2021 was already a giant yr for SoundCloud. It could be about to get quite a bit larger.
Business sources are telling MBW that Eliah Seton, the broadly revered Warner Music Group veteran, is about to hitch the streaming music service in a senior function.
If true, Seton’s hiring can be one other main coup for brand spanking new SoundCloud CEO, Michael Weissman, following the launch of the service’s “fan-powered” royalty mannequin earlier this month, and the appointment of Troy Carter to SoundCloud’s board in February.
Seton’s departure from WMG was confirmed by the key music firm earlier immediately (April 7). In a press launch, Seton famous that he can be “sharing my subsequent chapter with everybody very quickly”.
New York-based Seton spent over a decade at Warner Music Group, main the corporate’s international impartial companies division, ADA Worldwide, for the previous six years.
As such, Seton has enviable relationships with the worldwide impartial group – each labels and artists – which might clearly be thought of a power by indie-focused SoundCloud.
Having acquired artist companies firm Repost Community in 2019, immediately SoundCloud has a direct monetized (distribution and/or companies) relationship with round 100,000 indie artists worldwide.
The potential rent of Seton raises the query of how formidable this a part of SoundCloud’s enterprise might grow to be, and even whether or not the corporate might make a play for extra direct relationships with impartial labels in future.
In the meantime, Seton has spectacular M&A expertise, having performed a key function in WMG’s strategic acquisitions around the globe in areas reminiscent of China and Japanese Europe.
SoundCloud definitely has capital to put money into M&A, following a $75m funding from SiriusXM final yr.
From 2019 till this month, Eliah Seton held the place of President of Unbiased Music & Creator Companies for Warner Music Group worldwide, encompassing ADA.
In 2017, he oversaw the re-launch of WMG’s iconic Asylum Data as a brand new label specializing in streaming and providing uniquely versatile recording offers to new and rising artists.
As of November 2020, some 12 million creators (together with musicians, DJs, podcasters and so on.) had been being heard on SoundCloud each month.Music Enterprise Worldwide