Financial terms of the deals are not being disclosed, but if they can do this during a pandemic, then Beatport must be in decent financial shape.
Loopmasters and Beatport formed a partnership in 2019 to bring Loopmasters’ portfolio to the service. The Loopcloud suite was being integrated into Beatport as part of the 2019 deal and Beatport’s Sounds business was sold to Loopmasters, which in effect comes right back to Beatport.
Matt Pelling and Gareth Halsall, Plugin Boutique’s General Manager, have signed multi-year contracts and will continue to lead Loopmasters. Loopmasters was founded in 2003 by Pelling.
Robb McDaniels, CEO of Beatport, said in a statement, “Matt Pelling and the entire Loopmasters team are world-class people who have built amazing products for the producer community that simply belong in our ecosystem. The phenomenal growth of Plugin Boutique, the leading global seller of virtual instrument plug-ins, and the recent launch of Loopcloud, an innovative subscription service for the samples market, are a testament to the talent of their team, and we couldn’t be happier to welcome them to the Beatport family.”
Loopcloud and Plugin Boutique will be integrated into Beatport's retail properties, while also launching more marketing and promotional programs in 2021.