News - 16/04/2014

Tunecore distributed $34m to its artists in Q1 2014

Tunecore distributed $34m to its artists in Q1 2014


Digital distributor TuneCore today announced a number of figures relating to the platform’s performance in Q1 2014.

First of all, the company has distributed $34.1 million to its artists coming from 1.3 billion downloads and streams. This represents a 75 increase over 2013.

In addition, it looks like the company’s new focus on the publishing sector is starting to pay off as its Music Publishing Administration arm registered a 190% increase in revenues over 2013. The company though didn’t release the actual figures around the publishing revenues as presumably these are still marginal in comparison to those derived from master recordings.

The company is also betting hard on the growth of its TV and movie placement business having created an in-house Sync and Master Licensing Database and an in-house creative team. In Q1 it managed to place tracks in a variety of programs including ABC’s new medical drama The Black Box and FOX’s hit comedy series New Girl.

The company is still a big reference point for the independent community in the US. Out of 2,000 artists that performed at SXSW 1 in 3 was on TuneCore which is a pretty impressive statistic.

 

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