Finance

US-based music tech startup IndieFlow, described as an “Operating System for independent music creators”, has raised $4 million in new funding. The round was led by State of Mind Ventures, with participation from Oryzn Capital, Or Perry (Co-Founder of StreamElements), 5 Eyes Venture, TechStars, and Moshe Gaon.

Source: Music tech startup IndieFlow raises $4m

B2B music company Songtradr has acquired Musicube, an AI metadata and music search company that helps match music to content and a brand’s target audience. Using neural networks and proprietary AI, Musicube’s software is delivered via web widgets and an API that offers metadata at scale for labels, publishers, music supervisors and more.

Source: Songtradr Acquires AI Metadata & Music Search Company Musicube

There are more than 19,000 cryptocurrencies in existence and dozens of blockchain platforms that exist. The recent collapse of so-called algorithmic stablecoin terraUSD and its associated digital token luna, which sent shockwaves through the market, has thrust a spotlight on the thousands of cryptocurrencies in existence and whether they will all survive.

Source: Crypto firms say thousands of digital currencies will collapse, compare market to early dotcom days

S&P notes that UMG “enjoys stable and predictable revenue, earnings, and cash flow thanks to a high proportion of subscription revenue through streaming,” and that the company’s “unique music library will continue to generate largely predictable and solid revenue, earnings, and cash flow”.

Source: Universal Music Group assigned Baa1 and BBB long-term credit ratings by Moody’s and S&P

Vibenomics, a retail-focused advertising company that boasts a “licensed background music library,” has raised $12.3 million in a Series B. Vibenomics bills itself as a “complete audio experience solution” for retailers, “grocery stores, pharmacies, and convenience stores” among them. Clients can customize the audio that plays in their brick-and-mortar establishments, Vibenomic’s website elaborates, including both adverts and music.

Source: Retail Audio-Advertising Company Vibenomics Raises $12.3 Million

Spotify has renamed its Artist Fundraising Pick feature to Fan Support and shared some statistics showing more than 200,000 artists are using it. 90% of the artists with a Fan Support link on their profile use the feature to collect donations from fans, while 10% use it to raise money for their chosen charity or cause. When the feature launched in 2020, Spotify intended it “as a way for listeners to directly contribute to the personal causes and needs of artists.”

Source: Spotify says 200K Artists are Using the Fan Support Feature

Calling itself “the first ever diversified investment company focused exclusively on music businesses”, MUSIC has raised $200 million in “initial” capital as it officially re-launches as a partnership between Pincus and Liontree, plus two new investors – JS Capital Management and Schusterman Family Investments.

Source: Matt Pincus’ MUSIC raises $200m, as it eyes record label, publishing, tech and Web3 investments

Royalty-free music startup Slip.stream has secured $7.5 million of Series A financing from investors including Sony Music Entertainment, Third Prime, and Lightshed Ventures. Slip.stream says it will work with Sony Music to explore new “premium music opportunities” for Sony Music artists within the Slip.stream platform.

Source: Sony Music joins $7.5m funding round for royalty-free music startup Slip.stream

Falling stock prices are coinciding with rising interest rates, inflation and heavier-than-usual debt loads at the largest conglomerates. The heightened pressure to deliver earnings and the need to pay more to service debt will inevitably force a pullback — at least in the short term — in the tidal wave of spending on content production, marketing and distribution.

Source: How the Market Crash Is Forcing Hollywood Giants to Reassess Digital Strategies

Speaking at the J.P. Morgan Global Technology, Media and Communications Conference Tuesday, Cinemark CEO Sean Gamble said he continues to see increased interest among consumers, and recovery beyond the big brand names. Moving forward, Cinemark will continue to experiment with dynamic pricing and featuring films from streaming platforms in the theaters.

Source: Cinemark Looks at Dynamic Pricing, Netflix Releases as Theaters Recover