SliceThePie’s SoundOut Gets $2 Million Funding For Song Analytics
UK based SoundOut, an division of fan funding platform SliceThePie, has raised $2 million in equity funding from a number of private investors and entrepreneurs. Tens of thousands of online "scouts" have used the platform to generate 6 million reviews rating 75,000 tracks. SoundOut claims this comparative database can predict the commercial potential of a new release in any genre in any market.
It's a bold claim, but media, labels and artists eager to focus limited resources appear to be buying in. SoundOut’s new reasearch service for radio tracks every new release in the US and UK markets with online music scouts identifying tracks with hit potential.
Independent artists are primarily using SoundOut via partnerships with Sonicbids, IODA, InGrooves, CDBaby, SoundCloud and others.
"The funding announced today will enable us to further accelerate this adoption over the coming months and significantly advance our SoundOut technologies,” according to SoundOut CEO David Courtier-Dutton.