2021 was already a big year for SoundCloud. It could get a lot bigger.
Industry insiders report to MBW that Eliah Seton, the widely recognized veteran of Warner Music Group, will join the streaming music service in a senior position.
If so, the hiring of Seton would be another big coup for SoundCloud’s new CEO Michael Weissman after introducing the service’s “fan-powered” licensing model earlier this month and appointing Troy Carter as SoundCloud board member February.
Seton’s departure from WMG was confirmed today (April 7th) by the big music company. In a press release, Seton noted that he would “be sharing my next chapter with everyone very soon.”
New York-based Seton has been with Warner Music Group for over a decade and has led the company’s global independent services division, ADA Worldwide, for the past six years.
As such, Seton has enviable relationships with the global independent community – both labels and artists – which would clearly be seen as a strong point by indie-focused SoundCloud.
SoundCloud took over the artist service company Repost Network in 2019 and today maintains a direct monetized relationship (sales and / or services) with around 100,000 indie artists worldwide.
Seton’s potential hiring begs the question of how ambitious this part of SoundCloud’s business could get, and whether the company could seek more direct relationships with independent labels in the future.
Seton now has impressive M&A experience and has played a key role in WMG’s strategic acquisitions around the world in areas such as China and Eastern Europe.
SoundCloud undoubtedly has capital to invest in M&A after SiriusXM invested $ 75 million last year.
From 2019 through this month, Eliah Seton was President of Independent Music & Creator Services for Warner Music Group worldwide, including ADA.
In 2017, he oversaw the restart of WMG’s legendary Asylum Records as a new label focused on streaming, offering uniquely flexible recording contracts to new and emerging artists.
Up until November 2020, around 12 million creators (including musicians, DJs, podcasters, etc.) could be heard on SoundCloud every month.Music business worldwide