Beatdapp is a streaming fraud detection company. It helps music labels and artists track their songs to collect royalties. Think of it as a PWC for music play count. The company has a set of machine learning and predictive algorithms to detect streaming manipulation and has over 30 patents across 7 countries to pioneer its underlying blockchain technology.
This proprietary blockchain technology authenticates, verifies, and validates media streamed in real-time. It reduces the tracking
discrepancies between Digital Service Providers (DSPs) and rights holders, increasing rights holders’ royalty revenue while limiting legal exposure, expensive audits, and lawsuits for DSPs.
SETTING THE TONE
Beatdapp emerged from three startup accelerators, rocking the music and technology industries with their innovative business model. It was founded in 2018 by Andrew Batey, Morgan Hayduk, and Pouria Assadipour. Beatdapp is an alumnus of Creative Destruction Labs (Vancouver), 500 Startups (San Francisco, CA, USA), and Project Music Portfolio (Nashville, TN, USA).
They were the winner of Inventure’s “Exploring Blockchain Breakthroughs” competition (2019) and selected as one of NACO’s top 5 most promising startups of 2019.
“We find missing royalties and identify music streaming fraud.”
BLOCK ROCKING BEATS
Apple and iPhone are popularized for kickstarting the mainstream music streaming industry, but since the early 2000s, the entertainment industry has been slow to adopt new technologies.
As a technology company, Beatdapp is committed to pushing the boundaries of innovation. The company’s unique blockchain protocol can process over 10 million transactions per second and per region.
That makes it one of the industry’s most advanced and scalable blockchains. It has also developed and owned over 30 patents across 7 countries for high throughput tracking of streaming media, including music, video games, and video.
“We are constantly looking for ways to improve and modernize the entertainment industry,” expresses founder and co-CEO, Andrew Batey. “Through our dedication to research and development, we can invent new and efficient solutions for challenges faced by the industry. Our contributions to the innovation ecosystem are focused on driving progress and promoting the adoption of cutting-edge technologies.”
Morgan Hayduk, founder and co-CEO, explains: “Innovation is at the heart of our company and shapes everything we do. We are committed to continuous learning and have a bias for action, enabling us to implement new ideas and changes quickly. As a result of this commitment to innovation, we have developed and maintained one of the largest IP portfolios by a Canadian startup. Our focus on building technology in Canada has allowed us to become an industry leader and helped us lay the foundation for Vancouver’s next anchor company.
INNOVATION STRIKES THE CHORD AT BEATDAPP
The tipping point for Beatdapp’s growth was the development of one of the fastest blockchains in the world by its engineering team, led by Co-Founder and CTO, Pouria Assadipour. This breakthrough technology enabled Beatdapp to audit streams and identify the widespread issue of fraud and stream manipulation in the entertainment industry. By solving the technical and innovation challenges first, they were able to build a successful business on top of this technology. Today, this Vancouver startup is recognized as one of the top 20 music companies globally.
For co-founders Andrew and Pouria, innovation is a critical focus area for Beatdapp and is essential for its future growth. Andrew
says: “We are constantly looking for ways to improve and innovate, whether through the development of new machine learning models, the improvement of our blockchain technology, or the optimization of our processes and scaling efforts. We believe that companies in leading positions are always at risk of being challenged – and the key to maintaining a long-term competitive edge is to stay ahead of innovation and proactively improve both product and process.”
Streaming platforms and DSPs continue to fight fraud, with a larger audience every year for their digital services. Streaming fraud is expected to cost the entertainment industry $7.5 billion annually by 2030 if left unchecked.
“We are incredibly excited about the future of our company and the potential to become the industry leader in streaming manipulation detection,” Pouria says. “As the first company to offer this kind of technology, we have the opportunity to define the market and become the industry standard, with the potential to capture over 70% of the global market share.”
The Vancouverite is proud to have established an international company in the city. “What makes this opportunity even more exciting is that we have the potential to achieve this success as a Canadian technology company operating at the global level. This is a rare and exciting opportunity, and we are committed to making the most of it and continuing to drive progress in the entertainment industry.”
