spotify

spotify

Courtesy of Trac

Music tech startup Trac, which helps independent artists distribute songs, merchandise and NFTs, has raised $2.5 million in pre-seed funding led by Nigerian investment firm Zrosk.

Launched in 2020 by founder Cardin Campbell, a former marketing tech executive at Peloton and Expedia, Trac pitches itself as a one-stop shop for musicians to monetize and manage their careers. The Santa Monica-based company allows artists to upload songs and get them distributed on major streaming services like Spotify and Apple Music. It also lets artists design and sell merchandise like shirts, hats and hoodies through websites that the platform builds for them.

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Photo by Joshua Hoehne on Unsplash

Things are moving rapidly these days in startupland, particularly in the suddenly crowded red-hot audio space.

Just six months ago, Betty Labs pivoted for a third time – from sports gambling to live audio – and the third time proved to be the charm, as Spotify announced Tuesday it was buying the Los Angeles company for an undisclosed sum.

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Spotify is now matching your music taste to podcasts. The new predictive algorithm is one of a host of new products the Swedish company announced Monday.

It also unveiled a new premium service called HiFi with improved sound and a Snapchat-like feature for artists to share video clips.

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