Celebrity Adele joins backers of music royalties platform Audoo

Adele, the Grammy award-winning artist, has joined the record of music superstars investing in Audoo, a music expertise firm which helps artists to obtain fairer royalty funds.

Sky Information has learnt that the British musician and Adam Clayton, the U2 bassist, have injected cash into Audoo as a part of a £7m funding spherical.

The pair be a part of Sir Elton John, Sir Paul McCartney and ABBA’s Bjorn Ulvaeus as shareholders within the firm.

Adjustments to Audoo’s share register have been filed at Firms Home in current days.

Mr Edwards is reported to have been motivated to arrange the corporate after listening to his personal music performed at soccer stadia and in bars, with none fee for it.

Estimates recommend that artists lose out on billions of {dollars} of unaccounted royalties every year.

London-based Audoo makes use of a monitoring machine – which it calls an Audio Meter – to recognise songs performed in public venues, and which is claimed to have a 99% success price.

It has struck what it describes as industry-first partnerships with organisations together with the music licensing firm PPL/PRS to trace and report songs performed in public efficiency areas akin to cafes, hair salons, retailers and gymnasiums.

“At Audoo, we’re extremely pleased with the continued assist we’re receiving as we work to make music royalties fairer and extra clear for artists and rights-holders world wide by our pioneering expertise,” Mr Edwards informed Sky Information in an announcement on Friday.

“We’ve got efficiently reached £7m in our newest funding spherical.

“This funding marks a pivotal second for Audoo as we concentrate on our progress in North America and throughout Europe, bringing us nearer to our mission of revolutionising the worldwide royalty panorama.”

Sources stated the brand new capital can be used partly to finance Audoo’s progress within the US.

The most recent funding spherical takes the whole amount of cash raised by the corporate since its launch to greater than $30m.

Mr Edwards has spoken of his need to determine a significant presence in Europe and the US due to their standing because the world’s greatest recorded music markets.

Adele’s administration firm didn’t reply to an enquiry from Sky Information.