Duetti, a music platform democratizing catalog monetization for independent artists, announced it has raised $114 million in new funding. And this includes $34 million in equity financing led by Flexpoint Ford, along with participation from existing investors Nyca Partners and Viola Ventures. Duetti had completed its inaugural $80 million privately rated asset-backed securitization (ABS) transaction, backed by a highly diversified music rights catalog.
The company aims to use the funding to accelerate its acquisition of music catalogs and expand its proprietary forecasting, pricing, sourcing, and marketing technology, offering artists even better data-driven deals with fast turnarounds and impactful catalog management. And Duetti is rapidly developing marketing and optimization capabilities, with programs like a playlist network of close to two million followers on Spotify, proprietary channels on YouTube, and ongoing remix launches and sync placements in TV shows, films and advertisements.
These initiatives increase the visibility of Duetti’s artist partners and grow their audience across all major digital platforms.
Flexpoint’s funds were made through Flexpoint’s Asset Opportunity Fund, which utilizes the firm’s expertise in financial services and private equity to invest in opportunistic asset-driven investments across financial services subsectors and assets, including music.
Duetti partnered with over 500 artists to date across genres, based in over 30 countries, including MC Delux, SadBoyProlific, and Savannah Dexter. Artists have been able to secure immediate access to the funds needed to support their careers by selling master catalogs, individual tracks, or portions in deals typically ranging from $10,000 to $3 million per artist. Along with immediate access to capital, the company’s optimization services have helped artists maximize distribution and audience impact across all platforms, driving significant increases in streams and visibility.
Barclays acted as the sole structuring and placement agent for the ABS.
KEY QUOTES:
“We believe we are leading the way in educating the capital markets on the significant long-term value of the independent music sector. The number of independent artists is growing at an unprecedented rate, and Duetti is here to ensure they have access to differentiated financing solutions. Duetti will now be able to utilize more diverse and efficient financing sources, enabling us to significantly expand and offer more funding options for independent artists, outside of the major label ecosystem.”
– Lior Tibon, CEO and Co-Founder of Duetti
“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 empower independent artists. We see tremendous potential in their ability to provide scalable, data-backed solutions that address the evolving needs of musicians today and are looking forward to the company’s exciting growth plans.”
– Mike Morris, Managing Director at Flexpoint Ford
“Duetti has completely changed the game for me as an independent artist. Not only has my partnership with Duetti allowed me to fund new projects, but the team is also optimizing my profile across streaming services to help reach a brand new audience and bring new opportunities to the table – some of my tracks saw 3x increase in streams since I partnered with Duetti. It’s hard to find a company that feels like a true partner, but Duetti has been just that for me.”
– FTO Sett, Memphis-based rapper and Duetti Artist Partner
