SAO PAULO, Brazil, Oct. 03, 2023 (GLOBE NEWSWIRE) -- Magroove, a digital music distributor with a global reach, has witnessed a remarkable 150% growth over the past year. The company is now doubling down on its expansion efforts within Brazil, where it is based. With a user base spanning over 196 countries, including 1 million artists and music enthusiasts, Magroove is embarking on an exclusive service tailored to an ever-growing tier of artists. This product is primarily focused on well-established artists and comes with personalized support and a dedicated team of strategists to propel their music releases to new heights. Magroove's overarching objective is to spearhead a revolution in the music industry.
"We are actively seeking talented artists to collaborate with in shaping this exciting new chapter. Leveraging our strong global presence in music distribution, we aim to bring our expertise to the forefront in our Brazilian partnerships” explained Vítor Cunha, CEO and co-founder of Magroove. “Our vision is to establish mutually beneficial relationships with musicians who aspire to drive change in the music landscape and are weary of the outdated dynamics associated with record labels and music companies. The industry is ready for transformation, becoming more transparent and less encumbered by bureaucracy," Cunha added. Currently, the company enjoys a robust presence in European and American markets, catering to independent artists in a self-service solution.
This year, Brazil has taken center stage in Magroove's expansion strategy following an injection of R$8 million (US $1.6M) in funding from DOMO Invest. While Brazil currently represents a relatively small portion of Magroove's user base, the company is determined to increase its foothold in the national market by offering a comprehensive product that supports artists through every stage of the music release process.
Cunha added that the company’s goal is to provide a personalized experience with an account manager who will guide the artist through every phase. “This includes access to experts in various domains, such as design, public relations, content creation, paid media, artistic production, and career management, all tailored to the individual requirements of each artist."
Recently, Magroove achieved a significant milestone in its journey to become the leading music distribution platform in Brazil. The company proudly became the first Independent Brazilian ISRC Manager directly affiliated with IFPI, gaining increased autonomy and freedom to drive transformative change within the industry. "Our efforts have resonated with artists who recognize the current challenges in the industry and aspire to create a new, more inclusive landscape for all," concluded Cunha.
Contact:
Renan Duarte
renan@mangrove.com
