Music Creation Platform Splice Raises $35M in Funding, Pays Artists $5M

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Since 2013, music creation and collaboration platform Splice has aimed to change the way artists and producers share samples, stems, patches and ultimately music. Now, it happily announces it has paid participating artists $5 million in revenue, as well as earned $35 Million in funding to continue its mission.

“Our mission is simple: to help musicians maximize their potential,” Splice CEO and co-founder Steve Martocci is quoted in a press release. “Our vision is big: to transform the way musicians create and collaborate, to foster a culture of openness in music, and to uncover new revenue streams for artists through artist-to-artist marketplaces."

One of Splice's favorite features is its extensive, royalty-free sample library. Artists including Mr. Oizo and KRANE have monetized their signature sound while allowing other producers the chance to play with their palette.

Award-winning artists use Splice not only to share their music but find new sounds, including Oak Felder. He's worked with Rihanna, Ariana Grande and Miguel among others. He also says Splice's library was a key component of his work on Demi Lovato's no. 1 Billboard Hot 100 hit “Sorry Not Sorry.”

“Splice is a real game changer and a treasure trove of inspiration for me,” Felder says. “It’s one of the first things I reach for when I’m creating.”

More than 1 million users have accounts on Splice. It's partnered with music software companies from iZotope to Circle2, Xfer Records and more to offer music-making tools to those users in rent-to-own models, making it easier for start-up producers to get their feet in the door without relying on illegal methods.

Splice enjoys a 324 percent year-over-year increase in payout to artists, which certainly helped investors, led by DFJ Growth with participation from returning investors True Ventures, Union Square Ventures and Flybridge, fork over that $35 million.

“Splice is leading a transformation in the way people make music,” says DFJ’s Randy Glein. DFJ has previously invested in DIRECTV, FeedBurner, Twitter, Tumblr, and XM Radio. “We realize the impact Splice has on the music industry, and with the funding, we are accelerating their vision to enhancing their platform for today’s music creators.”

Visit Splice online to see what it can do for you.