VC funding for music startups fell by 67% from over $1 billion in 2019 to $328.9m last year. That’s according to new figures published by researchers at BusinessFinancing.co.uk in a report revealing how start-up funding changed from 2019 to 2020 and the difference in spending by country and industry. The report also shows that the number of startup music companies receiving VC funding fell from 87 in 2019 to 68 last year.
Source: Music startups saw funding levels sink by 67% in 2020 (report)