Music sampling startup Tracklib has raised $1.7 million. The new funding for the Stockholm based company was led by the Sony Innovation Fund, WndrCo and Jörg Mohaupt, an early-stage investor who also has stakes in Discogs and Amuse. Tracklib enables instant licencing of music samples. J.Cole’s latest double-platinum single Middle…
Category archives: Startups & Funding
Sofar Sounds Adds $25M While Musicians Make $100 A Show
Sofar Sounds has announced $25 million in new funding led by Battery Ventures and Union Square Ventures with participation from existing investors Octopus Ventures and Virgin Group. That brings total investments in Sofar to $31 million. Three months ago, former Spotify and The Echo Nest executive Jim Luccesse was name…
5 Crowdfunding Myths Exposed
While many artists view crowdfunding as their ticket to music industry success, recent events like the PledgeMusic train wreck may have them second guessing the concept. That said, crowdfunding can still be effective if you know what you’re doing. Here, we look at the truth behind five commonly believed crowdfunding…
Music WorX Startup Accelerator Opens Applications
Music WorX Accelerator 2019, the start-up funding program of the German Ministry of Culture and the Media and the Hamburg Kreativ Gesellschaft, is accepting applications. Music WorX Accelerator helps music and music tech founders from all over Europe. In this accelerator program, up to four start-up teams are supported for…
Where Was the Board? Reflections On Potential Legal Issues In PledgeMusic “Administration” Bankruptcy
In the wake of PledgeMusic’s recent implosion and almost total silence in response to the issue, attorney and artist advocate Chris Castle takes a moment to share some thoughts on the failed crowdfunding platform’s bankruptcy, and where they’re headed from here. _______________________________ Guest post by Chris Castle of Artists Rights…
Soundstripe Raises $4M For Video Music Licensing
Nashville music tech startup Soundstripe has closed a $4 million Series A financing round led by Vocap Investment Partners. Soundstrip offers subscription based royalty-free music micro-licences to YouTubers, advertisers and other video creators. The startup reports triple digit year-over-year growth for the past three years, issuing 2 million “micro-licenses” since…
What The Fall Of PledgeMusic Means For Artists [Music Biz Weekly Podcast]
With the news that crowdfunding platform PledgeMusic is entering Administration, the UK equivalent of bankruptcy, music marketing veterans Michael Brandvold and Jay Gilbert of the Music Biz Weekly podcast explore what went wrong, was it means for artists and the future of music crowdfunding.
PledgeMusic Story Is Starting To Sound Like A Broken Record says Bandzoogle’s Dave Cool
The demise of PledgeMusic and the hundreds of musicians left in its wake are a sadly familiar story for music industry veteran Dave Cool of Bandzoogle. "The company takes on millions in investment to support rapid growth," writes Cool. "Flashy headlines ensue." But when things fall apart, too often it’s…
Industry Calls For Gov’t Investigation Of PledgeMusic As Crowdfunder Enters Administration
UPDATED: UK Music CEO Michael Dugher is leading a music industry campaign demanding that Small Business and Consumer Minister Kelly Tolhurst refer PledgeMusic to watchdogs at the UK’s Competition and Markets Authority. UK based PledgeMusic is entering Administration, the UK equivalent of bankruptcy. The company suspended all crowdfunding campaigns on…
Artists, Music Industry React To PledgeMusic Bankruptcy
As news that PledgeMusic was declaring the UK equivalent of bankruptcy, reaction was swift and almost universally negative. Many blamed PledgeMusic’s management and board of directors. "I honestly don’t know how they sleep at night," said veteran music marketer Jay Gilbert. "Where was the board?" asked music industry attorney Chris…