Duetti, a new music financing startup led by former Tidal and Apple Music execs, has closed a $32 million funding round to launch its new service.
and others have executed in recent years, but for smaller artists — or at least those who have had songs on streaming platforms for two years and racked up at least 500,000 streams within the past 12 months.“In recent years, the trend of legacy A-list musicians selling their entire catalogs has left independent artists out of the equation,” said Tibon, who serves as Duetti’s CEO, in a statement.
Duetti has been in stealth mode, and during that period it says it has partnered with over 60 artists — including Sylvan LaCue, CVBZ and Croosh — across 100 tracks, with acquisitions totaling as much as $400,000; Duetti’s deals take roughly 30 days to complete on average, according to the company. It now sees an opportunity to open up this funding model to more than 70,000 additional independent artists.
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