A music technology company backed by Sir Elton John and Sir Paul McCartney is recruiting a trio of senior executives to bolster its ranks.
Sky News understands that Audoo, which helps artists to receive fairer royalty payments, will announce on Wednesday that Steve Clark, global chief operating officer at Round Hill Music; Isabel Garvey, chief operating officer at Warner Music UK; and Sean O’Malley, chief executive officer & founder of Regard Music, are joining the company as advisors to its board.
Audoo, which has raised more than $22m (£16.8m) from investors since its launch, has established a presence in 15 countries through its Audio Meters, which bolster the accuracy and transparency of music royalty distribution.
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Ryan Edwards, founder and chief executive of Audoo, said the trio’s “varied experience across major music labels, publishers, and PROs [performing rights organisations] will be invaluable to Audoo’s growth, not to mention relationship-building with international partners”.
Sir Elton joined the company’s share register late last year, adding his name to that of Sir Paul and Abba’s Bjorn Ulvaeus.
Mr Edwards was motivated to set up the company after hearing his own music played at football stadia and in bars, without receiving any payment for it.
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Estimates have suggested that artists lose out on as much as $3bn globally in unaccounted royalties each year.
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London-based Audoo’s monitoring devices recognise songs played in public venues, with a reported 99% success rate.
It has struck what it describes as industry-first partnerships with organisations including the music licensing company PPL/PRS to track and report songs played in public performance locations such as cafes, hair salons, shops, and gyms.
Mr Edwards has spoken of his desire to establish a major presence in Europe and the US because of their status as the world’s biggest recorded music markets.
