SongSplits by Song Solutions, Inc.

The DNA of the Music Business

SongSplits by Song Solutions, Inc.

The DNA of the Music Business

Sullivans Island, SC
Consumer Internet
SongSplits is a free and secure online platform on track to become the universal standard for music rights management. Through this digital platform, music collaborators can easily input and cross-verify their song credits and royalty agreements. Serving 250,000 users and counting, SongSplits is revolutionizing the music business by putting power—and money—back in the hands of the artists.

$13,833

raised
32
Investors
$15M
Valuation
$15.00
Price per Share
$240.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

$13,833

raised
32
Investors
$15M
Valuation
$15.00
Price per Share
$240.00
Min. Investment
Common
Shares Offered
Equity
Offering Type
$1.07M
Offering Max
Reg CF
Offering

Rewards

Get rewarded for investing more into SongSplits by Song Solutions, Inc.:

$240+
Investment
StartEngine Owner’s Bonus
This offering is eligible for the StartEngine Owner’s 10% Bonus program. For details on this program, please see the Offering Summary section below.
$2,500+
Investment
Tier 1
SongSplits Shirt.
$5,000+
Investment
Tier 2
SongSplits Shirt and trucker hat.
$10,000+
Investment
Tier 3
5% bonus shares.
$25,000+
Investment
Tier 4
10% bonus shares
$50,000+
Investment
Tier 5
10% bonus shares + Invitation to quarterly CEO Roundtable.

Reasons to Invest

SongSplits has devised a simple, straightforward solution that will change the way that artists are recognized and compensated for their work. Supporting the hardworking songwriters that form the heart of the industry will ensure a rich and diverse future of music.
The SongSplits technology is built to scale, having already attracted tens of thousands of users. Investment dollars go towards marketing and growth of a proven product.
Billions of dollars in music royalties still sit with the big corporations; without proper documentation, this money will never reach the songwriters themselves.

OVERVIEW


The DNA of the music business

A song split confirms which songwriters receive credit on a song and each person’s corresponding percentage of the royalties. Song splits are the DNA of the music business—without this information, songwriters can’t get paid their due. However, the current system for tracking and storing these critical details is splintered and out of date, leaving billions of dollars in limbo. We created SongSplits to bridge this huge gap, serving as an essential tool for members of the music industry. 



SongSplits is an online platform that enables songwriters to cross-verify songwriting credits with all relevant collaborators before storing the information in a centralized digital database. SongSplits’ universal system works to eliminate the types of hurdles created by verbal agreements and paper split sheets. No conflicts and no delays means that when the largest shoe company in the world seeks out your song as the soundtrack for its latest commercial, the process will be seamless and conflict-free.


The problem


Hundreds of millions and by some estimates even billions sitting in a “black box”

For years, songwriters have defaulted to jotting down song credit and collaborator information on paper split sheets. Missing names and numbers or questions about accuracy can lead to delays, obstacles, and outright losses in royalty payouts. By some industry estimates, as much as 25% of all mechanical royalties go unpaid due to identification issues because the collection agencies do not know who to pay.


(Source)


The result? Billions of music industry dollars are held in dispute or aren’t properly licensed for use. This money will sit in this purgatorial state until the proper papers and percentages are (hopefully) chased down. Big industry corporations that collect royalties have little to no incentive to address the issue—after all, the lack of proper data allows them to benefit from interest earned on these billions of “black box” dollars every year. $424 million of unallocated royalties was dispersed by the Digital Service Providers to the Mechanical Licensing Collective alone.

These are earned dollars in the United States that don’t have correct songwriter data and can’t be paid to the actual writers as a result.


(Source)


Split data affects more than royalty percentages

Beyond the question of income, lacking accurate split data prevents songwriters from getting new publishing deals or getting out of existing ones, licensing music to a third party (e.g. TV, film, video games), properly copyrighting their work, and repaying the advance of a publishing deal. While the song split is such an integral part of the music business, the lack of a user-friendly, standardized process for verification and documentation has resulted for years and years in songwriters failing to be properly compensated.  



Industry Overview:


(Source 1 and Source 2)




THE SOLUTION


A digital platform for songwriters and teams

With SongSplits, we cut out the middlemen and control the split process from start to finish. The SongSplits platform provides songwriters with the tools to easily create, organize, and cross-verify their royalty percentages and agreements, serving as a standard ledger that can subsequently be accessed by the songwriter's managers and attorneys as well. By digitizing and centralizing what was formerly stored on sheets of paper, we’re making it easy for music publishers, distribution companies, and performing rights societies to locate the information they need.




SongSplits operates on multiple revenue streams. Serving as the industry standard for third-party licensors, we’ll charge an administrative transaction fee for ensuring that earned royalties successfully reach the right songwriters. Additionally, songwriters have the option to have SongSplits handle their royalty collections for a fee that’s 50% lower than the current industry standard. We’ll offer subscription services to our “Who’s Looking List,” which allows songwriters to see which of the major label artists are looking for new songs, with direct submission for record placement. Lastly, we’ll white label our technology to large, independent music publishers, distribution companies, performance and mechanical rights collectives to improve their own data management.



THE MARKET


The music industry is booming

The music industry was worth $62B in 2017 and is estimated to reach $131B in revenue by 2030 (source). The music publishing business alone was estimated to be worth $11.7B in 2020 (source). Whether a song is performed at a live concert, placed on an album, or streamed on a personal device, a royalty is earned by the songwriter every time the song is played.


(Source)


Yet despite these massive numbers, it’s been estimated that 70% of recorded music is independently uploaded and released without proper licensing protocols (source). All of this presents an enormous, pressing opportunity to provide much-needed infrastructure within a sprawling, decentralized industry. While a handful of other companies have attempted to jump in to address these gaps, none have focused on the song split. We’re here to solve the issue from its core, and we’re well on our way to becoming the industry standard. 



OUR TRACTION


A quarter-million users and counting

SongSplits already has more than 200,000 users on our platform. Built with best-of-class technology, we’ve scaled quickly and with very little marketing budget. Our platform is poised to grow exponentially as we reach more users and expand our partnerships with distributors, streaming companies, and other collection agencies.




We’ve already secured a partnership with the Mechanical Licensing Collective to address their quandary of $424M in unmatched music royalties (source). We’re happy to have received very positive press coverage from the music industry, praising our work to protect the rights of songwriters.



WHY INVEST


A cornerstone of tomorrow’s music industry

In two years, our plan is for SongSplits to be known as the industry standard. The majority of songwriters will manage their splits through our platform, and major companies will only accept split agreements after they’re verified through the database. We’re aiming to increase our user base by 500,000 in the next 18 months, which will further drive user growth and improve the overall user experience. 



We’ll also be investing attention in education; you can expect to see us in several of the major university music programs as well as the Master Sessions at the Songwriters Hall of Fame. In creating SongSplits, our team of industry veterans invested a great deal of time talking to the music community about what they wanted. Now, every single day, we get shout-outs from songwriters telling us how our service has changed their lives. We’re ready to continue changing lives for songwriters and creators everywhere and building a better music industry for everyone—and we’d love for you to join us.



*This testimonial may not be representative of the experience of other customers and is not a guarantee of future performance or success. 


In the Press

Music Industry Quarterly

MEET TODD WRIGHT THE CEO PROTECTING THE RIGHTS OF SONGWRITERS

Digital Music News / Hypebot

The Evolution Of Documenting Song Credits: Split Sheets Go Digital

Offering Summary


Company

:

Song Solutions, Inc.

Corporate Address

:

2061 Middle Street Suite 215, Sullivans Island, SC 29482

Offering Minimum

:

$9,990.00

Offering Maximum

:

$1,069,995.00

Minimum Investment Amount

(per investor)

:

$240.00











Terms


Offering Type

:

Equity

Security Name

:

Common Stock

Minimum Number of Shares Offered

:

666

Maximum Number of Shares Offered

:

71,333

Price per Share

:

$15.00

Pre-Money Valuation

:

$15,000,000.00











*Maximum number of shares offered subject to adjustment for bonus shares. See bonus info below.

Voting Rights of Securities Sold in this Offering

Voting Proxy. Each Subscriber shall appoint the Chief Executive Officer of the Company (the “CEO”), or his or her successor, as the Subscriber’s true and lawful proxy and attorney, with the power to act alone and with full power of substitution, to, consistent with this instrument and on behalf of the Subscriber, (i) vote all Securities, (ii) give and receive notices and communications, (iii) execute any instrument or document that the CEO determines is necessary or appropriate in the exercise of its authority under this instrument, and (iv) take all actions necessary or appropriate in the judgment of the CEO for the accomplishment of the foregoing. The proxy and power granted by the Subscriber pursuant to this Section are coupled with an interest. Such proxy and power will be irrevocable. The proxy and power, so long as the Subscriber is an individual, will survive the death, incompetency and disability of the Subscriber and, so long as the Subscriber is an entity, will survive the merger or reorganization of the Subscriber or any other entity holding the Securities. However, the Proxy will terminate upon the closing of a firm-commitment underwritten public offering pursuant to an effective registration statement under the Securities Act of 1933 covering the offer and sale of Common Stock or the effectiveness of a registration statement under the Securities Exchange Act of 1934 covering the Common Stock.

Investment Incentives*

Time-Based

Friends and Family Early Birds

Invest within the first 72 hours and receive an additional 15% bonus shares.

Super Early Bird Bonus

Invest within the first week and receive an additional 10% bonus shares.

Early Bird Bonus

Invest within the first two weeks and receive an additional 5% bonus shares.

Amount-Based

Tier 1 | $2,500+

SongSplits shirt

Tier 2| $5,000+

SongSplits shirt and trucker hat

Tier 3| $10,000+

5% bonus shares

Tier 4| $25,000+

10% bonus shares

Tier 5 | $50,000+

10% bonus shares + invitation to quarterly CEO Roundtable

*All perks occur when the offering is completed.

The 10% StartEngine Owners' Bonus

Song Solutions, Inc. will offer 10% additional bonus shares for all investments that are committed by investors that are eligible for the StartEngine Crowdfunding Inc. OWNer's bonus.

This means eligible StartEngine shareholders will receive a 10% bonus for any shares they purchase in this offering. For example, if you buy 100 shares of Common Stock at $15 / share, you will receive 110 shares of Common Stock, meaning you'll own 110 shares for $1,500. Fractional shares will not be distributed and share bonuses will be determined by rounding down to the nearest whole share.

This 10% Bonus is only valid during the investors' eligibility period. Investors eligible for this bonus will also have priority if they are on a waitlist to invest and the company surpasses its maximum funding goal. They will have the first opportunity to invest should room in the offering become available if prior investments are cancelled or fail.

Investors will only receive a single bonus, which will be the highest bonus rate they are eligible for.

Irregular Use of Proceeds

The Company might incur Irregular Use of Proceeds that may include but are not limited to the following over $10,000: Salary payments made to one’s self, a friend or relative. Vendor payments.

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Most recent fiscal year-end:
Prior fiscal year-end:
Total Assets
$26,000.00 USD
$64,030.00 USD
Cash And Cash Equivalents
$0.00 USD
$38,030.00 USD
Accounts Receivable
$25,000.00 USD
$25,000.00 USD
Short Term Debt
$9,141.00 USD
$0.00 USD
Long Term Debt
$0.00 USD
$0.00 USD
Revenues And Sales
$0.00 USD
$0.00 USD
Costs Of Goods Sold
$0.00 USD
$0.00 USD
Taxes Paid
$0.00 USD
$0.00 USD
Net Income
-$47,988.00 USD
-$297,591.00 USD

Risks

A crowdfunding investment involves risk. You should not invest any funds in this offering unless you can afford to lose your entire investment. In making an investment decision, investors must rely on their own examination of the issuer and the terms of the offering, including the merits and risks involved. These securities have not been recommended or approved by any federal or state securities commission or regulatory authority. Furthermore, these authorities have not passed upon the accuracy or adequacy of this document. The U.S. Securities and Exchange Commission does not pass upon the merits of any securities offered or the terms of the offering, nor does it pass upon the accuracy or completeness of any offering document or literature. These securities are offered under an exemption from registration; however, the U.S. Securities and Exchange Commission has not made an independent determination that these securities are exempt from registration.


Updates

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