15 August 2011
BRITISH MUSIC METADATA AND DISCOVERY PLATFORM COMPANY, DECIBEL, RECEIVES ANOTHER UNDISCLOSED SUM FROM INVESTORS
Second round of investment, for the further development of client services, metadata APIs and music discovery applications.
- A new player in the media industries, using technology originally developed for criminal intelligence-gathering and re-purposed for the digital music industry
- Currently servicing the record industry, Decibel now developing their solutions for digital music service providers
- A database of over 12 million tracks 300,000 artists, 100,000 venues, equaling almost 1 billion pieces of data on music
LONDON, August 15 2011 – Decibel Music Systems LTD (Decibel), a British technology company that uses artificial intelligence systems to create music metadata platforms for companies in the media industries, announces today that they have secured an undisclosed sum of investment from investors with financial and media industry backgrounds
“Since we completed the development of our core AI technology for the gathering, normalizing and enhancing of metadata, we have had a number of significant companies in the music and associated media industries, hardware companies, streaming companies, express an interest in using our enhanced data and technologies to power their own services” said CEO Gregory Kris.
With almost 1 billion pieces of data on music, participants, performances, rights holders, publishers, venues, dates, social links, product information; Decibel’s inter-linked semantic data services are already in use by the record industry with over $500,000 of new business in the last 6 months alone.
“This extra round of investment received will go a long way to ensuring that our metadata products are able to reach as many services and business as possible through the provision of simple, sophisticated metadata APIs within the next 6 months.”
The investment received will also be used to develop Decibel’s budding international business. Says Kris;
“We have established a beach head in the USA with a small number of significant clients, and a new team of data acquisition experts and sales people. This investment will allow us to ensure that we are able to service these global clients locally. Our data is already multi-lingual, so we intend to land our first Korean and Japanese clients over the next 12 months.”
Of the investment, Decibel Founder and President, Evan Stein says;
“Our mission as a business is straightforward. We want to power every new and existing digital music service with high-quality, accurate metadata. Our goal is to increase customer engagement, support a new generation of products, and boost revenues across the global music industry. This investment gives us the platform to achieve our goals.”