Melodie has raised an additional $1 million, funds that will enable the music licensing platform to continue on its international expansion, The Music Network can exclusively reveal.
That chunk of cash is in addition to the $600,000 secured in September 2021, a sum that helped Melodie expand its API licensing revenue base, bringing in new composers and music tracks, and placing its catalogue in film & TV productions, according to a statement.
The new round includes follow-on investments from early Atlassian employee and Code Barrel founder Nick Menere, and Peter Strain, co-owner of The Drop Festival.
The fresh funding will be used to further propel Melodie’s three core segments: B2C, B2B and B2B2C, with a “particular focus on growing Melodie’s footprint in the U.S. market,” reads a statement from the company.
“It’s been a strong 18 months of catalogue growth, broadcast placements and client acquisitions. Royalties are on the move and LTM revenues are up 250%,” comments Melodie founder and managing director Evan Buist, who recently led Melodie’s presence at U.S. broadcast media trade show, NAB.
“I’m confident we have a strong growth trajectory with offshore revenues set to exponentially increase in the coming months and years as we expand into new territories,” he continues.
“As we mark our fifth year of operation, we are now at the stage of building a global presence and we are committed to playing a significant role in the development and commercialisation of great Australian talent.”
Today, the business is valued at $15 million, up from $4 million at the time of that last funding round.
Coinciding with the new cash injection, Melodie announces a commitment to invest $25,000 each and every year in the development of new First Nations artists for sync opportunities via the Melodie platform.
The demand from clients to “license authentic music from First Nations artists has never been greater,” Buist explains.
“Our goal is to be a driving force in the development of a First Nations Screen Music Economy: to engage and connect Australia’s incredible Aboriginal and Torres Strait Islander artists with the myriad opportunities around music synchronisation and royalties.”
That campaign follows the rollout of a new “Australia” button on its music licensing platform, which, notes Buist, empowers local businesses and brands to search music produced by Australian artists and composers, and — ultimately — support homegrown music.
Melodie represents works by such Australian composers as Helena Czajka (Bluey) and Brendan Gallagher (Messenger, Karma County), First Nations hip-hop artist Nooky, and singer-songwriter, musician and sound engineer James Henry.
It’s “exciting times at Melodie HQ,” Buist tells TMN, “and for Australian music.”
Melodie recently launched a U.S. sync division, helmed by Los Angeles -based industry veteran Gary Helsinger.
Placements include Armed & Dangerous, Real Housewives, Matt Wright’s Wild Territory, Bondi Rescue, Lift the Ice, EVOLVE, Ninja Warrior and Outback Car Hunters, and its platformed music exceeds 2 million minutes broadcast on free-to-air and VOD platforms in Australia alone, the company claims.