Trqk™ Announces Public Beta of TrqkIQ™ Platform
Trqk™ Announces Public Beta of TrqkIQ™ Platform to Detect Unpaid Royalties & Provide Analytics to Maximize Licensing Deals
December 2, 2020 (Austin, TX) – Trqk™, a Music Royalty Intelligence platform dedicated to helping creators and publishers work more efficiently while growing their income with strategic royalty insights, has announced the launch of their first product in public beta — TrqkIQ™. It is the culmination of a year of development with several partners, including a deep bench of industry insiders.
Powered by deep data science and business intelligence, TrqkIQ™ is a visualization, detection, and insight platform for performance royalties that brings key analytics to life, allowing rights-holders to instantaneously see how their royalties are performing and flowing. TrqkIQ™ utilizes sophisticated music information retrieval (MIR) technology to help creators collect unpaid royalties by detecting performances that might have been missed during the complex and fragile royalty claim and payment process, which is painful and manual today. Using the cross-industry TrqkIQ Insights Index™ database, the platform also quickly points out trends and opportunities to maximize licensing income and guide deal-making.
TrqkIQ™ holds strong benefits for all sides of the market, including publishers, catalogs, and PROs looking to open new revenue streams or analyze potential catalog acquisitions or publishing deals; music creators, publishers, and catalogs who need to discover unpaid royalties and determine how to attain more lucrative licensing deals; and music users, who need to find the best music licensing strategy for their brands and ensure they are staying legal by discovering and paying all the royalties they owe.
The public beta launch roll-out will begin in mid-December with TrqkIQ – Indie Edition™, which is tailored to the needs of independent songwriters and producers, with trial requests open now at www.trqk.io. Those who are interested can also upload a royalty statement and get a free visualization with no trial account required. A Publisher Edition focused on music publishers and rights-holders for larger catalogs is coming soon. TrqkIQ™ will have multiple licensing tiers, which are based upon total royalties received per quarter, ranging from occasional composers all the way to large publishers.
“I’ve been writing, producing, and licensing songs for ad campaigns for decades. When the transition from broadcast to digital and the rise of royalty-free catalogs started cutting into my sync fees, I began administering my own performance royalties and looking for ways to make up the difference,” said David Della Santa, Co-Founder and Chief Creative Officer of Trqk™. “I learned that there is incredible value embedded in royalty data, everything from what kind of tracks tend to earn the most and for how long, what sources pay the best, and where tracks tend to be played. However, you’d need a Ph.D. in data science and a degree in coding to suss out the answers and take action. That’s why we created Trqk™: to simplify the process so creatives can maximize their performance royalty revenue by learning where and how to spend their time.”
“Trqk™ is addressing a real pain point for us by providing a big picture view of our royalties and highlighting where we need to focus our attention to recover missing claims,” said Jean Chadwick, Senior Vice President of Operations at Spirit Production Music, which was given early access to TrqkIQ™. “Their tech-based approach automates much of what we have to do manually today, and will help us serve our clients better, ultimately insuring we are collecting all royalty revenues available.”
“Trqk™’s unified platform, combining visual royalty statement analysis with digital detection, is a brilliant idea,” said Joe Saba, Co-Founder of VideoHelper and a composer/producer who has created several network TV theme songs, as well as music for the Olympics and several Super Bowl commercials. “They are addressing one of the music industry’s biggest challenges, which is to gain insight across our various data streams, which are siloed in different formats and require significant manual labor to manage. They are bringing the power of big data to music businesses of all sizes.”
“TrqkIQ™ is like a report card for performance royalties,” said Brian Yessian, Owner, Partner, and CCO at Yessian Music. His company’s clients have included Ford, RAM, Toyota, Disney, Budweiser, Macy’s, United Airlines, Walmart, Coca Cola, IKEA, Mont Blanc, L’Oreal, McDonald’s, Volvo, and Porsche. “I’ve always wondered if we’re getting everything we should be, and would subscribe to a tool that could identify any missing funds we can collect on. This is a win for our industry.”
For more information on Trqk™, or to sign up to be considered for beta access to TrqkIQ™, visit www.trqk.io.
About Trqk™
Trqk™ is a Music Royalty Intelligence platform dedicated to helping creators and publishers work more efficiently while growing their income with strategic royalty insights. The platform combines data science, business intelligence, and music information retrieval (MIR) techniques to provide a big picture view of historical royalties, allowing rights-holders to identify and reclaim missed royalties, understand peer and industry-wide royalty trends to target more lucrative business, and maximize licensing negotiations.
Founded in 2019, Trqk™ is the brainchild of co-founders David Della Santa (Chief Creative Officer) — a veteran music producer, music supervisor, and composer with over two decades in the music industry and over 500 song placements — and Sathvik Krishnamurthy (Executive Chairman), a Silicon Valley veteran with several successful exits, including two IPOs and an acquisition by HP. Together, they bring a deep understanding of the music industry and how to build a successful business from the ground up, and are complemented by a team of expert executives and advisors who have strong experience in music tech, data science, and performance rights.
For more information, visit www.trqk.io.
Media Contacts
Laurie Jakobsen, Jaybird Communications — laurie@jaybirdcom.com, 646.484.6764