Music tech firm Audoo joins Abbey Road Studios
Music tech start-up Audoo has joined Europe's first music technology incubator, Abbey Road Red.
The programme will see Audoo working closely with Abbey Road Studios, once home to The Beatles, and Universal Music Group to enhance its tech which monitors the music being played in public spaces.
Abbey Road Studios will provide support for Audoo's long term strategy, sharing key insight on their core value propositions and how they fit within the industry ecosystem.
Founded in 2015, Abbey Road Red was created to build on the studio's legacy, nurturing disruptive music and tech start-ups.
The incubator said it has assisted 13 businesses leveraging AI, immersive audio-visual projection and smart production assisting tools, with a collective valuation of $150m.
Founded last year, Audoo hopes to revolutionise the monitoring and distribution of music royalties with a device which accurately tracks the music played in commercial spaces such as bars, shops and gyms.
This enables Performance Rights Organisations (PROs) to accurately and fairly distribute royalty payments to all parties involved.
Ryan Edwards, CEO and founder of Audoo said: “It's such a privilege and honour to be recognised by an organisation as highly esteemed as Abbey Road Red."
"We envision a fruitful relationship with Abbey Road Red, and with their assistance, propel the business to new heights."
Audoo will be joining the exclusive six-month bespoke programme which will be continuously optimised to facilitate the business' requirements as it evolves.
"Audoo's solution for improving public performance royalty reporting could have a real impact benefiting both songwriters and PROs - and we are happy to help them navigate the journey," stated Isabel Garvey, Managing Director at Abbey Road Studios.
"With Abbey Road Red, we're pushing the boundaries of what is possible across the value chain through constructive innovation, and couldn't be happier to be a part of Audoo's journey".
The creator of Spice Girls was one of two senior appointments recently announced at the start-up.