FAST COMPANY FLAGS 10 INNOVATORS

Fast Company picked out 10 music companies that have “elevated the music industry” and are expected to have an impact long after COVID-19 pandemic ends. Tainy’s Neon16, Royalty Exchange and Beyoncé’s Parkwood made the list.

The top 10, along with the reasoning behind their selection.

1. NEON16. For empowering urban Latin culture across entertainment via a talent incubator and music label run in partnership with Interscope Records.
2. VERZUZ. Everyone wins on Timbaland and Swizz Beatz’s battle platform that drives streaming numbers and renews interest for older artists.
3. PARKWOOD ENTERTAINMENT. Beyoncé’s management and entertainment company has elevated Black culture via film, fashion, and new artists.
4. BEATSTARS. The online marketplace for producers to sell their beats to artists has grown to more than 2m users receiving more than $100m in payouts.
5. HARMONIX MUSIC SYSTEMS. The makers of Guitar Hero and Rockband return with Fuser where players remix up to four tracks at a time.
6. BANDCAMP. The music e-tailer put musicians first by waiving fees one Friday every month and the introduction of a ticketed live streaming service.
7. DOLBY. During the pandemic, the audio company introduced tools to improving the sound quality of livestreams and recordings.
8. ROYALTY EXCHANGE. Via eXchange, Royalty Exchange created a Craigslist style marketplace for the sale of royalties.
9. AUDIOMACK. The streaming platform opened its first international office in Lagos in 2020, and signed a licensing deal with Warner Music making the label’s catalog available across Africa, Jamaica and Canada for the first time. Audiomack will also support Warner Music’s A&R department with data insights.
10. STEM. The music distribution platform introduced Scale to provide cash upfront to artists in exchange for a fixed percentage of future earnings until the advance is paid off. Stem has a bankroll of $100m and has handed out $1.6m since the pandemic began.