It was supposed to be a revolutionary new force in the world of independent artist distribution – founded by the man who sold Spinnin’ Records to Warner Music for more than $100 million in 2017.
But Netherlands-based Ledo has this week filed for bankruptcy, just two months after its public launch.
Ledo was founded by Eelko van Kooten – the former co-owner of Spinnin’ Records – alongside a fellow Dutch music industry veteran, Sarah Hildering.
In addition to its digital distribution offering (a rival to TuneCore, CD Baby et al), Ledo also hosts a free library of rights-cleared music that online influencers can use on their online channels at no cost.
In return for this use, influencers are asked to give a shout-out to the relevant artists. Ledo tells those artists on its website: “Enjoy the free promotion.”
Ledo calls this Free Music Library “a disruptive counter movement to the traditional sync model which is slow, un-transparent, and expensive”.
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DIY distribution platform Ledo, launched by Spinnin’ Records co-founder, files for bankruptcy
