NASHVILLE (CelebrityAccess) – Digital supply chain and marketing company FUGA has acquired full ownership of Nashville-based rights management and creative workflow platform Songspace.
Under the terms of the acquisition, Songspace will continue to operate as a standalone platform with its entire leadership remaining in place.
Songspace’s software pulls together music publishing assets such as metadata, audio files, agreements and writer contacts and identifies gaps in the data, including accreditation and lyrics. The company currently works with 250 publishers and record labels including Kobalt, Reservoir Media, Downtown Music Publishing, Big Deal Music and Sentric.
FUGA, whose platform manages 4.5 million tracks, is listed on the highest distributor tier for Spotify and Apple: a Preferred Plus distributor and encoding house for Apple and preferred label distributor and recommended delivery platform for Spotify. Its 500-plus clients including Epitaph Records, Ultra, DominoCurb, Mom + Pop, and mtheory.
According to FUGA, it plans to make a “significant investment” into Songspace over the next two years to build out the Nashville firm’s offering and further its team’s expertise. The goal is to combine the capabilities of both companies in order to “provide the only unified, end-to-end solution for record labels and music publishers that supports the full lifecycle of music”.
Commenting on the acquisition, FUGA CEO Pieter van Rijn said: “New technology has the potential to revolutionise digital rights management for rightsholders, streamlining the ecosystem in a way which makes businesses more efficient and profitable. We are looking forward to significantly investing in Songspace’s excellent platform and creating synergies in the field of data transparency and matching, which will ultimately enable our clients to manage all rights data under one roof.”
Songspace CIO/CTO Darren Briggs added: “The combined strength and capabilities of the Songspace and FUGA teams and technologies position us to expand and enrich our agnostic products and services across the entire music IP and rights lifecycle.”
Songspace co-founder and CEO Robert Clement said: “I can’t say enough about how hard the Songspace team worked for this outcome and it’s just the beginning. Our mission is to build enterprise level products and services with the best user experience possible and make FUGA+Songspace the only independent platform for all music content owners.”
Headquartered in Amsterdam, FUGA has offices in London, New York, and Milan with representatives in Seoul, Sao Paulo and Tokyo.
