Royalty-collections firm Songtrust has put out some new stats to show the growth of its business. It now manages more than 2m songs from 26,000 publishers and 205,000 songwriters, having added 55,000 of the latter in the last year.
“Songtrust’s client base saw year-over-year increases of 180%, compared to the same period in 2018, with royalty collections up by 70%,” announced the company. “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.”
The Downtown Music subsidiary’s global head of business development Molly Neuman added that it now has 80 people working across its nine offices, and that it now works with 34 collecting societies across the world, with 12 more on its wishlist to sign partnerships with in 2019.