Global music platform Mixcloud has acquired online music marketplace Encore.
Founded in 2014, Encore Helped promote more than 50,000 Book and help musicians make money £25 million ($33 million) through live performances.
hybrid cloud said the acquisition aligns with its goal of supporting musicians and creators. Through the merger, the company said it expects to offer a more comprehensive suite of tools and services to help artists grow their careers, monetize their work and connect with their audiences.
While financial terms of the acquisition have not been disclosed, Mixcloud said that after the deal closes, Encore will continue to operate as an independent label focused on booking musicians, bands and DJs for various events.
After the acquisition, Nikhil shahThe co-founder of Mixcloud, who has been an angel investor in Encore since 2019, will join Encore as its new chairman. Shah said in his blog in 2017 that Mixcloud focuses on audio culture, including long-form content, DJ mixes, podcasts, live performances, etc.
“We are delighted to welcome Encore to the Mixcloud family,” said Nico PerezCEO of Mixcloud.
“Both companies share a deep passion for music, and by working together and leveraging Mixcloud’s global reach and resources, we can provide greater support to musicians and creators, helping them make a living and connect with each other in new and innovative ways. Audiences connect.
James MacaulayEncore CEO and performing musician himself described the deal as “an important moment for us at Encore.”
“Partnering with Mixcloud feels like the perfect next step, a company we have long admired and has had a huge impact on music culture. I’m excited to begin the next chapter of Encore’s development with the support of Mixcloud,” Building a larger ecosystem and providing more opportunities, income, and tools for our incredible musicians.
Prior to this acquisition, Mixcloud launched a series of features designed to support artists, including the addition of live streaming capabilities in 2020. A few months later, the service added new features, including the ability for audio creators to offer exclusive content to subscribers within their own paywalls.
The company has entered into licensing agreements with Merlin, universal music group and Warner Music Group.
global music business
