Concord Music, RecoChoku and Royalty Exchange join Warner Music Group, Harmonix Music Systems, Q Prime Management, Bill Silva Entertainment, Silva Artist Management, and Sony Music in supporting startups building new solutions for the music business
A big part of the Techstars Music Accelerator strategy is our deep cooperation with the global music business. We believe cooperation produces greater return on investment. Today, we are thrilled to announce the addition of three new member companies for Techstars Music 2018: Concord Music, RecoChoku, and Royalty Exchange.
This expands our membership to nine companies — Warner Music Group, Concord Music, Harmonix Music Systems, RecoChoku, Q Prime Management, Bill Silva Entertainment, Royalty Exchange, Silva Artist Management, and Sony Music — a truly global consortium of rights owners, hardware and connected device manufacturers, game creators, digital service providers, artist managers and live event promoters.
Techstars Music members provide more than capital, they actually run the program with us: helping at every step of the process, from selection to mentoring to business development and even follow-on investment. Their diversity of skills and talent help the startups in our program gain real global advantage.
Here’s a little bit of info about our new members, and what they’ll bring to Techstars Music 2018:
Concord Music was formed at the beginning of 2015 from the merger of Concord Music Group, one of the world’s leading independent record companies, and The Bicycle Music Company, a premier independent music publisher. Since merging, Concord Music has made a number of acquisitions and strategic investments in other music publishing and record companies, and is now one of the largest integrated music publishing and record companies in the world, with offices in Los Angeles, New York, Nashville, Cleveland, London and Berlin. Concord Music will add an independent label and publisher perspective to the program, while also offering startups access to a deep and diverse set of mentors from their executive ranks.
RecoChoku is perfectly positioned to offer Techstars Music startups insight and opportunity into Japan, currently the No. 2 music market on Earth. In addition to its on-demand streaming and download services, RecoChoku is also expanding into artist development and support, live events and a new music experience business called WIZY. RecoChoku will work with Techstars Music startups on international expansion, both during the recruiting process and within the program.
Royalty Exchange is the world’s largest marketplace for buying and selling royalties. Artists turn to Royalty Exchange to raise money and take control of their financial future, while investors look to them to generate income that’s hard to beat. Their experienced executive team, comprised of successful serial entrepreneurs based in Denver, Colorado, will work with startups on financial modeling, pricing strategy, fundraising and operations.
We’re thrilled to have Concord Music, RecoChoku and Royalty Exchange join us in recruiting, selecting, mentoring and investing in startups solving problems for the global music business.
We’ll be making our final selections for 2018 on or around December 15th.
What are we looking for? Techstars Music is for startups working on scalable solutions for:
- New music experiences for home, venue, festival, mobile & connected devices
- Music creation, collaboration & sharing
- Direct-to-consumer marketing, ticketing & eCommerce
- Content infrastructure & delivery
- Royalties, reporting, rights management & licensing
- Data mining & machine learning
- Music education for digital natives
- Technology-based artist discovery, management & services
- Event and crowd safety
In 2017, we invested in 11 startups (more info here) that have gone on to raise more than $15M collectively. Six of those 11 companies came to LA from outside the United States, a ratio we expect to continue in our 2018 class.
Is Techstars Music the right accelerator program for you? Take a look at our upcoming events here and request a meeting to show us what you are working on. Apply online here, with more information available here. Applications close October 15th, so get after it!
See you out there!
-Bob Moczydlowsky, @bobmoz
Managing Director, Techstars Music