Music creation platform Splice announces artists have earned $5 million in revenue
Over the last four years, music creation and collaboration platform Splice has aimed to connect artists and producers with world-class production tools, creative assets, and a global community of potential collaborators.
Now, the artist hub has announced payouts of $5 million to its participating acts, which is an enormous win for the artistic community. Splice’s announcement also comes with news that the platform is securing a sound future, after securing $35 million in funding to continue to fuel its growth and expansion.
“Our mission is simple: to help musicians maximize their potential,” says Splice CEO and co-founder Steve Martocci in a press release. “Our vision is big: to transform the way musicians create and collaborate, to foster a culture of openness in music, and to uncover new revenue streams for artists through artist-to-artist marketplaces.”
Splice soars above its contemporaries in its extensive royalty-free sample library. Presently, artists like Mr. Oizo and KRANE have monetized their sounds, allowing other producers to experiment with their productions on the platform. The platform’s success and artist-centric mantra points to enormous ways in which other platforms can monetize for their artists, something Spotify has struggled with tremendously over the years. Splice implemented monetization of revenue channels like streaming, licensing, and ticket sales.