Global music platform Mixcloud has acquired Encore, an online music marketplace.
Founded in 2014, Encore has helped facilitate over 50,000 bookings and helped musicians earn GBP £25 million (USD $33 million) through live performances.
Mixcloud said the acquisition aligns with its goal to support musicians and creators. Through the merger, the company says it expects to provide 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 were not disclosed, Mixcloud said Encore will continue to operate as an independent brand following the deal, focusing on booking musicians, bands, and DJs for various events.
After the acquisition, Nikhil Shah, Co-Founder of Mixcloud and an angel investor in Encore since 2019, will join Encore as its new Chairman. In a 2017 blog, Shah said Mixcloud is focused on audio culture including long-form content, DJ mixes, Podcasts, live sets, and more.
“We are excited to welcome Encore into the Mixcloud family,” said Nico Perez, CEO of Mixcloud.
“Both companies share a deep passion for music, and by working together to use Mixcloud’s global reach and resources, we can provide even greater support to musicians and creators, helping them to earn a living and connect with their audiences in new and innovative ways.”
James McAulay, CEO of Encore and a performing musician himself, described the deal as “a big moment for us at Encore.”
“Teaming up with Mixcloud, a company we’ve long admired who have made an enormous impact on music culture, feels like the perfect next step. I’m excited about unlocking the next chapter of Encore’s growth with the support of Mixcloud to build a larger ecosystem and deliver more opportunities, earnings, and tools to our incredible musicians.”
The acquisition follows Mixcloud’s launch of a number of features aimed at supporting artists including adding a live streaming feature in 2020. In 2018, Mixcloud launched a ‘fan-to-creator’ subscription service called Mixcloud Select. A few months later, the service added new features including the ability for audio creators to offer their subscribers exclusive content behind their own paywall.
The company has licensing deals in place with Merlin, Universal Music Group and Warner Music Group.
Music Business Worldwide
