Music technology is the use of tools, devices, and machines to create, perform, record, and analyse music. Music tech also covers how music is distributed, created and consumed. Examples of music tech vary from digital devices such as computers, software, audio equipment, and more obvious examples such as recording equipment such as microphones, monitors and studio mixers.
Companies in the sector attracted $10 billion in equity investment in 2023, double the amount secured in the previous year. With the world becoming more high tech each day, this has been reflected in the industry in relation to music consumption, performances, how we view music and this makes for an incredibly attractive industry to invest in.
This is happening all over the world, so let's look through some examples to outline why this is the case.
Amplify World
Amplify World is a technology-driven worldwide company founded by and for musicians. United in a shared vision of enabling equal opportunity for all artists to earn sustainably. Their website describes a team which possesses an “extensive and deep understanding of all sides of the music industry and are on a mission to transform the way the music industry earns with a solution that is technology-powered and community-driven”. They offer growth tools to connect with fans, music distribution which ensures artists keep 100% of their royalties, tools to monetize around merch and arguably their most unique selling point is their ‘fan community’ for artists which “boost your visibility, activate more fans and increase your earnings”.
For upcoming artists who are trying to make their mark in this industry it seems like the perfect pay off to join Amplify World, a company which prides themselves in creating technology solutions for musicians that break down barriers to industry, and it’s not just me who think they're offering something attractive either!
Recently, Amplify World announced a $1.2 million investment secured through a Simple Agreement for Future Tokens (SAFT) from Chapel Ventures, an early-stage venture firm. The fund aims to empower musicians with a decentralised platform for revenue and engagement. It will serve as the backbone of the AmplifyWorld platform, enabling a new era of revenue and engagement possibilities for artists and fans worldwide. Irfon Watkins, CEO of AmplifyWorld, said: “This investment from Chapel Ventures is a testament to the disruptive potential of our platform”.
Setmixer
Setmixer is a platform that allows artists to record and mix their live performances with studio quality, as well as helping them create music, record, and refine. They record their performances, including soundchecks and gigs, and are creating tools for using these recordings. They describe themselves as artist-first in everything that they do and are “on a mission to revive the beloved live recording for the digital age—capturing the raw energy and unfiltered talent of live performances with studio-quality audio”. At Setmixer they share 70% of the proceeds from distribution back with the artist—more than any label. They also pledge to work with any artist no matter how far they are into their career.
Likewise, they also support up-and-coming bands and the independent sector, pledging to return 30% of our margins to the venues where the recordings were made or the promoter who organised the shows. This company not only works digitally innovating ways to revive live music but also supports the artists at the forefront of everything they do, making this another extremely attractive company to invest in.
Earlier this year, their USP helped them into getting further investment into what already sounds like a brilliant project, when they secures £600K seed investment led by Raw Ventures. Raw Ventures described the company as an “innovative approach is poised to dramatically alter the landscape of live music distribution and consumption. By enabling artists to distribute more content readily and allowing venues to share in the revenue from performances, Setmixer is redefining the value chain of the live music industry”. Their investment and support of Setmixer demonstrates how much they believe in their aims and goals to expand and reach to more venues across the UK and eventually, internationally.
BeatConnect
BeatConnect is a comprehensive digital audio workstation application that you can access through a desktop-based application. Its USP is that it lets you collaborate with up to four other musicians in real time, and thanks to the extensive tools, it guarantees a smooth music creation and sharing experience. Whether you are a professional musician or an emerging artist this app should be extremely useful to you. Tools include a shared multiplayer sequencer, video chat, cloud storage. Its essentially everything a band would need to mix together but virtually making this so appealing in this modern age.
Earlier this year BeatConnect received $1.7million in investment backed by prominent tech and music industry investors like Sfermion and existing investors FICC (Fonds d’investissement de la culture et des communications), Anges Québec, and Triptyq Capital. BeatConnect said “This platform evolution embodies BeatConnect’s commitment to innovation and their belief in the transformative impact of merging music creation with gaming dynamics.”
