Music licensing marketplace SONGTRADR and music credit database JAXSTA seal exclusive partnership with $1 million investment.
Founded in 2015, the Australian technology company purports to be “the world’s largest dedicated database of official music credits”.
The SONGTRADR / JAXSTA partnership is the first since SONGTRADR announced a $30 million USD capital raise in August.
The investment in Jaxsta is by way of a secured convertible note which comes with a five-year exclusive revenue share agreement between the companies.
As neighboring rights is quickly becoming the preferred royalty stream of global collection, the partnership will allow Jaxsta Pro members to use the Songtradr platform to collect and manage their neighboring rights income.
Songtradr will access Jaxsta’s music credits database for identification of black box royalties from sound recordings on digital and broadcast media.
Jacqui Louez Schoorl, Jaxsta's CEO and Co-Founder, stated, "We are thrilled to be partnering with the team at Songtradr. This partnership highlights the significant opportunities that exist in solving the data-centric challenges faced by the music industry. Songtradr can provide an enhanced global product leveraging the use of official metadata only available through Jaxsta."
Songtradr is the largest B2B music licensing marketplace in the world providing music creators and rights owners with a complete tech-enabled solution for rights management and monetization while providing B2B music users such as brands, advertisers, filmmakers, SVOD and broadcast networks, gaming, streaming and social media platforms with highly-efficient, AI guided access to music.
Jaxsta is the world's largest public-facing and most connected music credits database and technology. Partnered with the industry's leading major and independent record companies, as well as publishers, distributors, royalty agencies and industry associations, Jaxsta is the go-to authoritative source of official music credits information. The Company's core platform, Jaxsta.com, is a free and paid subscription service and provides B2B data-solutions for the music and related media industries. Jaxsta ProBeta, the Company's subscription service, harnesses the power of Jaxsta's data to help music industry professionals connect, save time, and advance their businesses and careers.