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Duetti Secures $114 Million in Fresh Funding to Boost Music Rights Acquisitions
Duetti secured $114 million from investors led Create Music Group-backer Flexpoint Ford.
Duetti, a fintech platform that lends money to independent artists in exchange for stakes in their back catalogs, said Tuesday it secured $114 million from investors led by Create Music Group-backer Flexpoint Ford. Duetti chief executive Tibon described the combination of equity investments and ABS financing as more efficient, and said in a statement that it will help them to “accelerate [the company’s] acquisition of music catalogs and expand its proprietary forecasting, pricing, sourcing, and marketing technology.” Through digital marketing campaigns like playlists and channels on Spotify and YouTube, along with traditional sync placements and better distribution, Duetti says it helps artists grow their audience, thereby generating more streaming revenue and a profit for their investors.
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