and capital, we are able to foster equity and innovation. for all creators at lightning speed. ”

CD Baby artist Black Rebecca tell Billboards that the platform “has always provided me with a really reliable way to get my music out to the big DSPs as an independent artist throughout my career. The distribution and release of music can be a really confusing and confusing thing when you understand it yourself but they have made the process so much easier to understand. ”

Notably, CD Baby’s digital music distribution rivals TuneCore and DistroKid are also thriving, with the former hitting the US$1 billion mark in 2017. Meanwhile, DistroKid is valued. $1.3 billion after an investment by Insight Partners in August.

https://www.billboard.com/pro/cd-baby-1-billion-artist-payouts/ CD Baby hits $1 billion in artist payments – Billboard

Dais Johnston

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