[UPDATED] PledgeMusic entered liquidation with $9.57 million in debt and assets worth just $20,000, according to court documents obtained by Hypebot. With an "estimated deficiency" of $7,405.502.48 and secured creditor Sword Row, LLC first in line, there is "little prospect" that artists and other creditors will be paid, according to the court-appointed receiver.
Five up-and-coming music tech startups will compete for the first Music Innovations Prize at the 2019 Web Summit in Lisbon, Portugal next month. This is the first time the competition is held by the Web Summit as part of the conference’s MusicNotes stage program.
YellowHeart hopes to give artists and promoters control of how and at what price their tickets are resold. Founded by serial music entrepreneur Josh Katz and The Chainsmokers manager Adam Alpert, the blockchain-based startup will launch in Q2 of next year.
Music on Facebook and Instagram launched today in The Netherlands, Norway, Denmark, Finland, Iceland, Romania, and Slovakia, bringing to 30 the total number of countries across the EMEA with music on the social platforms.
While music streaming is undeniably a global business, a lot of artists are missing out on certain international revenue opportunities owing to cultural and geographic differences, such as those that exist between the US and China. Fortunately, Far East Global thinks they have a solution to this problem.
Lyte is on track to secure $100 million in North American event ticket reservations in 2019. The platform empowers fans to return their tickets to live events and join an event's reservation list to get authentic tickets at a fair price while giving artist, promoters and venues more control of their secondary ticketing.
Entertainment and sports giant Endeavor announced late Thursday that it has postponed its IPO which had been scheduled for this Friday. Endeavor is the parent company for major music and talent agency WME.
While a lot of industry focus is put on selling or - more often - streaming music, the reality is that many performers pull in much of their revenue from live shows. Given the costs and risks commonly associated with putting on live shows, more and more artists are looking into the concept of crowdfunding their concerts. So, can it be done?
Taking aim squarely at Soundcloud, Audius has launched the public beta of its free decentralized audio streaming platform that directly connects artists and fans. DJs like deadmau5 and Zed’s Dead are already backing the platform which has attracted $5.5 million in venture capital.
In an an effort to appease shareholders and pull down a little more cash for its aritst, streaming giant Spotify recently acquired SoundBetter, a company which helps book musicians and producers while taking a commission for the service. Whether the gamble will pay off, however, remains to be seen.
As in many corners of the music industry, the data surrounding live music is a bit of a mess. But it's a mess which the startup Vibrate is hoping to fix by creating a standardized system for the entire global ecosystem of live music. Similar to IMDb, the company would utilize a mix of crowdsourcing, curation, and blockchain to pull together the necessary assets and information to populate its database.
Virginie Berger's DBTH Capital has raised an initial round of $38.55 million. The VC fund's strategy is to invest in companies in media and music rights tech including blockchain, AI and rights infrastructure.
Festicket has acquired UK ticketing and cashless POS platform Event Genius and its consumer-facing brand, Ticket Arena. A new offering, Event Genius by Festicket, will create an end-to-end platform that includes ticketing, accommodations, travel, marketing, analytics, access control, POS, cashless payment services and fan engagement tools.
Co-writing a hit song with one of your bandmates feels great at the time and is all well and good, until down the road it suddenly turns out the two of you have differing opinions on who contributed what, at which point the royalties argument is bound to turn nasty. Luckily, carefully documenting song splits from the outset can nip this kind of issue in the bud.
In this piece, a humanitarian volunteer recounts their experiences in Greece working to support victims fleeing the Syrian refugee crisis, and the powerful role music played in improving the lives of those suffering.
Live music audio startup Mixhalo has raised $10.7 million in Series A funding. The company was co-founded by Incubus guitarist Mike Einziger and his wife, violinist Ann Marie Simpson-Einziger.
TikTok parent Bytedance has acquired UK based music AI startup Jukedeck, according to multiple reports. The purchase, which could offer AI-created music to TikTok's 500 million global users even as the social video app continues contentious re-licensing with the major labels and battles performing right organizations.
When it comes to dealing with fans/customers, many artists and organizations within the industry rely on archaic and ineffective systems for keeping their teams in synch, which can lead to all kinds of inefficiencies and missed opportunities. Here we look at a more effective way in which groups in the music industry interact with potential customers.
UPDATED: As the effects of the collapse of crowdfunder PledgeMusic rippled through the music community, Iain Baker of UK rock group Jesus Jones was one of its most outspoken critics. Now, Baker has decided to do something about it with the formation of ROCCR.
Last year, the band Filter had announced that original members Richard Patrick and Brian Liesegang were reuniting to record a new album, their first since the band's 1995 debut, 'Short Bus.' The reunion has now been canceled and the band is blaming PledgeMusic.
T he largest radio conglomerate in the US, iHeartMedia, became a publicly-traded company again on Thursday, are launching its direct listing. Shares of the company, which just recently emerged from bankruptcy, are listed under the ticker “IHRT” on the NASDAQ.
Breath, body, and beats could serve as the tagline for WAVE, the new subscription-based music-based meditation app and vibrating pillow that has launched with $5.65 million in seed funding. Investors include CrossLink Capital, Lerer Hippeau Ventures, Collaborative Fund, and Ludlow Ventures.
AI-powered music mastering platform LANDR has closed a $26 million Series B financing round led by Sony Innovation Fund, microphone manufacturer Shure and state-owned financing corporation Investissement Québec and Fonds de solidarité FTQ.