VANCOUVER, British Columbia & NEW YORK–(BUSINESS WIRE)–May 15, 2024–
Beatdapp, the leading fraud detection company in the music industry, and 7digital, a Songtradr company, the leader in B2B end-to-end digital music solutions, are excited to announce a strategic partnership aimed at integrating Beatdapp’s state-of-the-art fraud detection technologies into the 7digital music ecosystem. This collaboration marks a significant step forward in the fight against streaming fraud, enhancing transparency and accountability in digital music consumption and protecting the rights of legitimate musicians and artists.
Shockingly, research shows that up to 10% of all streams are fraud across global platforms. When considering that every point of market share is worth about $200 million USD, even a conservative 5% fraud rate makes the industry’s ‘billion dollar problem’ apparent, and all the more vital to combat. 1
Through this partnership, 7digital will incorporate Beatdapp’s fraud detection service into its existing suite of music distribution and streaming benefits. For 7digital and Songtradr clients, leveraging this benefit means gaining access to a leading team of experts with a cross-platform, cross-vertical view of fraud, armed with an array of models operating at the track, artist, user and device level, to detect fraud, bots and stolen user accounts with accuracy and confidence.
The partnership positions Beatdapp, 7digital and Songtradr as industry leaders in this space, offering clients unparalleled access to the tools needed to protect the rights holders at every level.
“Partnering with 7digital aligns with our mission to restore trust in digital music streaming by tackling fraud head-on,” said Morgan Hayduk and Andrew Batey, Co-CEOs of Beatdapp. “Our technology not only detects anomalies in streaming data but also ensures the integrity of the data from which artists and rights holders are compensated. This collaboration is a pivotal moment for the industry, as we bring transparency to billions of digital transactions worldwide.”
James Priestley, Chief Commercial Officer of 7digital, expressed enthusiasm about the partnership, stating, “Providing Beatdapp’s fraud detection service to our clients represents another transformative advancement for 7digital. By enhancing our technology stack with Beatdapp’s innovative solutions, we are poised to deliver even greater value to our clients and further cement our commitment to a fair and transparent digital music ecosystem.”
The integration promises to fortify the foundations of digital music, making the industry more secure, transparent and equitable for all parties involved.
About Beatdapp:
A trusted partner of streaming services, music labels, collection societies, creator tools services, and distributors, Beatdapp is a venture-backed streaming fraud detection company focused on eliminating streaming fraud and ensuring fair compensation for artists. The company is headquartered in Vancouver, B.C, with offices in Los Angeles and Toronto. With its leading technology and team of experts, Beatdapp is set to revolutionize the music industry by providing accurate and transparent streaming data for the music industry that is expected to reach 1.2 billion paid consumers and generate $75 billion in revenue by 2030.
Founded by industry and technology veterans Pouria Assadipour, Andrew Batey, and Morgan Hayduk, Beatdapp has emerged as a leading music technology company with deep domain expertise, customer empathy, and the technical ability to solve the most challenging problems presented by the explosion of streamed music consumption worldwide.
About 7digital:
7digital, a Songtradr company, is the global leader in B2B end-to-end digital music solutions, providing a scalable cloud-based platform that enables companies and brands to connect to its global music catalog and rights management system to launch and manage unique and engaging music experiences. Operating worldwide in over 80 markets and integrated with more than 300,000 labels and publishers, 7digital’s platform automates the complex and time-consuming processes of music management, making it easier to access and use music in streaming services, social media, home fitness, gaming, retail and more. With best-in-class infrastructure, deep industry expertise and intelligence tools, 7digital empowers their clients to innovate, grow and serve tomorrow’s music consumer. For more information, visit http://www.7digital.com.
About Songtradr:
As the world’s largest B2B music company, Songtradr delivers the only full-stack solution for all business music needs. Songtradr’s mission is to change the music industry for good through technology, creativity, and transparency. Trusted by global businesses, agencies, and labels, their fully integrated products and services help amplify brands while enabling artists and rights holders to realize the full potential of their catalog. Whether licensing a classic song, developing a global music strategy, or creating a sonic identity, Songtradr helps translate ideas into powerful, ROI-driven solutions to ensure content always hits the right now.
View source version on businesswire.com:https://www.businesswire.com/news/home/20240515398976/en/
CONTACT: For additional information, interviews, or media inquiries:For Beatdapp please contact Lisa Kornblatt atlkornblatt@thecstreet.com.
For 7digital, a Songtradr company, please contact Justin Cortes atJustin.Cortes@propellergroup.com
KEYWORD: UNITED STATES NORTH AMERICA CANADA NEW YORK
INDUSTRY KEYWORD: ENTERTAINMENT TECHNOLOGY ONLINE MUSIC AUDIO/VIDEO SOFTWARE LICENSING (ENTERTAINMENT)
SOURCE: Beatdapp
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PUB: 05/15/2024 08:15 AM/DISC: 05/15/2024 08:17 AM