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Digital Economy

British start-up Shodement secures £10 million in advance facility to invest in new independent artists

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L0ndon-based artist development company Shodement has secured an advance facility of £10 million ($13.7m) from a pool of investors, banks in France and finance partners in the UK.

The company, backed by Axial Capital, plans to use the credit facility to provide funding for independent artists, mostly through advances against earnings. Shodement has developed an app that allows them to clear advances, connects independent artists to brands and use tools to develop their careers.

“We've h...

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Emmanuel is a Washington, DC-based freelance journalist, blogger and media consultant, specialising in the entertainment business and cultural trends. He was the US editor for British music industry trade publication Music Week. Previously, he was the editor of Impact, a magazine for the music publishing community (2007-2009), the global editor of US trade publication Billboard (2003-2006), and the editor in chief of Billboard’s sister publication Music & Media (1997-2003).

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Digital Economy

Google shuts down gaming platform Stadia

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Google is "winding down" its games streaming service Stadia after just three years operating, due to a lack of traction with users.

The news was announced via a blogpost from Phil Harrison, Vice President and General Manager of Stadia. "A few years ago, we launched a consumer gaming service, Stadia," wrote Harrison. "And while Stadia's approach to streaming games for consumers was built on a strong technology foundation, it hasn't gained the traction with users that we expected so we’ve made...

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Creative Industries

Marathon LABs’ accelerator programme focuses on tackling value creation

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Marathon LABs, the startup mentoring initiative from London-based Marathon Music Group, has selected six companies that will take part in its fourth ‘LABs’ with a programme focusing on tackling value creation.

Marathon said the six participating companies "operate within a broad music & tech ecosystem centering on web3 applications, live entertainment within metaverse environments and broadening access to financial and data analytics for artists and their teams."

Marathon's Alexandra...

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Digital Economy

Warner Music Group partners with OpenSea to offer Web3 tools and resources to artists

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Warner Music Group is collaborating with OpenSea, a peer-to-peer marketplace for NFTs, to provide a platform for select WMG artists "to build and extend their fan communities in Web3."

WMG explained that as part of the engagement, WMG artists would get "early access to OpenSea’s new drops product, along with improved discoverability, personalised storytelling on customised landing pages, and OpenSea’s industry-leading safety and security features." The first collection currently in developme...

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