Global music marketplace BeatStars, where Lil Nas X found his "Old Town Road" beat, has paid out more than $50 million to producers who license and sell their work on the platform, the company announced on Tuesday (June 11).
Founded in 2008 by entrepreneur Abe Batshon, BeatStars allows music producers to upload and license their work to artists via a digital database. The site boasts more than 340,000 active sellers and has given birth to several notable hits, including Lil Nas X "Old Town Road" with Billy Ray Cyrus, which features a beat from Netherlands-based BeatStars user YoungKio and has now topped the Billboard Hot 100 chart for 10 consecutive weeks.
“The $50 million earned mark for our creators is an amazing achievement for the community that we serve and the company we are striving to build,” said Batshon in a statement. “We hope to continue creating tools to empower music entrepreneurs like never before in the music industry and help foster a sustainable new economy for music producers and songwriters around the world, for years to come.”
Other tracks sourced from BeatStars include Future and Rihanna’s “Selfish" (produced by Mantra), 6ix9ine’s “Kooda” (Koncept P), Flipp Dinero’s “Leave Me Alone” (Young Forever Beats), Queen Naija’s “Medicine” (30Hertz), Joyner Lucas’s “I’m Not Racist” (The Cratez) and Youngboy Never Broke Again’s “Highway” (The Martianz).
BeatStars notes the company has experienced rapid growth in recent years and paid out $20 million to artists in 2018 alone — a 100% increase over 2017. The platform currently hosts over 1.5 million tracks.