LONDON – Wavetick (wavetick.com) has announced the launch of its online music marketplace following a comprehensive beta phase. The platform is designed to empowering music sellers and buyers with a simple, customizable licensing process, as well as fast payments.
Wavetick was founded by music tech entrepreneur Sharooz Raoofi, and is working to disrupt traditional business models in this space by providing a minimum 87.5 percent creator/seller sales income, and extremely simple licensing capabilities. As an artist and music-maker, Sharooz understands that multitudes of beats, loops and songs never generate income and often remain undiscovered. Wavetick’s quick and simple open marketplace solution helps creator/sellers utilize their works while protecting their core rights and ensuring a fair balance of revenue, with unique terms that mean all parties can share in publishing.
Having already attracted some 600,000 individual sound sample downloads in the short time since going live, the platform has no upfront cost and enables sellers to receive instant payouts via their own PayPal account. They also keep a minimum of 87.5 percent of license fees, core rights and a share in future publishing, while additionally setting their pricing and currency, as well as the ability to cancel selling at any time.
The platform’s purchase tiers empower sellers to decide on what rights to grant and what terms via clearly-defined packages across six levels. Each work sold on Wavetick has custom licensable rights attached to it. The price buyers see cover every licensing type. Buyers can purchase samples and tracks to sample into derivative songs, where the publishing is split between the buyer and seller, or license in-house works for pro-use. Wavetick’s own in-house library hosts over 10,000 individual sound samples and 300 tracks with stems with one license fee that covers every usage type, with no expectations.