Royalty collection platform Songtrust has announced impressive year-over-year growth. As of May 31st, Songtrust has more than 2 million songs under management from 26,000 publishers and 205,000 songwriters from 64 countries. Since Q2 2018, the company has added more than 55,000 songwriters, and now registers more than 5,000 new songs weekly.
Songtrust's client base saw year-over-year increases of 180%, compared to the same period in 2018, and royalty collections rose 70%. Additionally, Songtrust increased the number of songs registered on its global platform by 146%.
Currently, one out of five songwriters in the US touch the platform, and Songtrust now has cuts with 50% of the Billboard Top 50 R&B/Hip Hop Artists. Songtrust also provides publishing solutions for corporate clients including CD Baby, Distrokid, Downtown Music Publishing, The Orchard, Sub Pop Publishing, Trap Nation in 87 countries.
Founded in 2011, Songtrust is owned by Downtown Music Holdings, who also recently acquired CD Baby.
"This tremendous momentum in the marketplace is the result of Songtrust's talented and rapidly growing global team--composed of 80 people across nine offices--and our continued collective focus on educating and bringing global music publishing administration to the large segment of music creators that have not been served by the traditional publishing industry, making it easy, affordable and accessible for everyone," said Molly Neuman, Songtrust's Global Head of Business Development.
As streaming offers every song global reach, Songtrust has also grown its relationships with 34 global collection societies including the top 20 societies, and established new partnerships for 2019 with IMRO (Ireland and globally), WAMI (Indonesia) CAPASSO (Mechanical rights in South Africa), SAMRO (Performance rights in South Africa), and ZAiKS (Growing EU society based in Poland), among a dozen more Songtrust hopes to add this year.