Even if you’ve never heard of splice, you’ve heard its sounds in hit songs by Dua Lipa, Doja Cat, Justin Bieber & more. In the latest episode of the StrictlyBusiness podcast, founder and CEO Steve Martocci (smart) talks to Variety’s shirleyhalperin.
, an online music marketplace where, for a monthly fee, creators can acquire the parts that make up music — loops, one-shots , different instruments and sounds both synthetic and analog — and use them fully licensed and royalty free.
When Martocci founded Splice in 2015, he’d already had plenty of experience as an entrepreneur — and a successful one at that. He was a co-founder of Blade, the helicopter ride sharing service, and of GroupMe, a group text messaging service that was acquired by Skype. For Splice, Martocci figured out what creators don’t need: an expensive recording studio with all manner of gear and instruments that charges by the hour; cost-prohibitive, platform-specific “plug-ins” that they may not end up using, opting instead for cracked versions that may not work as a piece of music progresses from one person or platform to another.
Collaboration is at the core of the Splice ethos and its track record has attracted venture capital. The company recently closed a fourth funding round led by Goldman Sachs bringing its valuation, per. But the even more impressive number is the $55 million Spice has paid out to creators, up significantly from the $40 million it announced at the end of 2020.
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