Music Licensing Startup, Melodie, Banks $1M in Bridge Round Funding

SYDNEY, May 16, 2024 /PRNewswire/ -- Australian music licensing startup, Melodie (www.melod.ie), has just secured $1M in fresh funds, ahead of a strategic capital raise planned for 2025.

As of 2024, this puts the company's total funding at just under $3M from investors including early Atlassian employee and Code Barrel founder Nick Menere, and Peter Strain, co-owner of The Drop Festival.

The company's continued growth and success has been acknowledged by The CEO Magazine where Evan Buist, Melodie's Founder and Managing Director, was recently awarded 'Highly Commended Entrepreneur of the Year', ahead of Melodie taking out the prestigious 'Product of the Year' award (Audio Production, Processing and Networking) at NAB Show in Las Vegas last month, as well as Acquisition International's Global Excellence Award for 'Music Platform of the Year 2024 – APAC'.

Melodie was founded in November 2017. Since then, from an investor's perspective Melodie's core numbers have been growing exponentially. In fact, they have had an impressive 96-229% YoY increase in revenue over each of the past three years, which includes snowballing broadcast royalty income and recurring revenue from creators, brands, broadcasters, production companies and API users (such as the US-based GoDaddy Studio).

Investors are paying attention, as Melodie just announced a convertible note bridging round ahead of a larger strategic equity raise planned for 2025. With $1M already committed, there is clearly strong investor confidence in the company's continued growth.

Melodie's Founder, Evan Buist, said the bridge round would help to fuel strategic partnerships and international growth, ahead of setting up Melodie's first European office in France this year.

"As we mark our sixth year of operation, we are building closer relationships with our partners, and broadening our global presence. Three of the world's four largest royalty markets are France, the UK and Germany. With more than 20 million minutes of our music now broadcast on FTA and VOD platforms in Australia alone, we are looking to replicate that success in key European markets, leveraging data to create long-term, powerful strategic alliances," Buist claims.

Melodie will be exhibiting at IBC Amsterdam in September, and MIPCOM Cannes in October. Showcasing a catalogue that now sits at over 25,000 exclusive, high-quality tracks created by a roster of award-winning composers and independent artists from all around the world.

Melodie's purpose of supporting a creative community remains at its core: every time a piece of music is downloaded at Melodie, an artist gets paid. Melodie continues to create income for countless independent musicians, in a way that places value on their creativity and acknowledges the arts as an income-generating industry.

"Melodie has demonstrated exceptional growth and innovation in the music licensing industry and we are proud to support them as they continue to revolutionize the music ecosystem and create significant value for both creators and investors," shared Aly Madhavji, Managing Partner at Blockchain Founders Fund.

About Melodie
Melodie Music is an Australian company that provides a simple solution for content creators seeking to find and license high-quality music for their projects. With Creator, Pro and Enterprise subscription options, their exclusive and meticulously curated catalogue of original music is accessible through an online search platform equipped with AI-powered search tools. Founded by composers, musicians and sound designers with first-hand experience of the crucial role music plays in storytelling, Melodie delivers an intuitive, user-friendly music licensing platform that caters to the needs of content creators, while supporting the growth of the music creators themselves. Learn more at www.melod.ie

Melodie Contact Details:
●  Contact: Kat Tame, Marketing Manager
●  Email: [email protected]
●  Number: +61 (0)415 562 574
●  Website: https://melod.ie/

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SOURCE Melodie