New York, NY -Yet another key leader in music who puts serious cash in the hands of rising artists and music-rights holders has been added to the Music Entrepreneur family. —
Over the years, the conference has been bringing together business leaders and personal development professionals who know what it takes to build strong brands, connected teams and growth strategies that allow music entrepreneurs to break barriers and develop sustainable careers.
“One challenge we always seemed to face was in finding financial resources for growth,” says Rachel Karry, the co-founder of Music Entrepreneur. “If you don’t want to sign to a label, give control to an investor and don’t have a wealthy aunt willing to cut you a check for your crazy dream, there seem to be few financial options to move your career forward. We dreamt of a “music bank” our community could tap into. And then we found The Music Fund! We now have over $500,000 for creators to get to the next level.”
The Music Fund provides an automated platform that uses a data-driven smart-pricing algorithm to offer up-front cash for a portion of any artist’s royalty stream income. The founders behind the company created an investment fund that allows investors to help rising artists meet their needs in an artist-first and scalable way. The company is breaking down the artist-funding hurdle by solving multiple financing headaches associated with the delay in accessing income generated from streaming.
Rights holders stay in control of their future. Once The Music Fund makes them an offer, they decide what percentage of their music royalties they feel comfortable sharing. Based on the streaming data acquired over the last two years, The Music Fund offers up to $50,000 per deal. Rights holders receive cash simply by sharing one percent or more of their master-royalty earnings, and after two years, 100% of the rights holders’ ownership is given back and the deal is over. No one owns an artist’s hard work but them!
The Music Fund recommends that artists who apply have a minimum of 100,000 monthly streaming-service listeners, but those with as few at 10,000 are encouraged to apply and find out how much money they are eligible for. Funding is available to artists, producers, indie labels, managers and anyone else who has streaming royalties, and can be offered in as little as one day. Test the company’s payment-calculation formula via Playground and see how it works at www.TheMusic.fund
“What we really love about TMF is that they are the first company to put their money where their mouth is” says Karry. Once The Music Fund sends money to someone, they won’t ask for even $1 back regardless of how much they end up collecting over the two-year period. It’s not like a label advance with loopholes where an artist is on the hook to pay back an advance or required to create music they won’t own. If TMF doesn’t make a return on their investment, it’s their loss. TMF is also only tapping into the back catalogue, so artists can create more music for the future and own 100% of it. “This is a key component in building the future of the music industry,” says Karry. “The days when artists had little creative control and kept a mere 15% ownership of their own music are over.”
“By making a large number of small bets we simply hope we get it right on average, and the artist wouldn’t be on the hook if we get it wrong,” says John Funge, Founder and CEO of The Music Fund. “As we test out this new approach to support music entrepreneurs, we are committed to being socially responsible and creating a model that helps creators self-direct their career.”
Let’s say someone gets to put cash in their pocket, then what? Music Entrepreneur and its parent company World Artists United are putting simple solutions and industry pros at the fingertips of these creative entrepreneurs to guide them in making the most of that money. “We’ve been building partnerships around the world with the brightest business leaders and tech innovators in music, from those building next-level websites that allow artists to efficiently grow and track their fanbase, to marketing experts who can help them release their next single like a pro, and ecommerce rock stars who will help them generate sales,” says Karry.
The Music Fund isn’t stopping there, however, by partnering with Oasis Labs, a pioneering privacy paradigm that protects and keeps music data anonymous, the fund has created a privacy-first framework that will allow artists to take control of their own data (including Spotify streaming data, royalty earnings data, social media stats, and data from Facebook ads) and choose how and who to safely share it with. Artists will be able to securely upload their data to the data-sharing platform built on top of Oasis Labs’ privacy-preserving blockchain and selectively grant access to companies that provide services they are interested in. Artists will be able to see who is accessing their data and revoke access at any time.
For everyone who applies, MEcon will also be providing a complimentary ticket to the conference and hosting special workshops, courses and mastermind groups that take music marketing and business development strategy to the next level.
To apply for funding, visit themusic.fund/WAU and receive an extra $50 with your offer.
Learn more about Music Entrepreneur at www.musicentrepreneurconference.com
And, World Artists United at www.Worldartistsunited.com
Release ID: 88987118