JKBX is the startup founded by former WMG / The Orchard executive Scott Cohen in late 2022, with the aim of selling music catalogue rights.
BeatBread secures $100m fund to power its advances for artists
Music financing company BeatBread started the year by raising $34m of its own funding to build a business providing advances to musicians.
Lewis Capaldi gig will see tickets also claimed as NFTs
Hey kids! Who wants to go out to a “disruptive DeFi-Funded event” this summer?
Block talks Tidal: ‘This will be a massive economy in the future…’
Just what is former Twitter CEO Jack Dorsey’s fintech firm Block up to with Tidal?
Fintech music firm Hifi raises funding from industry execs
Music-focused financial tech company Hifi has raised a new funding round with a long list of music industry executives backing its business.
Nerve is a ‘neobank’ app focusing specifically on musicians
What’s a neobank? It’s where Keanu Reeves is paid his fees for The Matrix films of course! Oh, sorry, no it’s not. Neobanks are digital-only banks that are taking on the traditional financial institutions: Monzo, Revolut, Chime and others have led the charge, and there are now hundreds around the world.
Now there’s one for musicians specifically. It’s called Nerve, and has launched in the US first. The pitch is that artists can use it as their business banking service, including making instant payments to other Nerve users (e.g. collaborators).
It also provides automated tax statements; pulls in their streaming and social data; and has ‘private networking’ features to connect with other musicians.
“The first banking app built specifically to handle the business needs of songwriters, DJs, instrumentalists, rappers, producers, singers, bands, anyone who makes money with music,” as CEO John Waupsh put it.
It’s the latest example of a growing fintech/music crossover, which also includes companies offering advance funding to artists based on their projected future royalties.