Music Industry Funding Surges in October, but 2024 YTD Still Trails 2023 Levels by 68%
Music industry funding saw a notable uptick in October 2024, with seven raises totaling $1.13 billion. However, year-to-date figures remain significantly lower than 2023 levels.
Core music industry developments in October 2024:
- 6 core industry raises totaling approximately $1.115 billion
- Major contributions from Concord ($850M) and Duetti ($114M combined equity and securitization)
- One non-core raise: Bluesky's $15M Series A
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Key insights:
- YTD funding through October 2024: $3.16 billion
- 68.4% decrease from January-October 2023 ($10 billion)
- Music IP investments remain strong despite overall funding decline
- Catalog acquisitions continue to attract significant capital
Notable 2024 raises:
- Iconic Artists Group: $1 billion
- Concord: $850 million
- Duetti: Multiple rounds totaling $204 million
The sustained interest in music IP investments suggests continued deal activity in 2025, though overall industry funding levels may not match recent years' highs.
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