Duetti, a music investment firm specializing in independent music rights, announced it has secured $114 million in new funding to fund further acquisitions of its music catalog.
This includes $34 million New equity financing led by PE companies Ford Flexpointparticipation of existing investors nikka partner and Viola Ventures.
it also includes $80 million The capital was raised through the company’s first asset-backed securitization (ABS) deal, which Duetti said was “underpinned by a highly diversified catalog of music rights.”
The company said it marked “the first securitization of independent music rights with Wall Street institutional investors.”
Duetti said in a statement on Tuesday (October 29) that Barclays was the sole structuring and placement agent for ABS.
“We believe we are leading the way in guiding the capital markets to understand the tremendous long-term value of the independent music industry,” said the co-founder and CEO. Lior Tibon explain.
“The number of independent artists is growing at an unprecedented rate, and Duetti exists to ensure they have access to differentiated financing solutions.”
He added that Duetti “will now be able to tap into more diverse and efficient financing sources, allowing us to significantly expand beyond the major label ecosystem and provide more financing options for independent artists.”
The company officially launched in May 2023 and said it has raised funds $235 million So far, “more than any other music startup in the past three years.”
Following a seed funding round in summer 2022 $7 millionthe company announced $32 million A May 2023 funding round including investments from Viola Ventures and Viola Credit, Locke Nation, Untitledand prevision capital.
“We believe we are leading the way in guiding the capital markets to understand the tremendous long-term value of the independent music industry.”
Lior Tibon, duet
Earlier this year, the company announced it had raised another round of funding US$90 million. These include $15 million New equity financing led by Nyca Partners with participation from Viola Ventures, Duetti’s lead seed equity investor Cohen Circleand a $75 million credit line from Beiye Capital Partners.
Founded by Tibon – Former COO tidal – and Christopher Nolteformer business development executive apple musicthe company said it has so far worked with a number of companies 500 artist in 30 countries, including Alan Baker, MC Deluxe Edition, naves, box, sad boy prolificand Savannah Dexteroffers include $10,000 arrive US$3 million.
Through these deals, “artists have immediate access to the capital they need to support their careers,” Duty said, while the company’s optimization services help artists maximize distribution and audience impact across all platforms, driving “Significant growth in traffic and volume.” visibility. “
The company said the new cash infusion will help it accelerate catalog acquisitions and expand pricing, procurement and marketing technology to “provide artists with better data-driven transactions, as well as quick turnaround and efficient catalog management.”
Duetti also said it is rapidly expanding its marketing and optimization capabilities, which include projects such as Playlist Network, virtually 2 million tracker Spotifyproprietary Youtube channel, as well as ongoing remix releases and sync deals for film, TV and commercials.
“Duetti was a complete game-changer for me as an independent artist.”
FTO package
“Duetti has been a game-changer for me as an independent artist,” said FTO packagea Memphis rapper and Duetti artist collaborator.
“Not only has my partnership with Duetti allowed me to fund new projects, but the team has also optimized my profile on streaming services to help reach a whole new audience and lead to new opportunities – streaming of some of my tracks Media volume has increased 3x since I started working with Duetti It’s hard to find a company that feels like a true partner, but Duetti is that for me.
“We are proud to support the Duetti team, one of the fastest growing music rights companies in recent years, and their innovative approach to music financing, as they continue to support independent artists,” said McMorrismanaging director of private equity firm Flexpoint Ford $8.3 billion in assets under management.
“We see tremendous potential in their ability to deliver scalable, data-backed solutions that meet the evolving needs of today’s musicians and look forward to the company’s exciting growth plans.”
“We see huge potential [Duetti’s] Able to provide scalable, data-backed solutions that meet the ever-changing needs of today’s musicians.
McMorris, Flexpoint Ford
Asset securitization has been around for a long time in the broader investment world, but it is a relatively new phenomenon in the music world.
It is increasingly used by acquisitive music companies to accelerate their ability to acquire catalogues.
The most notable music buyers to come to ABS include harmonyAnnounced on Monday (October 28) the closing of the latest ABS transaction, worth US$850 million.
Also on Monday, we reported that the Hipgnosis Songs Fund catalog, acquired by investment giant Blackstone in July, was being used for collateral ABS transaction, abbreviation Lyra Music Assets (Delaware) LPBlackstone will raise funds US$1.474 billion in debt financing.
Earlier this year, cobalt bulge $266.5 million Supported by a publishing catalog of more than 5,000 works by 66 authors through the ABS transaction.
We’ve also written about Duetti investor Flexpoint Ford before. In December 2023, US music rights investment company GoldState Music announced a “significant investment” and a new partnership with funds managed by private equity Flexpoint Ford Asset Opportunities.
Also last year, Canada-based independent music company Nettwerk Music Group announced “a significant structural investment” and a new strategic partnership with Flexpoint Ford.global music business
