SoundCloud Enters Artist Development Joint Venture With Kei Henderson’s Third & Hayden
Music director Kei Henderson has entered into an artist development joint venture with SoundCloud.
According to a press release, the deal will see Henderson and SoundCloud develop “the next generation of artists” through his Atlanta-based music company Third & Hayden’s label.
Los Angeles-based singer/songwriter/multi-instrumentalist Jordan Hawkins and Atlanta rapper Key! are the first signatories of the Third & Hayden label.
SoundCloud says the new joint venture is part of its so-called “roster” business which, it adds, “focuses on providing independent artists with tailored tools and services to advance their careers.”
This high level of artist service offerings sees particularly successful independent artists “sign” directly to SoundCloud. These agreements allow the company to pay advances and invest in artists’ marketing, etc. (just like a traditional record company would).
Earlier this year, SoundCloud hit a joint venture deal with Solid Foundation, the management and creative services arm of media conglomerate QC Media Holdings, both owned and operated by music industry veterans Kevin “Coach K” Lee and Pierre “P” Thomas.
Third & Hayden, which handles label, management and publishing services, will operate out of BNDWTH studios in Atlanta.
In addition to Hawkins and Key! On the label side, the company will manage a range of acts, including Ben Reilly, Asiahn, Kenneth Whalum, Annahstasia and Nutso Thugn.
Key managed by Henderson! in early 2011, who then introduced her to 21 Savage in 2014 who, according to SoundCloud, “went from a local Atlanta champion to a global phenomenon in a short period of time.”
Henderson went on to become one of three co-founders of label management and publishing company SinceThe80s – under Motown and Capitol – where they developed several artists including Jordan Hawkins.
In February, MBW explained everything to you on SoundCloud become more of an artist service business.
In October, SoundCloud launched a dashboard for creators and a new name for its artist services platform, which is now called SoundCloud for Artists.
‘SoundCloud for Artists’ was formerly known as ‘Repost’ as SoundCloud acquired in May 2019 for around $15 million.
The artist services portion of SoundCloud’s business has accelerated since the acquisition of Repost in 2019, with Repost playing a central role in this services strategy.
For its 2020 report, SoundCloud organized his business into two sections:
(i) SoundCloud Network, which covered the company’s core business, including listener subscriptions to its streaming service as well as creator subscriptions to its distribution/services business; and
(ii) “Creative Services” which covered gross royalties from music distributed to other services by SoundCloud on behalf of artists signed up to Repost By SoundCloud and Repost Select.
(SoundCloud said that from 2021 it will organize its business slightly differently, once again into two operating divisions: (i) fans will cover ads and subscription money accrued by its consumer-facing streaming service and (ii) creators will aggregate creator-paid subscriptions to SoundCloud/Repost alongside loot from monetizing their music on other platforms.)
“We want artists to succeed as freelancers to lay the foundation for long-term careers and grow their careers with leverage and creative control.”
Kei Henderson, third and Hayden
Kei Henderson, Founder of Third & Hayden, said, “We want artists to succeed as freelancers to lay the foundation for long-term careers and grow their careers with leverage and creative control.
“What we were able to build with 21 Savage early and again with SinceThe80s is the model for how we work with our artists and I’m so grateful to have been a part of these two brands from the start.
“SoundCloud is usually one of the first points of contact for independent artists and I feel like a lot of my career has been about building a brand with artists since day zero – for that reason they’re the best partner for what we build.We are intentional about grassroots development.
“Kei has a proven track record in finding and nurturing the next generation of talent, so partnering with Third & Hayden was just the right fit.”
Jessica Rivera, Sound Cloud
Jessica Rivera, Global Vice President and General Manager of SoundCloud, said, “Kei has a proven track record in finding and nurturing the next generation of talent, so partnering with Third & Hayden was just the right fit.
“We are thrilled to expand this joint venture with such a respected industry leader and creator who shares SoundCloud’s dedication to providing solutions and empowering artists to advance their careers the way they want.”The music industry around the world
