Soundstr utilizes a patent-pending music recognition system to accurately track and report music usage in businesses, ensuring fair licensing fees based on actual performance data. This technology enables businesses to reduce costs while providing songwriters with transparent royalty payments when their music is played in commercial settings.
Funding
$890K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Current music licensing models for businesses often rely on estimations or blanket fees, which may not accurately reflect actual music usage. This can lead to businesses overpaying for licenses or songwriters receiving inadequate royalties for their work. The lack of transparency in music performance data hinders fair compensation and efficient licensing practices.
Solution
Soundstr offers a music recognition technology that accurately identifies and tracks music played in commercial environments. This system provides businesses with precise data on their music usage, enabling them to pay fairer licensing fees based on actual performances. The platform also ensures that songwriters receive transparent and accurate royalty payments when their music is played in these settings. By leveraging data analytics, Soundstr facilitates a more equitable and efficient music licensing ecosystem for both businesses and artists.
Target Audience
Soundstr primarily targets businesses that play music in their establishments, such as restaurants, bars, and retail stores, as well as songwriters and performing rights organizations (PROs) seeking fair and accurate royalty distribution. The platform also caters to brands looking to connect with consumers at live music events.
Features
- Patent-pending music recognition system for identifying songs in real-time
- Automated tracking of music performances in businesses and venues
- Reporting tools that provide detailed breakdowns of music usage
- Analytics dashboard to understand where songs are played geographically
- Bluetooth beacon technology for location-based advertising opportunities
- Keychain encryption to ensure data security and authenticity
- Audio ad network to generate additional revenue for businesses