Duetti Raises $114M to Expand Independent Artist Funding, Including First-Ever Music Rights Securitization

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November 17, 2024 at 09:25 PM

Duetti has secured $114 million in new funding, just eight months after their $90 million round, bringing their total funding to over $235 million since launch.

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The funding consists of:

$80 million from an asset-backed securitization (ABS) structured by Barclays
$34 million in equity financing from Flexpoint Ford, Nyca Partners, and Viola Ventures

Key Investment Plans:

Purchase additional music catalogs (minimum requirements: 2+ years old, 500,000+ annual streams)
Enhance proprietary technology for forecasting, pricing, sourcing, and marketing
Expand operations to Los Angeles and Miami
Develop new marketing and sync opportunities

According to CEO Lior Tibon, this funding will enable Duetti to "offer more funding options for independent artists outside of the major label ecosystem" and better serve the rapidly growing independent music sector.

The securitization marks a significant milestone as the first instance of independent music rights being securitized with institutional Wall Street investors, following Concord's recent ABS deal.

This funding announcement comes amid a broader slowdown in catalog acquisitions compared to 2023, though several major deals have occurred, including Sony Music's $400 million Pink Floyd acquisition and Concord's $217.3 million Daddy Yankee deal.