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Funding

Music licensing platform Melodie raises $1 million

- April 26, 2023 2 MIN READ
Melodie founder Evan Buist
Melodie founder Evan Buist
Music licensing platform Melodie has raised $1 million at a $15 million valuation, a more than four-fold increase on the $4m valuation when the software startup previously raised $600,000 in September 2021.

The raise included follow-on investments from Code Barrel founder Nick Menere, and The Drop Festival co-owner Peter Strain. 

The funds will be used for growth in Melodie’s three core  segments – B2C, B2B, B2B2C – with a focus on the company’s growing US footprint.

Founder and managing director Evan Buist said it has been a strong 18 months of catalogue growth, broadcast placements and client acquisitions for Melodie.

“Royalties are on the move and  LTM revenues are up 250%. I’m confident we have a strong growth trajectory with offshore  revenues set to exponentially increase in the coming months and years as we expand into new  territories,” he said.

“As we mark our fifth year of operation, we are now at the stage of building a global presence and we are committed to playing a significant role in the development and  commercialisation of great Australian talent.” 

The tech-based music licensing now covers the breadth of the creator economy from film and TV sync to more recently user generated content-centric creative technology platforms via the Melodie API, which now receives more than 2 million search and download calls daily.. 

Its Australian music library includes ARIA-winning composer Helena Czajka (Bluey) and Karma County’s Brendan Gallagher, as well as Yuin Nation hip hop artist,  Nooky, and singer/songwriter  James Henry. 

Buist said that with client requests driving demand, amid a need for invest in the development of First Nations music, Melodie has committed to investing a minimum of $25,000 in developing Aboriginal and Torres Strait Islander artists for sync opportunities via its platform.

“The demand from our clients to  license authentic music from First Nations artists has never been greater,” he said.

“Our goal is to be a driving force in the development of a First Nations screen music economy: to engage and  connect Australia’s incredible Aboriginal and Torres Strait Islander artists with the myriad opportunities around music synchronisation and royalties.” 

The business also recently launched a US sync division under LA-based industry veteran Gary Helsinger, placing music in  TV shows such as Armed & Dangerous, Real Housewives, Matt Wright’s Wild Territory, Bondi Rescue, Lift the Ice, EVOLVE, Ninja Warrior and Outback Car Hunters.

Buist said Melodie platformed music is now heard around the world with more than 2 million minutes of music broadcast on free-to-air and VOD platforms in Australia alone, and there’s potential for local music to be heard widely globally. 

“We are committed to contributing to the development and implementation of Australia’s National Cultural Policy,” he said.  

“In line with that, this week we’ve launched a first of its kind “Australia” button on our music licensing platform, allowing local businesses, brands and screen producers to search music  produced only by Australian artists and composers.

“Using Australian music when making content is an easy way for local businesses to get behind our industry.”

 

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