Don’t sleep on the creator revolution: Bandlab valued at $303m as it raises $53m

Don’t sleep on the creator revolution: Bandlab valued at $303m as it raises $53m


The large information in the present day in the music business is that Warner has acquired a storied file label, 300 Entertainment, for $400 million.

Or is it? For those that consider the most fast future development in music would possibly come from indie creators, reasonably than blockbuster rightsholders, this information may, ultimately, show simply as commercially profound:

Bandlab, described as a ‘social music platform’, has simply raised $53 million, valuing its firm at $303 million.

BandLab is the flagship product of BandLab Technologies, a division of Singapore-based Caldecott Music Group (CMG), which additionally owns Vista Musical Instruments and NME Networks, which counts publications such as NME, Uncut and Guitar.com amongst its roster of manufacturers.

The BandLab Technologies division additionally consists of professional-level digital audio workstation, Cakewalk.

The $53 million funding in BandLab has come from Vulcan Capital with participation from K3 Ventures as effectively as current investor Caldecott Music Group.

It comes 10 months after Splice, one other creator instruments firm, raised $55 million in Series D funding, led by Goldman Sachs’ GS Growth.

Bandlab says that the new $53m spherical will enable it to develop its crew and “continue to refine and grow its offerings to music creators and aspiring artists worldwide”.

BandLab’s platform includes a Mix Editor and a royalty-free Sounds library, as effectively as Mastering, an AI-powered ‘SongStarter‘ tool, and BandLab Distribution.

The investment in the platform comes amidst a rise in what MBW noted this week is the $9.99 creator subscription economy: a fast-growing – segment of the modern music industry that offers artists tools and instruments with which to create music and sell creations.

What differentiates BandLab from its rivals in the music making platform market, however, is that it claims to be 100% free to use.

At the root of this growth in the music making platform sector is that music fans, possibly accelerated by more time spent at home during the pandemic, are increasingly also considering themselves to be music creators.

According to Midia, the number of releasing artists grew by a third in 2020 alone.

BandLabs’Lead investor Vulcan Capital is the multi-billion-dollar funding arm of Microsoft co-founder and philanthropist Paul G. Allen.

New investor K3 Ventures is a enterprise capital agency which was an early backer of tremendous app Grab as effectively as tech large Bytedance.

“We’re not only doubling down on our market leading creator tools, but also prioritizing compensation for artists and protection for rights holders. If creators aren’t being paid fairly, it’s a major barrier to their development and growth as artists.”

Meng Ru Kuok, BandLab

BandLab CEO & Co-Founder Meng Ru Kuok, mentioned: “Our vision is a future where there are no barriers to making and sharing music, in particular among independent musicians and creators, and among mobile-first users, the billions with smartphones and original musical ideas.

“We’re not only doubling down on our market leading creator tools, but also prioritizing compensation for artists and protection for rights holders. If creators aren’t being paid fairly, it’s a major barrier to their development and growth as artists.”

“With accessibility, creativity, and collaboration at their core, we strongly believe in their vision for the future of music creation, and are excited to embark on this journey as a partner.”

Tommy Teo, Vulcan Capital

Managing Director and Head of South-east Asia at Vulcan Capital, Tommy Teo

Managing Director and Head of South-east Asia at Vulcan Capital, Tommy Teo added: “With a passionate community of millions worldwide, BandLab has an incredible track record of providing innovative and meaningful tools for music creators and artists globally, not only to primary markets like the US, but extending far beyond into developing and underserved markets as well.

“With accessibility, creativity, and collaboration at their core, we strongly believe in their vision for the future of music creation, and are excited to embark on this journey as a partner.”

Music Business Worldwide

Leave a Reply

Your email address will not be published. Required fields are marked *