Published on July 1st, 2020 | by Marilyn Reles0
Music Disruptor ‘Artist Republik’ Raises $500K to Grow Industry’s First Talent-Controlled Business Platform
Artist Republik’s debut of a new indie music business online marketplace has net $540K investment capital to develop its simple but pioneering tech-driven premise: a new commerce platform that returns career control and expenses back to the artist.
In an industry first, Artist Republik widens the opportunity funnel by enabling self-represented music talent and industry stakeholders to sidestep controlling agents and gatekeepers. Top investors David Beirne (a founding general partner of Benchmark Capital, known for lead stakes in eBay, Twitter, Instagram, OpenTable and Juniper Networks) and respected pro-sports and Hollywood wealth advisor Lameck Humble Lukanga, are betting that Artist Republik’s proprietary social networking and career management platform is the new gateway that will democratize independent music booking, global collaborations and revenue opportunities. They have been joined by Bob Brown, of Capital Markets of York IE (former president of Fidelity’s Bond Division and Ron Machtley, newly retired president of Bryant University.
Artist Republik’s value proposition for the burgeoning $2B global indie music industry (Raine Group Forecast, Rolling Stone, March 16,2020) transforms how performers, musicians, technicians, producers, venues and support vendors create direct business connections, spend less on marketing, and retain revenue. According to Founder and CEO Nick Cianfaglione, his company’s beta enrollment of 15,000 users worldwide is proof that music self-distributors and boutique music labels were missing a dedicated marketplace hub.
“The indie music industry needed its own ‘LinkedIn meets ASCAP’ social community to affordably bring talent together to make deals.” explains Cianfaglione, “Artist Republik accelerates this business building by dismantling industry conventions that bottlenecked careers.”
Artist Republik is free to join, after which members access what they want from a bespoke ‘Show Tool’ services menu that supports end-to-end performance marketing on a pay-per-use basis, including:
· low-cost ticketing sales hosting
· show booking/management system
· venues and festivals
· contract negotiations
· IP protections
· fanbase development
· musicians and producers
· graphics, websites and videography
· direct DSP distribution (one-time $5 fee/single)
These business functions are essential to distinguish talent across mature and emerging music genres. Artist Republik’s members retain 100% of their revenue without hidden fees buried in lengthy contracts.
In the era of indie phenoms like Billie Eilish and with Spotify closing in on 300M users (Statista, March 2020), Artist Republik offers a timely disruption investment opportunity directed to this white-hot growth industry. The business’s monetization is derived from a combination of subscriptions, transaction fees and advertising.
ABOUT ARTIST REPUBLIK: