The legend goes that Lil Nas X spent $30 on a beat for “Old Town Road” and suddenly, the American rapper became an overnight sensation. This historical event not only normalized a new way for artists to create music, but also audio producers and engineers to offer their services.
For several years, platforms like BeatStars and Airbit have been the dominating beat marketplaces where producers can list their beats, and artists can pick the one that suit their styles to record over and eventually release. Cardi B, Dua Lipa and 1SRAEL are just a selection of mainstream artists to take up this trend in their recent albums.
Now newcomer, Gemtracks is slowly paving its way to the top. What’s unique about Gemtracks’ business model is not only does it streamlines the process of creating music, but marketing as well. Artists are able to purchase beats, hire freelancers, book recording studios, and get their songs onto Spotify playlists without having to leave the platform.
In fact, based on traffic alone, Gemtracks has already surpassed Airbit by more than three times.
Another model Gemtracks has adapted is that once a beat or service has been delivered to an artist, the artist gets the full copyright and ownership. Unlike other platforms where producers sell their beats for a few dollars and then earn through royalties, artists from Gemtracks can keep all royalties and the sellers get to charge higher one-off prices. For many people, this is seen as win-win on both sides. In a recent report by Business Insider, this has allowed music producers from developing countries to successful work with artists in the United States and earn a decent living.
DJ Gosh Fire, a music producer from Cyprus is an example of a seller finding success on Gemtracks. Within less than 6 months of joining, he has worked with more than 30 artists. Other top producers on Gemtracks include I.Y.F.F.E., Beowulf, and Lucas Gold.
To become a seller on Gemtracks is much more difficult than other platforms. Sellers must verify their identities and go through tough screening processes to ensure their work and skills are of quality. In some cases, interviews are conducted before a final decision is made.
Gemtracks was founded by DJ Jesse Neo and Milana Leybovich in 2019, despite the website being registered in 2017. Both founders have been in the music industry years prior, with Jesse working as a songwriter while completing his PhD in Computer Science, and Milana lending her voice to several Disney movies and even being featured on Hot Rod’s “Dance With Me” song.
By 2021, Jesse became the sole owner with Milana’s resignation unknown.
According to Jesse’s personal Twitter, venture capitalists like Headline, Ranventures and The Eighth have been pushing to invest in Gemtracks, with rumours of a pre-seed funding of $5 million.
Sean Wilson, an international business advisor with more than 20 years’ experience in technology leadership and digital innovation, and CEO of BetterHR, stated: “Gemtracks’ business model is a unique formula for both the company and its freelancers. It has proven to enable quick scalable growth with strong profitability, which is rare for the current state of the economy.”
“Gemtracks will eventually be more than just a platform for creating music, but other medias that comes with it,” said Jesse. “These include booking photo and music video shoots, working with cinematographers, set designers and other creatives to really help Gemtracks artists create their identities and brands.”
Members of the editorial and news staff of the Daily Caller were not involved in the creation of this content.