The music industry has been slowly consolidating for years, and the pandemic may accelerate this trend. Major financial transactions around mergers, acquisitions and institutional interest estimate the industry value doubling in a decade, but how will this impact festivals, startups and artists?
Wave raises $30M funding from Scooter Braun, Maveron, Griffin Gaming Partners, Alex Rodriguez - The Number One music magazine feat. band & artist news, reviews, interviews, videos & gossip UK & worldwide.
It’s been 10 months since MBW reported on the initial beta launch of Corite – a Stockholm-based platform that allows fans to invest in an artist, and reap returns on that investment via an agreed percentage of the same act’s future streaming income.
“Historically, companies that are truly lean and mean that come out of tough patches have become successful by surviving with discipline rather than using it to thrive. Pitches need to embrace such principles and also address a realistic revenue path where possible.“
Launching and scaling a startup can be difficult on its own, but combined with the pandemic and recession can seem nearly impossible. Entrepreneurs in sectors like music tech are fighting to survive. Music tech investor David Dufresne from Panache Ventures offers his perspective to assist startups.