Online platform Seed, which caters to Latin music industry, to launch new program
As part of its mission to help the new generation of independent artists, producers, and music entrepreneurs, the Seed online platform announced the launch of R3, an educational program where users will learn to register their music and collect their royalties internationally in three steps. The program will go live Oct. 28, platform officials said.
Seed offers a variety of custom music contracts and templates, as well as e-books and online courses that promote their professional development.
The R3 program has more than eight training modules with strategic and practical videos, support by academic tutors in each of the lessons, and a certificate of completion.
“Our mission is to democratize the music industry. We want to live in a world where creatives and musicians can turn their passion into a profitable, stable, and scalable business. And we believe that education is the most powerful tool for them to achieve this,” said Alexiomar Rodríguez, founder and CEO of Seed.
“One of the problems we want to solve has to do with collecting royalties. As of 2019, Billboard magazine estimated that there was $250 million in unclaimed royalties. Usually, this happens due to problems in the registration process, and that is why we created our R3 program,” he said.
Seed is currently participating in the San Juan-based Parallel18 accelerator program, Rodríguez confirmed.
The independent artist industry has experienced, and continues to experience, exponential growth, he said. He cited a study by the Raine Group which estimates that in 2020, this sector generated $2 billion in profits, representing an increase of 32% in just one year, even amid the pandemic.
The arrival of digital service providers (e.g., Spotify), social media, and platforms such as SoundCloud and YouTube have promoted the growth of Latin music more than that of any other genre, music industry officials have said.
“In the same way that there are multiple and new opportunities, there is a lot of ignorance about issues such as royalties, copyright, music contracts, and the importance of developing business skills,” Rodríguez, a music and entertainment lawyer.
Seed has been sharing free content through social media and YouTube for more than two years and has nurtured a community of more than 40,000 people in more than 25 countries, he said.
“The fact that one of the most successful music projects in the world is independent is a game-changer for the entire industry. And personally, the fact that it is Puerto Rican fills me with pride and inspires me to dream big,” said Rodríguez, alluding to Noah Assad and Rimas Entertainment.
“I’m convinced that there’s no other place in the world where there is more musical talent per square mile than Puerto Rico. The time has come to monetize that talent and help the local creative industry create wealth,” he said.