Music rights firm Audiam has announced a new $1m funding round, with a host of music industry executives chipping in. Among the investors are Tom Windish, Cliff Burnstein, Mark Geiger and Berkely Reinhold of WME, Philip Kaplan of Distrokid and artists Jason Mraz and Jimmy Buffett. The news follows a $2m round early in 2013, as the company expands its business beyond helping songwriters and publishers make more money from YouTube. Manager Tom Atencio, another of the investors, told Billboard that he thinks Audiam boss Jeff Price is onto something. “Price has identified a segment very early where there is opportunity because of all the streams that are not being fully paid out,” he said. “You will notice that all the investors are from the music industry. Private equity and venture capital don’t understand this business; its better to go with strategic investors.”
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