Music production marketplace and distributor BeatStars reveals that it has paid out $200 million to date, to creators worldwide who license and sell beats and sounds via its platform. The payout update was officially revealed by founder Abe Batshon on Twitch.
Abe Batshon told MusicBusinessWorldwide that BeatStars is hoping to pay out close to $100 million this year and that the company has “plans to grow those earnings exponentially over the next 5 years with new innovative business models and global accessibility”.
BeatStars, which has been the source of samples for hits like Lil Nas X’s Old Town Road, Card B’s Up, and Drake’s Lemmon Pepper Freestyle, reports to have 3 million active members in over 100 countries.
Outside of its beats marketplace, BeatStars offers tools like BeatStars Studio, BeatStars Promote, Beat ID, BeatStars Distribution, and BeatStars Publishing, in partnership with Sony Music Publishing.