Music-creation platform Splice launched its Splice Sounds sample library in 2015, and by October 2018 it had paid out $10m in royalties to the musicians who’d created its samples. Now the company has announced another milestone.
“Together, you and fellow artists have paid $25 million to other musicians for their sounds on Splice,” it explained in a blog post aimed at Splice users. “Since Splice Sounds launched in 2015, you and your fellow creators have downloaded millions of samples from thousands of sample packs to produce your beats, scores, tracks, soundscapes, and more.” That suggests that Splice Sounds has been generating around $938k of monthly payouts since its last milestone (although if the store has been growing, you can assume that the monthly amount is over $1m now).
The new milestone comes nearly a year after Splice raised $57.5m of Series C funding at an externally-estimated valuation of $285m, having grown its community of musicians to more than 2.5 million.