Music Industry Funding Surges to $1.13B in October Despite Lower YTD Totals vs 2023
Core music industry funding saw a significant uptick in October 2024, reaching $1.13 billion across seven raises, though the year-to-date total remains notably lower than 2023 levels.
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Key Findings:
- October 2024: $1.13 billion (7 raises)
- October 2023: $24.03 million (excluding Anthropic's $2 billion raise)
- YTD 2024 funding is down 68.4% compared to 2023 ($3.16 billion vs. $10 billion)
Notable October 2024 Investments:
- Concord: $850 million (asset-backed securitization)
- Duetti: $80 million (securitization) + $34 million (equity)
- Bluesky: $15 million (Series A)
Music IP investments remain strong in 2024, with significant catalog-focused raises including:
- Iconic Artists Group: $1 billion
- Duetti: $90 million (venture round)
The continued flow of capital into music IP acquisitions suggests ongoing market confidence, despite the overall decrease in industry funding. This trend is expected to generate more catalog deals in 2025 and beyond, though the scale of publicly disclosed funding may not match current levels.
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