Barcelona-based music technology services company SonoSuite has announced new investment from Colombia’s Dinastia INC, a music services company serving the Latin and urban music markets.
The investment will give Dinastia a minority stake in SonoSuite. The value of the deal was not disclosed.
Dinastia describes itself as a “digital aggregator of music content” that provides independent artists, producers and labels with solutions to streamline the process of managing, licensing and tracking music rights on digital platforms.
SonoSuite said in a statement on Tuesday (October 22) that the company is already a SonoSuite customer and that its investment is strategic.
“We are pleased to welcome this strategic investor who provides valuable industry insights as part of our capital structure table,” SonoSuite CEO sebastian tomorrow explain.
“Meanwhile, the founders retain the vast majority of their shares and control of the company.”
“We are pleased to welcome this strategic investor, who provides valuable industry insights, as part of our equity structure.”
Sebastian Tomorrow, SonoSuite
SonoSuite is a SaaS (Software as a Service) company that operates a white label platform that allows independent labels and music publishers to make their catalogs available and manage royalty payouts and reporting. Its partners include SoundExchange, Merlin, PPL, IFPI and Worldwide Independent Network.
In 2023, SonoSuite joined the “Friends of IMPALA” program, which aims to promote cooperation between the company and the independent music industry.
SonoSuite received some bad press earlier this year after the company was said to be working with 3 tonesA distributor cut off by its technology provider for allegedly failing to pay artists and staff.
SonoSuite reportedly provided services to 3tone between 2020 and 2021, but a news report in early 2024 indicated that SonoSuite had contacted various DSPs to inquire about 3tone’s recovery status.
SonoSuite is expanding its presence at a time when independent artists are gaining market share. The company is competing in an increasingly crowded field of digital independent dealers, which includes services such as Tuning and stunted development – and continued interest from major music companies.
To reflect this interest, universal music group Completed 100% acquisition of European independent music group [PIAS] Earlier this month, it included [Integral]a physical and digital distribution services company, will now merge with UMG Virgin Music Group.global music business
