DUETTI CLOSES $32M IN FUNDING TO DEMOCRATIZE MUSIC CATALOG SALES, MANAGEMENT, & MARKETING
03 May, 2023, 07:15 ET
The Music Financing Platform Is Bringing Investment Opportunities to the Fastest Growing Segment of the Music Industry and Giving Independent Artists The Ability To Sell Their Masters
NEW YORK, May 3, 2023 /PRNewswire/ -- Duetti, a new music financing startup founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, today announces its public launch. Duetti's unique model unlocks immediate cash flow for a wide range of artists, allowing them to sell master catalogs, individual tracks, or even parts thereof, an opportunity previously only accessible to a small group of A-list artists. This innovative model opens new investment opportunities for a previously untapped asset class.
Duetti's highly scalable data-centered approach generates exceptional long-term financial returns for the company and its partner artists by deploying a range of innovative management and optimization tactics. Backed by $32M in funding from Viola Ventures and Viola Credit, Roc Nation, Untitled and Presight Capital, Duetti is uniquely positioned to disrupt the music financing market.
Since starting its initial operations, Duetti has quickly become an essential business tool for over 60 independent artists including CVBZ, Sylvan LaCue, and Croosh, partnering on deals across over 100 tracks. To date, Duetti has facilitated music rights acquisitions that saw artists receive up to $400,000 per deal. With the funding, Duetti aims to scale the business to match the growing demand by expanding the team, partnering with new artists, and implementing new financial optimization opportunities for acquired tracks and catalogs.
"In recent years, the trend of legacy A-list musicians selling their entire catalogs has left independent artists out of the equation. Now, artists at all stages of their careers can easily capture the potential of their tracks and catalogs to help them reach the next step of their journey," says Lior Tibon, CEO of Duetti. "We are arming artists with the information they need to choose when, and how, to leverage their assets from a position of strength"
Duetti is tapping into the most vibrant and fastest growing segment of the music industry, unlocking catalog sales opportunities for over 70,000 independent artists. These artists can access a new level of financial and long-term career sustainability, allowing them to focus on their creative pursuits. Artists can quickly tap into a meaningful cash payout that they have control over – whether they're looking to buy a house, fund a tour, or record their next project.
"Duetti's cutting edge technology enables efficient analysis of an artist's potential for successfully monetizing a catalog or track - we are incredibly excited by the potential of their business model and the new, independent investment class it unlocks," says Avi Zeevi, Co-Founder of Viola Ventures and a fintech investor. "Independent artist revenue growth is outpacing the entire industry and their highly scalable model returns revenue uncorrelated to broader market and economic conditions. A win-win for investors and musicians."
On average, Duetti's deals take roughly 30 days to complete, and artists with tracks that have been on streaming platforms for at least 2 years, and have garnered at least 500,000 streams in the last 12 months can learn more about master sale opportunities on Duetti.co.
Duetti was founded by Lior Tibon, former COO of TIDAL, and Christopher Nolte, former Business Development executive at Apple Music, with the mission of getting a wide range of artists quick and easy access to catalog sales and unlocking new investment opportunities. Leveraging their experience in streaming and support from music and tech's most innovative investors including Viola Ventures and Roc Nation, Duetti's music financing platform has helped over 60 artists receive up to $400,000 for their catalog and single-track masters. The unique model provides data-driven prices for established tracks, allowing artists to sell individual tracks or even parts thereof, while Duetti then markets those tracks going forward using unique ROI-focused techniques.
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