Musician Turns Entrepreneur: Ryan Edwards Revolutionizes Royalties

Ryan Edwards has transitioned from being an indie band drummer to the founder of a music technology startup, Audoo, which aims to transform how musicians receive royalties. With notable investors such as Elton John and Björn Ulvaeus of ABBA, Edwards is reshaping the landscape for artists in the music industry.

Edwards, who is based in London, has embraced diverse roles throughout his career. After touring with his band, The Lines, and achieving recognition in the UK’s Top 10 Independent Singles Chart, he left the music scene in 2008 to explore new career avenues. His journey has taken him through retail, fintech, and ultimately to the creation of Audoo in 2018.

From Band Life to Business Leadership

Reflecting on his early career, Edwards recalls the excitement of touring and recording but acknowledges the challenges of sustaining that lifestyle. He transitioned to retail, where he worked as an assistant store manager and eventually climbed the ranks over four years. This experience, he notes, provided valuable skills in sales and inventory management, akin to his time in the band selling merchandise after performances.

In 2013, Edwards joined Visa Europe as a senior manager, marking his entry into the corporate world. Despite initial reservations about this environment, he found opportunities to innovate within the company. After three years, he pivoted again, moving to a fintech startup, inspired by a compelling business idea and the potential for growth.

Launching Audoo: A Solution for Musicians

The idea for Audoo emerged unexpectedly. While shopping in a department store in London, Edwards heard one of his old band’s songs playing and joked about the minimal royalties he would receive. This inspired him to investigate the opaque royalty process musicians face. He realised that the system was inadequate and inefficient, which prompted him to create a solution.

Utilising technology similar to that of Amazon‘s Alexa and Shazam, Edwards developed the Audoo Audio Meter, a device that accurately tracks music played in commercial venues and ensures artists receive fair compensation. He began building the prototype on his kitchen table, which evolved into a robust platform for tracking music royalties.

Incorporating Audoo in August 2018 was a significant milestone for Edwards, who had personal responsibilities, including a new puppy and a pregnant wife, pushing him to ensure the startup’s success. Through networking on LinkedIn, he connected with industry leaders, confirming the demand for a more transparent royalty system.

The company’s reputation grew, leading to investments from notable figures like Björn Ulvaeus, who praised Audoo’s potential to revolutionise the music industry. Edwards remains committed to his mission, continuously adapting and welcoming new challenges along the way.

Edwards’ career reflects a willingness to embrace change and take calculated risks. He believes in resetting his goals every few years, focusing on continuous learning and adaptability rather than adhering to a strict career trajectory. His journey exemplifies how diverse experiences can culminate in impactful innovations within an industry.

As Audoo continues to grow, Ryan Edwards stands at the forefront of a significant shift in how musicians are compensated, proving that a non-linear career path can lead to successful and meaningful ventures.