The Sounds of Music
by Randy Glein and Jocelyn Kinsey, DFJ Growth
The digital era has transformed how we create, distribute, and consume content. We’ve seen traditional media outlets, who have historically controlled what we read, watch, and listen to, steadily lose relevance as the internet and social media emerged as viable communications mediums. Enter the Creator Economy — where individual creators, like aspiring authors and actors, are empowered by these new technologies to more easily create content, get distribution, and build followings.
Our team at DFJ Growth has had a front row seat to this disruption through our work with innovators like AOL, DIRECTV, Feedburner, Tumblr, and Twitter. During this time, we’ve watched the music industry experience massive change, anxiously looking for the right opportunity to get involved. Our patience has finally been rewarded, leading us to partner with Steve Martocci, Matt Aimonetti, and their incredibly talented team at Splice.
Splice has created the first digital music creation and collaboration platform that enables modern musicians to easily compose, share, and monetize their work.
Steve and Matt launched Splice in 2014 with a shared vision for bringing musicians together online to make music as a community, working in collaboration with each other to foster more creativity and innovation. In the process, they developed a marketplace where musicians can share and sell access to specialized digital music creation software and a vast library of unique electronic samples, sounds, and beats that can be easily integrated into new songs. This suite of products is collectively triggering an explosion of new music content that is having huge influence on popular musical genres like hip hop, EDM, pop, and rock. More than a million musicians are active on the Splice platform, collaborating and sharing their musical creations through the Splice Sounds marketplace, a subscription service offering access to more than a million samples for download on a royalty-free basis. This provides creators with a new forum to get their music discovered and distributed, while also providing a significant new source of income for these musicians.
Before the internet, creating music professionally and turning it into a career was a path inaccessible to most people. There were significant costs to recording a track in a studio and it took years of formal training to learn an instrument. Now anyone can become a music creator with digital tools and a computer. Massive audiences can be attracted via social media. Artists like Grammy winners Justin Bieber and Chance the Rapper were discovered directly by fans online, without representation by the major labels. This democratization of the music creation and discovery process is empowering a new wave of modern musicians, with Splice serving as a key enabler.
At DFJ, we are singularly focused on backing visionary entrepreneurs who are changing the world. Steve and Matt are thinking big and changing the game in the music industry.
This is yet another example of using technology to transform a legacy industry by embracing the spirit of innovation. We are excited to announcement our investment in Splice as they create the digital hub for musicians to create, collaborate, and distribute their music. We can’t wait to hear more sweet sounds of music emanating from the amazing community of creators on Splice.