Three-year-old music investment company Duetti has been on a mission to “democratize” catalog acquisitions by making them available to indie artists.
Now, the company is expanding from acquiring master rights to acquiring publishing rights and royalty streams as well – a move Duetti says was fueled by USD $200 million in new debt financing, composed of a $150 million bank facility and a $50 million side facility from Viola Credit.
That brings the company’s total raise – including equity financing, debt financing, and asset-backed securities (ABS) sales – to $435 million.
The capital has come from a roster of investors and lenders including Roc Nation, Flexpoint Ford, Nyca Partners, Viola Ventures and Viola Credit, along with Untitled, Presight Capital, and Cohen Circle.
“We believe we are leading the way in educating the capital markets on the significant long-term value of the independent music sector,” Co-Founder and CEO Lior Tibon said last fall.
“The number of independent artists is growing at an unprecedented rate, and Duetti is here to ensure they have access to differentiated financing solutions.”
“With the introduction of royalty and publishing deals, we are now able to help even more creators maximize their potential.”
Lior Tibon, Duetti
In a statement issued on Tuesday (March 4), Duetti said the latest expansion “provides catalog management and marketing opportunities for a broader set of recording artists, songwriters, producers, and other collaborators, allowing them to unlock financial value from their work through simple, transparent cash deals – ultimately making it easier for independent creators to earn money.”
Indie creators who earn at least $2,000 annually from their music rights can now access Duetti’s deal structure to sell their rights, royalty shares, or a portion of their catalog even without owning the underlying rights, Duetti says. The company offers creators upfront, lump-sum payments, and those selling will gain access to Duetti’s catalog management and marketing support teams.
Tibon said the expansion into publishing and royalty streams is in keeping with the company’s ethos of “put[ting] independent music creators first – many of whom have historically been locked out of traditional catalog deals.”
He added: “With the introduction of royalty and publishing deals, we are now able to help even more creators maximize their potential. Our mission remains simple: offer fast, transparent cash deals and help independent musicians grow their careers.”
Founded by Tibon (the former COO of music streamer Tidal) and Christopher Nolte, a former business development executive at Apple Music, Duetti says it has partnered with over 700 artists and has built up a staff of 45 in offices in New York, Los Angeles, Miami, and London. Duetti’s deals have ranged up to $7 million per transaction.
In January, the company hired Sachin Premnath, formerly of Netflix, as its General Counsel. Notably, the company said one of Premnath’s duties would be to “expand the type of music rights that Duetti can engage in.”Music ComeOn
