Epidemic Sound raises $20M at a $370M valuation for its soundtrack music discovery and licensing platform
The rise of streamed video has seen the market for licensing streamed music boom in the last few years, with not only consumers using video as a medium to listen to tracks but video creators also extensively using music as part of their own productions. Today, a startup that has built a platform to capitalise on the latter of those two uses is expanding its business.
Epidemic Sound, a startup out of Sweden that lets video producers — creators for social media platforms, advertising folks, film producers and more — search for music and then license it to use as soundtracks on their videos, has raised $20 million in funding at what we understand is a $370 million valuation.
Its music licensing customers include a lot of “household” names, from YouTubers and creators on Instagram, TikTok and the rest, to big agencies and popular premium streaming video destinations like Netflix.
On the musician side, however, this is not the place to find a Taylor Swift track (not yet, at least): it’s a lot of mostly anonymous names who are professional jobbing musicians who are either doing this for supplementary income until they do hit the big time, or as an end in …read more
Source: Tech Crunch