Music Industry Funding Surges to $1.13B in October Despite 68% YTD Drop from 2023
Core music industry funding saw a significant uptick in October 2024, reaching $1.13 billion across seven raises, though year-to-date totals remain 68.4% lower than 2023 levels.
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Key October 2024 Funding Highlights:
- Total funding: $1.13 billion (7 raises)
- Major deals: Concord ($850M), Duetti ($80M + $34M equity)
- Non-core funding: Bluesky's $15M Series A
Year-to-Date Performance:
- 2024 YTD total: $3.16 billion
- 2023 YTD total: ~$10 billion
- Year-over-year decline: 68.4%
Music IP investments continue to dominate the funding landscape, with notable 2024 raises including:
- Iconic Artists Group: $1 billion
- Duetti: $90 million venture round
- Multiple asset-backed securitizations
Despite the overall decline in industry funding, catalog investments remain robust, suggesting continued deal activity through 2025 and beyond. However, it's uncertain whether future funding levels will match recent years' highs.
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