Duetti, a music financing platform, has raised $32 million in funding from investors including Roc Nation. The platform is led by former executives from Tidal and Apple Music, and aims to provide a new way for artists to finance their music projects. Duetti allows artists to raise money from fans and investors, who can then earn a share of the revenue generated by the music. The platform also offers tools for artists to manage their finances and track their earnings.
The funding round was led by New York-based investment firm Declaration Partners, and included participation from Roc Nation, the entertainment company founded by Jay-Z. Duetti plans to use the funding to expand its platform and reach more artists and investors.
The music industry has undergone significant changes in recent years, with streaming services like Spotify and Apple Music dominating the market. While these services have made it easier for artists to distribute their music, they have also made it harder for artists to earn a living from their work. Duetti aims to address this problem by providing a new way for artists to finance their projects and earn revenue from their music. Duetti’s platform is designed to be user-friendly and accessible to artists of all levels. The platform offers a range of financing options, including crowdfunding campaigns, private investments, and revenue-sharing agreements. Artists can also use the platform to manage their finances and track their earnings, making it easier for them to stay on top of their finances and make informed decisions about their careers.