Hook, the AI social music app that enables fans to create authorised remixes, has agreed a content deal with Downtown Music.
The agreement paves the way for millions of licensed recordings from Downtown’s extensive catalogue to be added to Hook’s library. It also unlocks a new revenue stream for Downtown’s global client base by providing compensation for user-generated (UGC) remixes of their songs.
Amid a debate about the financial returns from short form and social for music, Hook aims to help artists and rights-holders maximise the value of songs used on platforms such as TikTok, Instagram Reels and YouTube.
“Downtown’s partners represent some of the most popular and impactful independent music in the world,” said Hook founder & CEO Gaurav Sharma. “At Hook we are challenging the idea that music on social media and UGC only provides promotional value. We believe fan remixing and UGC is a new form of active music consumption and rights holders should be paid for it. This deal represents a new model for music, social, and AI. The team at Downtown understands our mission and we’re humbled by their support.”
Harmen Hemminga, vice president, product & services strategy, Downtown Music, said: “Whilst music consumption continues to increase, broaden and localise, the trend of music ‘prosumption’ on social platforms is ever-growing. Users of these platforms are including music in the experiences they share with others across a variety of contextual, inventive ways. Hook offers rights holders the ability to monetise these new and creative forms of use.”
At Hook we are challenging the idea that music on social media and UGC only provides promotional value
Gaurav Sharma
Having built a global ecosystem across four core service divisions – Artist & Label Services, Distribution, Music Publishing, and Royalty & Financial Services – Downtown currently supports more than four million artists and 5,000 business clients in 150 countries.
Using ethically trained AI technology, Hook’s platform allows fans to create custom remixes of licensed music on social media. The tech start-up ensures that artists and content owners are capturing the full value of their intellectual property.
A recent study by Pex estimated that nearly 40% of the music used on TikTok is modified in some way – sped up, slowed down, pitched up or down, or mashed up with another track.
Hook, which is set to launch in beta next month, was developed to solve problems with user-generated content payment for rights-holders and tracking usage. Beyond paying artists for UGC remixes, Hook’s platform also gives artists and labels access to data about how and where their augmented music created on Hook is being used.
Sharma previously served as chief operating officer for JioSaavn, India’s largest music streaming platform and one of the first platforms to secure global streaming licences with record labels. Sharma and his team grew JioSaavn to more than 100 million active monthly users prior to his departure.
PHOTO: Shervin Lainez
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