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Beatroot drives the development of its platform with investment from The North West Fund

Fund: Digital Creative

Music intelligence platform Beatroot is using a £250,000 venture capital investment from The North West Fund for Digital & Creative to drive the development of its unique platform, as well as a targeted B2B marketing campaign, as it rolls out its services across the music industry...

Based in Macclesfield, South Manchester, Beatroot offers a profiling and cataloguing service, using a series of complex algorithms and metadata to 'anatomise' tracks, providing accurate search and discovery functionality across music catalogues. Analysing information such as mood, tempo and instrumentation, the platform enables a music catalogue to have extensive search and meta-data management capabilities, allowing record labels and music publishers to better leverage licencing opportunities.

With the majority of record labels and music publishers making 90 per cent of their revenue from a mere 10 per cent of their inventory, Beatroot allows these companies to monetise the under-utilised 90 per cent of their music catalogue. Labels and publishers will be able to generate multiple revenue streams from their catalogue including brand partnerships, improved synchronisation for TV and films, playlists for streaming services, and ideas testing.

Since the launch of its product at the end of August 2015, Beatroot has seen considerable interest in its services, launching with prolific industry figures such as Universal Music, Sentric Music, Domino Records and Woodwork Music.

Over the next 18 months the firm plans to upgrade its equipment and expand both its development and marketing teams. Following this, Beatroot aims to explore the potential consumer angle of its product, and are currently investing in further research to develop features such as intelligent playlisting, and incorporate a mobile solution.

Co-founder and product director Chris Garrett, said:"We are delighted to have received investment from The North West Fund. Like us, they believe that after 10 years of tough times, the music industry is now entering an exciting period of growth, particularly focused around technology and innovation. We recognised an opportunity to create software in the music industry that removes a pain so many struggle with on a daily, if not hourly, basis. We realise the potential this could have in terms of saving money and time for a label or publisher, whilst significantly increasing the opportunities available to them to licence a track.

"So often technology is blamed for the decline of the music industry, but we are now aiming to portray tech in a different light, and show how it can be used to stimulate growth. Doug Morris, CEO of Sony Music, was recently quoted as predicting that the music sector will make a full recovery back to the $30bn industry it was in 2005, and we're looking forward to working with our clients and partners to be part of this rapid growth."

 

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