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Deezer Adds $185M, Strategic Partner That Should Make Spotify and Record Labels Very Nervous
Source:
HypeBot
Earlier this month Deezer added $185 million at a valuation of more than $1 billion. New investors include a top Middle Eastern music and media company poised to give the streamer a distinct competitive advantage on the region. Dubai based media conglomerate Rotana has taken a major stake in music streamer Deezer. Controlled by Prince Al-Waleed bin Talal, the company owns what may be the Arab world's largest record label, Rotana Records. The label is part of a media empire ...
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City National Acquires Exactuals Artist PaymentHub
Source:
HypeBot
City National Bank has acquired Exactuals, the LA based creator of entertainment industry payment system PaymentHub. In 2017, City National participated in a $10 million funding round for Exactuals. Details of today's deal were not disclosed. Mike Hurst will remain CEO of Exactuals. He and the firm’s other executives are being retained with multi-year contracts. About Exactuals Exactuals' PaymentHub allows music publishers, record labels, distributors, studios, unions, guilds, payroll companies and marketplaces to provide direct deposit payments, tax document management and ...
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Audius Raises $5.5M For 'SoundCloud On The Blockchain'
Source:
HypeBot
Audius has raised a $5.5 million to use blockchain and cryptocurrency to assure that artists are paid fairly. It's a pitch made repeatedly by numerous startups in recent months, but Audius now has the capital to actually move this game-changing concept forward. Music tech startup Audius has raised a $5.5 million Series A funding round led by General Catalyst and Lightspeed, with participation from Kleiner Perkins, Pantera Capital, 122West and Ascolta Ventures. What is Audius? Audius is building a decentralized, community-owned and ...
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How To Get Into Vinyl On A Tight Budget
Source:
HypeBot
Collecting and listening to vinyl can be a delightful hobby for music enthusiasts from all walks of the industry, but the nature of the medium can often make getting into vinyl financially intimidating. Here we look at how to become a vinyl enthusiast on a budget. Guest post is written by Michael L. Moore of Devoted to Vinyl. Vinyl records are a very fun hobby—nothing quite compares to the tactile experience of touching an album cover, or placing a large ...
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WMG Sells All Spotify Stock, Pays Artists, Labels $126M
Source:
HypeBot
Warner Music Group has sold its entire holdings in Spotify stock for $504 million and will begin payments to artists and labels this month, the company announced on an earnings call Tuesday. “In February 2016, we were the first major to announce a policy to share proceeds from equity in streaming services with artists,” said WMG CEO Steve Cooper. WMG's sale of Spotify stock will result in “$126 million credited to artist accounts on their June 30 royalty statements which ...
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Soundbetter Passes $10 Million Paid To Musicians, Producers
Source:
HypeBot
SoundBetter, a marketplace for music production talent, announced that it has delivered over $10 million to artists and producers on the platform. “Most of that in the past 18 months," according to Shachar Gilad, SoundBetter Founder and CEO. SoundBetter helps artists create “release-ready" songs by connecting them with music producers, singers, songwriters sound engineers, while helping freelance music professionals make their services accessible to artists globally. Pros using the platform include Grammy award winners, hit-making songwriters, touring session players and ...
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Why Congress Should Support Startups In The Music Modernization Act
Source:
HypeBot
In this piece Chris Castle breaks down the latest inside the world of the Music Modernization Act, and why the law needs to be altered in order to restore balance between the rule makers and the rule takers, and better support startups in their bids for success. Guest post by Chris Castle of Music Technology Policy If you read the current version of the Music Modernization Act, you may find that it’s more about government mandates that entrench incumbents than a ...
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