TuneCore Acquires DropKloud And Its Founders

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Dec 18, 2014, 09:45 ET

New TuneCore Boston-Based Innovation Lab Will Launch Fan Engagement App and Explore New Opportunities for Artists

NEW YORK, Dec. 18, 2014 /PRNewswire/ -- TuneCore today announced the acquisition of DropKloud and addition of its co-founders, James DeNino and Kedar Frederic to the TuneCore team. The two will head up TuneCore's new office in Boston, where they will focus on product development in a new TuneCore innovation lab. This purchase furthers TuneCore's commitment to provide artists with the tools and resources needed to flourish in the music industry.

TuneCore brings more music to more people, while helping musicians and songwriters increase money-earning opportunities and take charge of their own careers. The company has one of the highest artist revenue-generating music catalogs in the world, earning TuneCore Artists $438.8 million on 8.8 billion streams and downloads since inception. TuneCore Music Distribution helps artists, labels and managers sell their music through iTunes, Amazon MP3, Spotify and other major download and streaming sites while retaining 100% of their sales revenue. TuneCore Music Publishing Administration assists songwriters by administering their compositions through licensing, registration and worldwide royalty collection, including YouTube monetization.

DropKloud is a modern, digital enhancement to the street team promotion, allowing artists to drop digital content - whether it's exclusive access to a song, an invite to a pop-up showcase or behind the scenes photos - into 'Klouds' available to fans in specific physical locations. Following a beta launch at SXSW 2014, the app is being further developed and is expected to launch in spring 2015 as an exclusive TuneCore Artist Services.

"As technology continues to shape the music industry, TuneCore strives to be at the forefront of the evolution," said Scott Ackerman, CEO of TuneCore. "We are excited to be able to provide the unique DropKloud product to TuneCore Artists as another tool to help them engage even more fans and expand their career as independent musicians. Our new innovation lab will be committed to creating cutting edge tools for our artist entrepreneurs."

James DeNino and Kedar Frederic both bring distinctive backgrounds and expertise that will help fuel and grow TuneCore's offerings.

"Joining the TuneCore team was such a natural transition for DropKloud," said James DeNino, Director of Product Strategy at TuneCore. Kedar Frederic, Director of Product Innovation, echoes that same enthusiasm by saying, "Our mission of providing Independent artists with innovative services that don't exist today is completely in-line with the TuneCore philosophy."

About TuneCore
TuneCore brings more music to more people, while helping musicians and songwriters increase money-earning opportunities and take charge of their own careers. The company has one of the highest artist revenue-generating music catalogs in the world, earning TuneCore Artists $471.5 million on 10.6 billion streams and downloads since inception. TuneCore Music Distribution services help artists, labels and managers sell their music worldwide through iTunes, Amazon Music, Spotify, Google Play, and other major download and streaming sites while retaining 100% of their sales revenue and rights for a low annual flat fee. TuneCore Music Publishing Administration assists songwriters by administering their compositions through licensing, registration and worldwide royalty collection. Additionally, the Artist Services portal offers a suite of tools and services that enable artists to promote their craft, connect with fans, and get their music heard around the world. TuneCore is headquartered in Brooklyn, NY with offices in Burbank, CA, Nashville, TN and Boston, MA, and is backed by Opus Capital and Guitar Center. For more information, visit www.tunecore.com.

For information contact:
Casey Stickles ([email protected])
Alisa Finkelstein ([email protected])
MWW, 212.827.3753

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SOURCE TuneCore