SonoSuite is a company committed to empowering independent entities and ensuring they receive their fair share of recognition and royalties despite the industry’s evolution. Pulse 2.0 interviewed SonoSuite CEO Sebastián Mañana Lenzi to learn more about the company.
Sebastián Mañana Lenzi’s Background
What is Sebastián Mañana Lenzi’s background? Lenzi said:
“I originally came from the investment and financial management industry. I had the great opportunity to learn from nearly every sector of our economy during many key moments of truth for more than 20 years. I use this experience and perspective in my current role leading SonoSuite.”
Formation Of SonoSuite
How did the idea for SonoSuite come together? Mañana shared:
“I learned SonoSuite was in a challenging situation after the pandemic and lockdown from an investor in the company back in 2022. He’s actually still an investor in the company. He introduced me to the founders. So that’s how I met these two wonderful musicians with great vision and creativity but who needed help to bring Sonosuite to the next level. So I was honored and excited to have the opportunity to lead the company and use my business knowledge and experience to help it keep growing.”
Favorite Memory
What has been your favorite memory working for the company so far? Mañana reflected:
“Every month brings a new favorite memory, but the most recent was when we welcomed Dinastía INC as a minority shareholder. Their industry expertise and our mutual interest in expanding our global reach make this partnership special. At the same time, our founders retain control and hold the majority stake in the company. Next month we’ll see what new favorite memories we create at SonoSuite.”
Core Products
What are the company’s core products and features? Mañana explained:
“We deliver music and video assets to all Digital Service Providers (DSPs – like Spotify, Youtube, Apple, Amazon, Meta, and 200 more) for our clients, independent record labels and distributors. We then collect royalties for them and ensure these are fairly paid out. We do this through our proprietary white label platform that we provide to music companies on a subscription basis. Our clients are mostly independent record labels and distributors.”
Challenges Faced
What challenges have Mañana and the team faced in building the company? Mañana acknowledged:
“We are facing new rules of the game nearly every month, as DSPs are rapidly making changes to move towards more transparent, fair revenue payment. We have to upskill ourselves constantly, changing the way we work so we can be more agile and effective with them. We also have to keep on top of current industry trends and developing issues, as these often guide the changes the DSPs make.”
Evolution Of SonoSuite’s Technology
How has the company’s technology evolved since launching? Mañana noted:
“We have added many more layers of complexity to the original platform. We are soon launching a new update based on a more modular model and way of working, so we can make improvements more quickly and easily.”
Significant Milestones
What have been some of the company’s most significant milestones? Mañana cited:
“We’re very proud of the fact that as of the end of 2023, our clients have generated over 5 billion streams. SonoSuite was founded by musicians in Barcelona in 2017, and we plan to keep growing our client base globally while still providing the best service for our customers.”
Revenue
When asking Mañana about the company’s revenue details, he revealed:
“We anticipate growing by more than 25% in 2024, and we have built our efforts and operations around that figure.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Mañana assessed:
“Our market, the independent streaming segment, is worth about $7 billion, with strong growth every year. We target a relevant piece of it. We are still very small, below USD $30 million. We are a global player with great ambition.”
Differentiation From The Competition
What differentiates the company from its competition? Mañana affirmed:
“In this niche, service is our key to success. There are several other providers out there who support music labels, but we know very well that no one else can give the level of personalized customer support and deep industry knowledge that we can. We are truly committed to doing everything we can to help our customers succeed.”
Future Company Goals
What are some of the company’s future goals? Mañana concluded:
“We want to continue to be known as a best-in-class partner for both our clients and the DSPs and to stay agile and able to adapt to the industry’s latest changes. Ultimately, if we can help our labels thrive in this ever-changing landscape, we have done our job.”
