According to Beatdapp Software, a music data tracking company that bills itself as “the leading authority on fraud detection,” streaming fraud embezzles approximately $2 billion annually from artists’ royalties and allocates that money to low-quality content. Owners, this content is designed to squeeze cash out of streaming revenue.
“No one notices, a few cents are spent on this song, a few cents are spent on that song, but overall, they can steal billions of dollars,” Beatdapp co-CEO said Andrew Beatty and Morgan Haiduk Tell sky news recent.
“This money would have gone to the real artists to pay managers, agents, lawyers, record labels, publishers. But instead it was siphoned off and went to professional fraudsters who were just stealing from the industry. .
Beatdapp is certainly doing its part to solve this problem, working with various music industry companies to give them access to its fraud detection system.
The latest such partnership is betpotprovides digital music services for EDM, specifically for DJs.
The companies said in a statement that Beatport will integrate Beatdapp’s fraud detection technology, allowing it to provide “daily, weekly and monthly streaming charts free of manipulation or fraud” and “provide users with access to music Accurate insights into trends and consumption patterns”. Tuesday (July 9).
Beatdapp said its technology analyzes large amounts of data to detect fraudulent flows and ensure artists and rights holders are paid legitimately. The company said it analyzed more than 2 trillion streams and 20 trillion Data points for 2023.
“We launched Beatport and Beatsource branded streaming products in 2019, and while they have not historically been the target of streaming fraud, suspicious activity has been increasing in recent months,” said Helen Sartorichief revenue officer of The Beatport Group.
“While our fraud rate is still half the industry average, we rely on accurate streaming data to not only provide artists and labels with fair compensation, but also for track recommendations and analytics. We’re excited to partner with Beatdapp works together to ensure our data represents true audience engagement.
“Despite the fact [Beatport prpducts] Streaming media has not historically been a target for scams, but suspicious activity has been increasing in recent months.
Helen Sartori, Beatport
Beatport launched in 2004 as an online music store and tried to compete with Spotify as a music streaming service in 2015, but quickly withdrew. It has since repositioned itself as a DJ music resource and acquired DJ streaming service assets pulse lock A DJ subscription music service was launched in 2018, and a subscription music service was launched in 2019.
The company has since made a series of acquisitions that have given it a larger share of the DJ music business, including acquiring a sound pack and plug-in retailer Loop Master 2020; Music Discovery Portal tag radar 2022; and music industry technology companies amplifier kit same year.
In 2023, acquire a majority stake international music summit (IM trumpet), hosts the annual EDM music festival IMS Ibiza. In the same year, Beatport also collaborated with believeOwn DIY dealer Tuningenabling TuneCore artists to distribute their music to Beatport users.
“At Beatport, we are always committed to leveraging cutting-edge technology to enhance our users’ music experience.”
Rob McDaniels, Beatport
Beatport CEO said: “At Beatport, we are always committed to leveraging cutting-edge technology to enhance our users’ music experience.” Rob McDaniels explain.
“Partnering with Beatdapp fits perfectly with our mission to proactively address streaming fraud and ensure a fair and transparent environment for artists and listeners.”
Beatdapp’s Batey and Hayduk added that they are “pleased to partner with Beatport, an industry leader that shares our commitment to fighting streaming fraud. Together we will ensure artists are paid fairly and accurately for their work, while users Confident in the legitimacy of their streaming numbers.
“At Beatdapp, our mission is to protect the digital frontier of the music industry. By integrating our fraud detection technology with Beatport’s platform, we enable artists and rights holders to receive fair compensation for their creative efforts . Priya Asadipur explain.
“By integrating our fraud detection technology with Beatport’s platform, we enable artists and rights holders to receive fair compensation for their creative efforts.”
Pouria Assadipour, Beaddapp
For Vancouver-based Beatdapp, the deal with Beatport is just the latest in a series of partnerships the company has signed over the past year, perhaps most notably with universal music group Beatdapp appears during fundraiser $17 million in a new round of financing.
Beatdapp also signed a partnership with the social music platform Hangouts FMand an artificial intelligence music startup bumi – The deal comes months after Boomy faced embarrassment after being blocked from uploading music. Spotify Due to concerns about streaming scams.global music business
