We wrote about startup Hook last October when it raised $3m of funding to build its platform for licensed fan-made remixes.
Now the company has announced a deal with Downtown Music that will add the latter’s catalogue to its library, and generate royalties for its clients when fans remix the songs.
“We are challenging the idea that music on social media and UGC [user-generated content] only provides promotional value,” said CEO Gaurav Sharma. “We believe fan remixing and UGC is a new form of active music consumption and rights holders should be paid for it.”
Sharma is the former chief operating officer of Indian streaming service JioSaavn, founding New York-based Hook after he left that company.
The startup is planning to launch its app in beta next month (September), with the promise that it will provide artists and labels data on how their music is being remixed and shared on social media, as well as royalty payments for that usage.
