The way we listen to music is changing. Instead of buying a CD or downloading an mp3, listeners today access their favourite tunes through streaming services like Apple Music and Spotify. And while streaming services make it easier than ever for users to discover new music, they present a challenge for music labels. How can music labels accurately track how many times a song is played on a streaming service so that the creators of our favourite songs and albums are compensated fairly? Beatdapp Software provides a real-time audited play count for song usage across streaming platforms. This allows music labels to accurately collect music royalties due.
Interview with Andrew Batey, CEO of Beatdapp Software
What we do
With music labels reporting an average discrepancy of 15% between play counts reported and payouts received, we saw an opportunity to improve the process and help labels grow their streaming royalties more quickly. Our platform makes it easier to collect royalties by providing real-time, accurate audit reports of streaming play counts. We help streaming services by proving their play counts while reducing potential litigation and helping them comply with new music legislation requirements.
We’re proud of the growth our team has achieved. After developing a custom blockchain application capable of processing over 1 million transactions per second, we were able to raise $1 million in funding to expand our service (200% oversubscribed).
Beatdapp’s innovation and potential has been recognized by six top accelerators, including Vancouver-based CDL-West, 500 Startups, and Project Music Portfolio
Our biggest challenge
When we began developing Beatdapp, we were starting almost from scratch. That meant extensive research, development and testing needed to be done. We spent 15 months iterating our core technical product to ensure it could handle the high-volume of transactions that this kind of service demands.
Five years from now…
Within the next four to six months, we expect to be the largest in-market provider of usage reporting technology for streaming content. Within 18 months, we expect to be the market leader. And building on that success, in five years, we expect to have annual revenue of over $200 million.
Why the New Ventures BC Competition?
Since coming out of “stealth mode” and making Beatdapp widely available, we’ve seen a huge demand for this service. We were even 200% oversubscribed for just fundraising for Beatdapp within four weeks! With $25 million in our customer pipeline, we need to ensure that we have the resources we need to deliver.
About the founders
Andrew is no stranger to creating and launching innovative technology. In addition to launching numerous mobile apps, Andrew’s projects include a peer-to-peer action sports media sharing economy; the world’s first Bluetooth-enabled, self-locking, decentralized bike share system; and an in-store rental fleet management application.
Andrew has combined his technology experience with business and academic acumen. After earning an MBA from Trinity Western University (TWU), Andrew has continued his work in education as a professor at TWU and at the Fashion Institute of Design and Merchandising.
Pouria brings eight years of full-stack programming experience and three-years of developing cryptocurrency trading and blockchain applications to his role as CTO at Beatdapp. In his previous role at EasyMarkit, Pouria worked closely with clients, stakeholders and development teams to introduce new features and strengthen the core product. Pouria also spent time as a web developer at the University of British Columbia, where he earned a Bachelor of Applied Science degree in Electrical and Computer Engineering in 2016.
Beatdapp is headquartered in Vancouver, with an office in Los Angeles.