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Music Industry Funding Saw 27% YoY Growth in Nov 2024

2024-12-09

Music industry funding witnessed a significant turn in November 2024, defying a falloff in cumulative YTD raises. October's growth was built upon, with core funding seeing double-digit increases. However, the cumulative value of YTD raises still lags behind 2023. DMN Pro's Music Industry Funding Tracker provides valuable insights, compiling rounds from within and around the industry. In November 2024, there were five raises, the same as the prior-year month. Unlike 2023, the rounds in 2024 didn't have a large AI raise. After subtracting that, November 2023 had $36.80 million, while 2024 had $46.60 million, a nearly 27% YoY spike. (PlayAI's $21 million seed round is included in the core category as it's close to the music sphere.) Despite the improvement, the average core industry round size was similar in both months. As we enter the final weeks of the year and look to 2025, it remains to be seen if the recent growth is a broader trend. Between January and November 2024, disclosed capital was $3.21 billion, about 68% below 2023. 2023 also saw significant industry-adjacent funding. Even without non-core capital, music industry funding had a nearly 35% YoY slip. Concord's $850 million ABS and Iconic Artists Group's $1 billion in capital alone made up nearly 58% of total industry funding. When factoring in other rounds, the share increases further. There's no telling what's ahead, but logic and evidence suggest a funding cooldown in the ticketing arena and that catalog investors are well-positioned.

October's Growth and November's Performance

1: October laid the foundation for November's growth. Core music industry funding saw a remarkable double-digit increase during November 2024. This growth was a positive sign, but it still couldn't make up for the lag in cumulative YTD raises compared to 2023. The Music Industry Funding Tracker became a crucial resource, compiling rounds from various sources within and around the industry. 2: November 2024 had five raises, similar to the previous year. However, the absence of a large AI raise in 2024 was notable. This difference in funding sources had an impact on the overall figures. The $46.60 million in core music industry funding for November 2024 represented a significant YoY spike, highlighting the industry's potential.

Core Industry Round Sizes and Trends

1: Despite the YoY growth in core music industry funding, the average round size remained relatively stable. In November 2023, the average was $9.2 million, and in 2024, it was $9.3 million. This similarity in round sizes shows that while there was an increase in the total funding, the individual deals were of similar magnitudes. 2: The consistency in average round sizes indicates that the industry is evolving in a way that doesn't rely solely on large-scale raises. Smaller and medium-sized rounds are also playing a significant role in the growth of the music industry. This trend is likely to continue as more startups and established companies seek funding.

Looking Ahead to 2025

1: As we approach the end of 2024 and look ahead to 2025, the future of music industry funding remains uncertain. The recent growth may or may not be a sign of a broader trend. It will be interesting to see how the industry performs in the coming months and if the current momentum can be sustained. 2: The data shows that even without non-core capital, music industry funding has faced challenges. A nearly 35% YoY slip in the nearly year-long window is a significant setback. However, the contributions of certain companies like Concord and Iconic Artists Group give hope that there are still opportunities for growth.

Impact of Funding on Different Sectors

1: The ticketing arena, which has been red-hot, is expected to experience a funding cooldown due to 2024's capital injections and broader market trends. This could have implications for companies and investors in the ticketing space. It will be important to monitor how this sector adjusts to the changing funding environment. 2: Catalog investors, on the other hand, seem well-positioned for the foreseeable future. Despite aggressive deal-making, their positions remain strong. This stability provides a sense of security in an otherwise uncertain market. It will be interesting to see how these investors continue to shape the industry.

Sean “Diddy” Combs, a familiar figure in the headlines, has recently found himself at the center of a maelstrom of controversy. Allegations ranging from assault to misconduct have thrust him into the public eye, and as these cases unfold, a web of high-profile names becomes intertwined.

Unraveling the Web of Celebrity Allegations

The Infamous 2014 Las Vegas Party

At the heart of these allegations lies a party hosted by Diddy at Club Rehab in Las Vegas. Attendees such as Nicki Minaj, Lil’ Kim, and Mary J. Blige were present. Court documents claim that a woman attended an after-party at Diddy’s suite at Planet Hollywood and alleges being drugged and assaulted. Although these three stars are not accused of wrongdoing, their association with the event has sparked discussions about celebrity accountability and the blurring of lines.

Just the mention of their names in connection with such a controversial event has reignited conversations in the entertainment world. It shows how even seemingly innocent associations can lead to intense public scrutiny.

Jay-Z’s Legal Battle

Unlike the others, Jay-Z has been directly implicated in separate allegations. A civil lawsuit accuses him and Diddy of assault dating back to 2000, involving a 13-year-old girl. Jay-Z has vehemently denied these accusations, deeming them baseless and a part of a calculated attempt to extort him. His fiery response has only intensified the scrutiny of his association with Diddy.

This situation highlights the complex web of relationships within the entertainment industry and the potential for even the most renowned stars to be dragged into legal battles due to their connections.

Nicki Minaj and Lil’ Kim: Guilt by Association?

The mere presence of Nicki Minaj and Lil’ Kim at the 2014 party has set off a wave of online chatter. Neither rapper is accused of any involvement in the alleged misconduct, yet their connection to the event has raised questions about the company they keep.

Fans and critics are engaged in a heated debate about whether celebrity friendships and professional collaborations come with a responsibility to distance themselves from controversy. It showcases the delicate balance that celebrities must navigate in a world where every move is under the microscope.

Mary J. Blige’s Name in the Mix

Mary J. Blige, another attendee of the Las Vegas party, has also found herself tied to these allegations. Like Minaj and Lil’ Kim, she is not accused of any wrongdoing. However, her presence at an event now at the center of these lawsuits has brought her under the same public spotlight.

It leaves fans wondering if the inclusion of these stars’ names is a deliberate ploy to generate headlines or a reflection of deeper industry dynamics. The entertainment industry is a complex web, and even those not directly involved can be affected.

Other Celebrities Named in Allegations Involving Diddy

Stevie J (Steven Aaron Jordan), a music producer and television personality, was named in a court filing related to a $30 million lawsuit against Diddy by music producer Rodney Jones. The filing suggests his involvement in Diddy’s circle and potential financial benefits or Hollywood connections.

Prince Harry was also named in an explosive lawsuit just one month before federal agents raided Diddy’s homes. Although the specifics of his involvement were not detailed, his inclusion highlights the extensive reach of these allegations.

Bishop T.D. Jakes and Cuba Gooding Jr. were also named in Diddy’s court documents, indicating the wide-ranging nature of the associations being scrutinized. Each name adds another layer to the complex web of celebrity connections.

The Larger Implications

The involvement of these high-profile names, whether through direct allegations or mere association, sheds light on the complexities of celebrity culture and accountability. The ongoing lawsuits against Diddy have raised broader questions about the entertainment industry’s handling of misconduct and the role of those around controversial figures.

Legal experts suggest that naming celebrities in these lawsuits may be a strategic move to apply pressure or gain media attention. Fans and onlookers are left to speculate about the true extent of the connections and how these cases will shape public perception of Hollywood’s elite.

From Nicki Minaj to Jay-Z, the list of celebrities named in connection to Diddy’s legal troubles continues to grow. As these lawsuits progress, the entertainment industry remains under intense scrutiny, and the question of celebrity responsibility hangs in the air.

Pittsburgh, a city with a rich football history, is currently witnessing the Steelers' intense pursuit of excellence. The team, which has shown great promise in the preseason, is now facing the real challenges of the regular season. With a record of 10-3 and a first-place standing, the Steelers have had a successful start, but they know that the real test lies ahead.

Unraveling the Steelers' Path to Victory

Preseason vs. Real Work

Preseason games are often seen as a warm-up for the real season. But for the Pittsburgh Steelers, preseason is now a thing of the past. The team has shifted its focus to the challenges that lie ahead. With six victories against teams with losing records and four solid wins against tougher opponents, the Steelers have proven their mettle. However, they know that these wins are just a stepping stone. As safety DeShon Elliott said, "It's just going to show us how good we can be."The upcoming 11-day sprint is a crucial period for the Steelers. They will face NFC juggernaut Philadelphia, a rematch with the Ravens, and a Christmas Day showdown against the Chiefs. This stretch will test the team's resilience and determination. Wide receiver Calvin Austin III, who needed to be reminded about the tough schedule, understands the importance of these games. He said, "That's a tough little stretch, but at the end of the day it's a five-star matchup as Coach T says because we're in it."

What's Working

One of the things that are working well for the Steelers is Russell Wilson's determination to get every eligible skill position player involved. In the past week against the Bengals, he connected with 10 different players. In the rematch with the Browns, it was eight, including veterans like Mike Williams and Scotty Miller. Coach Mike Tomlin's weekly tunnel vision creates a focused environment where players like Miller can shine. After an acrobatic 20-yard third-down grab, Tomlin greeted Miller with "this isn't a lightning strike," emphasizing the importance of hard work. As Miller said with a smile, "If you could tell him that, that'd be great."

What Needs Help

George Pickens' maturity is an area that needs improvement. Despite his talent and importance to the team, Pickens still frequently finds himself in trouble with the league. He has been fined for unsportsmanlike conduct and unnecessary roughness. His teammates respect his talent, but they hope he can "cut out the stupid stuff" before the playoffs. Watching the team win without him while nursing a hamstring injury might be a wake-up call for Pickens.

The Future

The Steelers have a 99% chance of reaching the postseason for the fourth time in five years. But their ultimate goal is to do something they haven't done in nearly 60 years: beat the Eagles on the road. Pittsburgh's most recent victory in Philadelphia was on Oct. 24, 1965. This upcoming game against the Eagles will be a tough test, but the Steelers are ready to rise to the occasion. As they move forward, they will continue to work hard and strive for excellence. Injuries have been a concern, with defensive tackle Larry Ogunjobi leaving in the second quarter with a groin injury. However, defensive tackle Montravius Adams is trending toward playing for the first time since October and could be available in Philadelphia. The Steelers' turnover margin of plus-28 since the start of the 2023 season is tops in the NFL, giving them an edge in close games. With their sights set on the playoffs, the Steelers are determined to make history.