Hoopr raises ₹4 crore to boost smash & music licensing growth
The music licensing industry has witnessed significant growth in recent years, with the rise of digital platforms and the increasing demand for copyright-safe music. In this landscape, Hoopr, a music licensing startup, has emerged as a key player, providing high-quality, licensed music to creators and businesses. In a recent development, Hoopr has raised ₹4 crore in an extended pre-Series A round, valuing the company at ₹160 crore. This funding will play a crucial role in driving the company’s growth, particularly in expanding its popular feature, Hoopr Smash, enhancing user experience, and strengthening its engineering, curation, and partnerships.
The Music Licensing Landscape
The music licensing industry has undergone significant changes in recent years, driven by the proliferation of digital platforms and the increasing demand for licensed music. With the rise of social media, video streaming, and online content creation, the need for copyright-safe music has never been more pressing. However, the traditional music licensing process has been criticized for being complex, time-consuming, and expensive. This is where Hoopr comes in, offering a streamlined and transparent music licensing platform that connects creators with high-quality, licensed music.
Hoopr’s Growth Story
Hoopr has made significant strides in the music licensing industry, with a catalog of over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard. The company’s growth can be attributed to its user-centric approach, which focuses on providing high-quality music that meets the diverse needs of creators. Hoopr’s platform offers a wide range of genres, moods, and styles, making it an ideal destination for creators looking for licensed music.
Expanding Hoopr Smash
One of the key areas of focus for Hoopr is expanding its popular feature, Hoopr Smash. Hoopr Smash is a platform that allows creators to discover and license music for their content. With the new funding, Hoopr plans to enhance the user experience on Hoopr Smash, making it easier for creators to find and license music. The company will also invest in strengthening its engineering and curation teams, ensuring that the platform remains robust and scalable.
Strengthening Partnerships
In addition to expanding Hoopr Smash, the company plans to strengthen its partnerships with artists, labels, and other industry stakeholders. Hoopr believes that building strong relationships with these partners is crucial to driving growth and ensuring that its catalog remains diverse and high-quality. The company will also focus on developing a transparent royalty ecosystem, ensuring that artists and creators are fairly compensated for their work.
Global Reach and Expansion
Hoopr’s long-term vision is to become a global leader in the music licensing industry. With the new funding, the company plans to scale its catalog, expand its global reach, and establish itself as a premier destination for licensed music. Hoopr will also invest in developing new features and tools that cater to the evolving needs of creators and businesses.
Conclusion
Hoopr’s ₹4 crore funding is a significant milestone in the company’s growth journey. With a strong focus on expanding Hoopr Smash, enhancing user experience, and strengthening partnerships, the company is well-positioned to drive growth and establish itself as a leader in the music licensing industry. As the demand for licensed music continues to grow, Hoopr is poised to play a key role in shaping the future of the industry.
About Hoopr
Hoopr is a music licensing startup that provides high-quality, licensed music to creators and businesses. With a catalog of over 12,000 copyright-safe tracks, 300+ artists, and 30,000 creators onboard, Hoopr is a leading destination for licensed music. The company’s mission is to make music licensing easy, transparent, and accessible to all.
Source:
https://ascendants.in/business-stories/hoopr-raises-4-cr-music-licensing/
About the Author
