Spotify for Artists: just one touchpoint used by The Music Fund to assess upfront cash offers. With the coronavirus (COVID-19) pandemic continuing to wreak havoc on live touring, artists are having a particularly difficult time making ends meet. But that’s sparking more innovation from non-touring areas, with players like The Music Fund focusing on ways […]
Photo Credit: Anna Katina NetEase is investing $1.7 million in a Luxembourg-based AI music startup called AIVA. AIVA is an artificial intelligence platform that composes music across all genres. The AI’s competence ranges from jazz, pop, rock, and it can even create ambient sounds. The startup began in 2016 with Denis Shtefan, Pierre Barreau, and […]
Swedish music sampling startup Tracklib has raised $4.5 million from an array of investors, including Sony (via its Innovation Fund) and Spinnin’ Records co-founder Eelko van Kooten. Tracklib revealed its funding milestone in a press release this morning, and the announcement was shared with Digital Music News. In the press release, Tracklib execs indicated that […]
Photo Credit: Tencent Chinese company Tencent is looking to invest $200 million in Warner Music Group ahead of the company’s IPO. The report surfaced in the Wall Street Journal on Friday. Warner Music is the world’s third-largest record label and represents artists like Ed Sheeran, Bruno Mars, and Cardi B. The Warner Music IPO will […]
Photo Credit: FaZe FaZe Clan closes its Series A round of funding with $40 million in the bank after a partnership with Jimmy Iovine. The new round of funding will be used to support the expansion of FaZe, one of the world’s most-followed gaming organizations. Jimmy Iovine’s NTWRK led the round of funding. Other investors […]
Photo Credit: FaZe FaZe Clan is announcing an exclusive partnership with an e-commerce and merch company, Ntwrk. Ntwrk offers limited edition product drops from sports stars like LeBron James and singers like Billie Eilish. Ntwrk led the funding round for FaZe Clan, securing the global direct-to-consumer product rights. Jimmy Iovine is a crucial investor in […]
Photo Credit: Iam Muttoo / CC by 2.0 Sony Corp America is investing $400 million in Chinese video streaming site Bilibili. SCA is a wholly-owned subsidiary of Sony Corp. After the closure of the deal, SCA will own 4.98% of Bilibili’s total issued shares. Sony and Bilibili will further collaborate in the entertainment business in […]
7digital has sealed a critical loan from a UK-based lender, prolonging the company’s hunt for profitability. London-based digital music and radio services platform 7digital has secured a 12-month, $646,000 (£500,000) loan, and company executives are confident that the funds will help their brand to regain its professional footing and re-establish its position in the market. […]
photo: Renan Kamikoga It seems that BTS label Big Hit Entertainment will be going public much sooner than anticipated. After being valued at over $1 billion last summer (a figure that, though impressive at the time, has since been proven to be far too low), Big Hit execs indicated that they didn’t plan on taking their company […]
Matthew Lutz, Founder & CEO, Music Benefactors On November 14th, 2019, Taylor Swift wrote an open letter to the public, the music industry, and, most importantly of all, her many millions of fans. In it, Swift — who has sold over 50 million records and became a global sensation long before her 30th birthday — […]