Music Industry News

FUGA Acquires Songspace

FUGA Acquires Songspace

FUGA CEO Pieter van Rijn

Late last year, digital distribution company FUGA unveiled a new deal with an eSports giant.

Expanding its business, Riot Games signed a deal with the distributor to handle its music catalog for League of Legends.

Under the agreement, FUGA would distribute the catalog throughout the world, except for China and South Korea.  In addition, the distributor would also handle K-Pop tracks by virtual group K/DA.

At around the same time, Canadian label Monstercat signed a deal with the major digital distributor.  The label handles music for Rocket League, another popular cross-platform video game.

Still on the move, FUGA Italy unveiled a new deal with Planet Records.  The agreement covers Planet Records’ roster of Latin American and European acts, as well as other artists and labels distributed through Planet Distribution.  Interestingly, FUGA Italy first launched in March 2018, locking down over 40 new clients since then.

Now, the digital distributor has confirmed a major acquisition.

Going down to Tennessee.

FUGA has completely acquired Nashville-based rights management platform, Songspace.

Financial terms of the deal remain undisclosed.  According to Billboard, however, FUGA will invest more than $1.5 million to develop and grow the Songspace platform over the next two years.

Songspace first launched in 2014 with over 250 publisher and record label clients.  These include Kobalt, Reservoir Media, Big Deal Music, Sentric, and Downtown Music Publishing.  FUGA, in turn, has over 500 label clients, including Mom + Pop, Domino, Epitaph, and Ultra.  The distributor reportedly manages 4.5 million tracks and makes over 5 million ‘deliveries’ to digital service providers (DSP) each month.

The rights management platform provides artists, producers, business, creators, and other users with a cloud-based app.  The app serves to manage songs, lyrics, publishing splits, session files, and co-writers.  Songspace also contains songwriting and publishing metadata, and helps identify gaps in key metadata.

With the acquisition, the rights management platform will continue to operate independently with its current leadership team.

Speaking about the purchase, Songspace CEO Robert Clement said this was “just the beginning.”  In addition, the company aims to serve as “the only independent platform for all music content owners.”


Featured image by FUGA.

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