URGENT UPDATE: Music tech entrepreneur Ryan Edwards has made headlines with his innovative startup Audoo, which is transforming how musicians earn royalties. With a roster of celebrity investors including Elton John and members of ABBA, Edwards emphasizes the critical need for transparency in the music industry.
In an exclusive interview, Edwards, 40, based in London, revealed how his journey from drummer in an indie band to CEO of a groundbreaking tech company has reshaped his career goals over the years. He founded Audoo in 2018 after recognizing the chaotic royalty payment system musicians face, sparked by a personal experience while shopping in a department store.
Edwards describes a pivotal moment when he heard his own band’s single playing and realized the royalties were insufficient to cover a simple coffee. This led him to develop a device that accurately tracks music played in public spaces, sending data to royalty-collection organizations. The first prototype was built on his kitchen table using a Raspberry Pi, showcasing his commitment to innovation.
The urgency of his mission is underscored by the fact that many artists struggle to receive fair compensation. With Audoo, Edwards aims to change that narrative, ensuring that musicians are rightfully rewarded for their work. As he states, “The system is a mess,” and he is determined to fix it.
Edwards’ pivot from the music scene to corporate life included a role at Visa Europe, where he learned valuable lessons about adaptability and seizing opportunities. His transition to Audoo was fueled by a desire to create a lasting impact in the industry he once called home.
By utilizing word-of-mouth and strategic networking, Edwards has successfully attracted notable investors. In 2020, Björn Ulvaeus of ABBA publicly endorsed Audoo, stating, “Audoo is a solution I believe will change the music industry forever.” This endorsement has propelled the startup into the spotlight, drawing attention from the music community and beyond.
Edwards emphasizes the importance of resetting career goals every few years, highlighting the value of continual learning and adaptability. As he navigates this new chapter, he remains open to new challenges and opportunities, reflecting on his past with gratitude for its lessons.
As Audoo gains traction, the impact on the music industry could be profound. Musicians, songwriters, and producers alike are watching closely to see how this technology will redefine royalty collection and distribution.
Looking ahead, Edwards is committed to expanding Audoo’s reach and ensuring its technology benefits as many artists as possible. For those interested in unconventional career paths, he encourages sharing their stories, aiming to inspire others to embrace change.
Stay tuned for more updates on how Audoo is set to revolutionize music royalties and support artists around the globe.
