Australian music licensing startup Melodie secures $1m bridge funding round ahead of 2025 capital raise

Australian music licensing startup Melodie secures $1m bridge funding round ahead of 2025 capital raise

Published: 17-05-2024 08:00:00 | By: Pie Kamau | hits: 1448 | Tags:

Australian music licensing startup, Melodie, has secured $1 million in fresh bridge funding round, ahead of a strategic capital raise planned for 2025. As of 2024, this puts the company's total funding at just under $3 million from investors including early Atlassian employee and Code Barrel founder Nick Menere, and Peter Strain, co-owner of The Drop Festival.

Melodie was founded in November 2017. Since then, from an investor's perspective, Melodie's core numbers have been growing exponentially. In fact, the startup has had an impressive 96-229% YoY increase in revenue over each of the past three years, which includes snowballing broadcast royalty income and recurring revenue from creators, brands, broadcasters, production companies and API users (such as the US-based GoDaddy Studio).

Evan Buist, Founder, Melodie: "As we mark our sixth year of operation, we are building closer relationships with our partners and broadening our global presence. Three of the world's four largest royalty markets are France, the UK and Germany. With more than 20 million minutes of our music now broadcast on FTA and VOD platforms in Australia alone, we are looking to replicate that success in key European markets, leveraging data to create long-term, powerful strategic alliances." 

Melodie will be exhibiting at IBC Amsterdam in September, and MIPCOM Cannes in October. Showcasing a catalogue that now sits at over 25,000 exclusive, high-quality tracks created by a roster of award-winning composers and independent artists from all around the world.

Melodie's purpose of supporting a creative community remains at its core: every time a piece of music is downloaded at Melodie, an artist gets paid. Melodie continues to create income for countless independent musicians, in a way that places value on their creativity and acknowledges the arts as an income-generating industry.

Aly Madhavji, Managing Partner, Blockchain Founders Fund: "Melodie has demonstrated exceptional growth and innovation in the music licensing industry and we are proud to support them as they continue to revolutionize the music ecosystem and create significant value for both creators and investors.''

www.melod.ie

 

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