• Greek-founded music tech platform acquires London-based Soundmouse for an undisclosed sum
• Orfium has been focused on bringing innovation to the music rights management space since 2015
• Soundmouse connects all stakeholders in the reporting process: broadcasters, programme makers, collecting societies, distributors, labels, publishers, and music creators
The deal aims to bring together the global market leaders in digital music and broadcast rights management and reporting.
According to Orfium’s CEO Rob Wells, the deal will now enable the company to serve the entire entertainment ecosystem across mainstream and digital media. “By connecting creators, rights holders, and music users, we can deliver more value to stakeholders across the board,” Wells said in a statement.
Orfium’s software solution helps music producers, companies, or publishers keep track of the revenue generated on different platforms, like social media ones.
Founded in 2000, Soundmouse connects all stakeholders in the reporting process, and has a team of almost 400 people with offices in the UK, Bulgaria, South Korea, Sri Lanka, Taiwan and Japan.
Expanding into more markets, including CEE
The acquisition will also help Orfium expand in more global markets, including the CEE region.
“Orfium’s acquisition of Soundmouse is paving the way towards Orfium operating in more global territories. Our main focus right now is integrating Soundmouse’s existing operations, team, and technology. We’ll be exploring further potential expansion into the CEE and other regions in future,” the company tells The Recursive.
At a time when it has never been harder for creators, rights holders, and media companies to track and monetise usage with the proliferation of new channels, platforms, and the growth of the Metaverse and Web3, Orfium will continue to work and tackle these challenges, together with the help of Soundmouse.
“Our software, built on advances in machine learning and AI, empowers rights owners, creators, and key stakeholders to realize more value as new platforms for media consumption emerge and scale,” Wells emphasized, adding that acquiring Soundmouse will enable Orfium to scale their product offering and expand deeper into the entertainment industry.
According to Soundmouse co-CEO Charles Hodgkinson, the London-based company has been working to set the standard when it comes to cue sheet management and monitoring for the broadcast and entertainment production space.
“Combine that with Orfium’s expertise in UGC tracking and claiming for publishers, labels, and production music companies and we bring the worlds of digital and broadcast together in an integrated way,” he said in a statement, adding that the two companies will now also look to elevate the industry by leveraging their cutting edge technology and expertise.
