Songistry – using artificial intelligence to rock the music industry
“We’re solving some incredible problems within the global music industry,” says Curtis Serna, CEO of Songistry, “and we’re thrilled to be doing it right here in the Edmonton region.”
Songistry is using the power of artificial intelligence and machine learning to unlock value across the entertainment industry. It’s run by the innovative minds of CEO Curtis Serna, two-time nominee for Entrepreneur of the Year in Canada and Justin Gray, Founder and Chief Creative Officer. Justin is a Canadian born producer and songwriter who has worked with top tier artists, Avril Lavigne, Mariah Carey, John Legend, Amy Winehouse, and international artists including J-Pop Super Stars Superjunior, Chinese Mega Star Chris Lee and most recently enjoyed twelve, #1 hits in China including a hit with TF Boys’ Roy Wang. Justin brings a combination of music credibility and a personal understanding of the challenges faced by artists and the entertainment industry related to digital copyright, publishing, and royalties.
In 2019, approximately 46 million music creators and corporations lost out on the opportunity to collect royalties due to a lack of copyright information (often referred to as “metadata”), resulting in a 2.5-billion-dollar loss (USD). Songistry’s premier product, MDIIO (Music Data Intelligence In/Out), solves this problem and more. MDIIO is a music asset/copyright management tool and marketplace that leverages the latest developments in AI to protect the work of music creatives worldwide. By using copyright and other metadata details, MDIIO helps artists and music corporations protect their hard work, assets, and livelihoods. MDIIO is driven to provide Canadian artists a scientific, competitive advantage in getting their music discovered and licensed in TV/ film and advertising.
Justin was first inspired to create the platform when he realized how vulnerable songwriters were to being taken advantage of.
“A system that hasn’t traditionally supported songwriters is ripe for disruption,” said Justin. “Having worked in music for 20 plus years, I was really saddened to see songwriters and creators getting the short end of the stick. Especially with the onset of digital music streaming. Songwriters were the slowest to adapt and therefore the most vulnerable. I wanted to make sure that songwriters were provided a platform that not only fostered their creativity and organized their assets, but also democratized monetization of their hard work.”
When Justin was introduced to Curtis, who initially came on as an investor it quickly became evident that Curtis had the commercialization expertise that Songistry needed to help bring MDIIO to life and to help protect the interest of songwriters.
MDIIO is now being featured in Global Affairs Canada’s Spring 2020 Software and Technologies Dealbook. The Dealbook is “a tool formulated to increase exposure to some of Canada’s most promising technology companies,” says Chief Trade Commissioner of Canada, Aillish Campbell. MDIIO fits the bill and their placement in the Dealbook has helped Songistry increase its profile to international audiences. In the first day the Dealbook was launched, Songistry was approached by two venture capital groups from Silicon Valley, that are interested in leading the investment into the Edmonton-based company.
The MDIIO platform allows creatives, from songwriters to artists, to musicians, bands, DJ’s and composers, to upload their music, apply metadata to their copyright, and then register the song with SOCAN, Canada’s performance rights organization that collects royalties for members. SOCAN is comprised of 170,000 members, 86% of which are unaffiliated independent artists and songwriters. MDIIO represents and helps protect these artists and their copyrights, while getting their work in front of companies such as Netflix, Hallmark, and Sony to name just a few studio networks. MDIIO works as a marketplace where these companies can come to license music for various projects – allowing more artists to monetize their work and gain exposure by leveraging science as their competitive advantage.
MDIIO has multiple features specifically designed to help spotlight the work of indie creators while simultaneously helping music supervisors find new music for their tv/ film or advertising projects. These licensors that use MDIIO have access to features such as mood track analysis, and dynamic emotional analysis (visualizing the emotion of the song on a second by second basis), as well as several additional A.I. features in development – all designed to allow licensors to find that perfect song that evokes the right emotions and story alignment without the complexity and the higher price points often associated with more well-known songs. For example, a mainstream Bruno Mars song can be licensed on average for $500,000. MDIIO’s recommendation/ search engine can identify songs that sound similar to Bruno Mars for a fraction of the cost, making the value proposition very attractive to licensors and network studios.
Creators who use MDIIO don’t have to compromise between gaining exposure and a paycheck. MDIIO receives a 20% commission on licensing transactions facilitated through the MDIIO platform, which is far less than agents who charge 50 to 75% in commission.
With so many innovative features and incentives, it is no surprise that there are more than 3,600+ creators from 19 different countries using MDIIO, representing 15,000 songs being hosted on the platform today. Not all users are indie creators; in fact, some of these users include high profile songwriters that have collaborated with the world’s biggest artists such as Beyonce, Rihanna, Shawn Mendes, and Madonna (to name a few).
As MDIIO continues to grow on the home stage, Songistry is simultaneously striving to expand the platform farther into Asia, where Justin Gray continues to leverage his extensive success and relationships. Songistry has already begun preliminary conversations with labels, publishers, and management companies in Greater China and Asia.
“China is an important emerging market for us,” says Justin. “As copyright protection becomes more critical and major players such as Tencent and Youkou move into royalty-based payment systems, the necessity to track all of the pertinent and important data associated with copyright is more important than ever. Over the next 5 years, royalties and copyrights via China alone will amount to billions and billions of dollars. Someone needs to help provide the infrastructure and ability to shepherd these revenues and create new business models. Songistry/MDIIO is technologically prepared to do exactly that.”
“Despite the impacts of COVID, we continue to grow,” says Curtis, “but no amount of success will ever change the fact that we are an Alberta corporation with access to tremendous support and resources. Edmonton provides us the competitive advantage we would be hard-pressed to find elsewhere.”
You can read more about what the Songistry team is up to here.