DJ-focused electronic music platform Beatport has officially acquired accounting and royalty distribution company ampsuite.
Beatport, 18, today announced the purchase of an 11-year-old ampsuite via a brief blog post. The concise document points out at the outset that in recent years, Denver-headquartered Beatport has rolled out “tailor-made tools and services for its vast community of independent labels.”
Beatport Hype, an “acceleration program” for Beatport labels “with sales below $15,000 in the last 12 months”, has seen “rapid adoption” since its launch in 2019, according to superiors. The text also acknowledges Beatport’s newer version of LabelBase, “a new information resource and support center for its label users”.
And ampsuite, in addition to offering the initially noted royalty distribution and accounting services, is equipped with music industry promotion and content management software.
Regarding ampsuite’s role within the buying company, executives plan “to power Beatport’s suite of professional tools and services while ampsuite’s existing leadership team continues to provide a wider distribution service to other digital retailers,” according to the companies’ statement.
Addressing the takeover in a statement, Beatport CEO (and Ingrooves founder) Robb McDaniels said in part: “We have a very unique relationship with our content partners and DJs of all types around the world. , and this growing set of tools and services will only help accelerate the growth of our entire community over the next few years.
Going forward – and especially with crowd-based live entertainment looking set to rebound – it will be worth tracking the growth-related impacts of Beatport’s ampsuite purchase.
The acquisition follows a 54% year-over-year valuation drop in 2020 for the electronic music industry, according to the International Music Summit’s 2021 business report.
The annual analysis of the electronic music space released at the end of June 2021 and also revealed a considerable decrease in the number of electronic artists in Spotify’s Top 200. Meanwhile, despite the emergence of livestreams, DJ earnings fell 68% from 2019, to around $300. million in 2020, the report says.
However, it’s worth mentioning in conclusion that Beatport saw 33% year-over-year growth in 2020 despite a 16% year-over-year decline for the broader downloads market, the 2021 outage relays of the IMS.
In November 2021, AI-powered electronic music platform Aimi achieved a $20 million raise, and Apple Music in December launched “exclusive new DJ mixes” from Charli XCX, Jasmine Infiniti, Natasha Diggs and others.
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