“The percentage of Top 40 music made with our platform blows my mind” says Splice co-founder Steve Martocci. He tells me about some bedroom music producers who were “working at Olive Garden until they put sounds on Splice.” Soon they quit their jobs since they were earning enough from artists downloading those sounds to use in their songs. That led them to collaborate with famous DJ Zedd, resulting in the Billboard #12 hit “Starving”. Splice has attracted $47 million in funding to power this all-new music economy. That might be a shock considering Martocci estimates that 95% of digital instruments and sample packs are pirated since they’re often expensive with no try-before-you-buy option. Even Kanye West got caught stealing the trendy Serum digital synthesizer. But Splice lets artists pay $7.99 per month to download up to 100 samples they can use royalty-free to create music. That’s cheaper than it costs to listen to music on Spotify. Splice then compensates artists based on how frequently their sounds are downloaded, and has already paid out over $7 million. Splice Sounds is like an iTunes Store for samples “We try to make more seats at the table in the music business” says Martocci, who previously founded messaging app GroupMe which sold to Skype for between $50 million and $80 million in 2011. “GroupMe was made to go to concerts with our friends. Music has always been my motivator, but code is my canvas. Artists come up to me and hug me because I’m changing the creative process.” Splice co-founder Steve Martocci But now he’s getting some big name assistance, attracted by Splice’s success in the stubborn musician community and its $35 million Series B from December.
Its first EV, the Taycan, should be revealed next year.