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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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Creative Industries

Music deals — Week 5, 2023

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Here's a list of the week's most important deals:

Hipgnosis Song Management has acquired various rights from the song catalogue from TMS, the British songwriting and record production team consisting of Tom ‘Froe’ Barnes, Benjamin Kohn and Pete ‘Merf’ Kelleher. Hipgnosis has acquired a 100% interest in publishing copyrights — including the writer’s share of performance —, producer royalty streams and neighbouring rights for 217 songs in the TMS catalogue. Terms of the agreement were not ...

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Creative Industries

Key figures — Week 5, 2023

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52 billion

That's the number of cumulative minutes US subscribers to Netflix spent watching the show 'Stranger Things' in 2022, making it the most watched streaming show of the year, according to Nielsen. The second most viewed show was 'Ozark', also on Netflix, with 31.3 billion minutes. In the top 15 most watched shows, only two were not from Netflix — 'The Boys' and 'The Ring of Power' on Amazon Prime.  

3.75 billion

That's the total number of people in the world who were using a so...

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Creative Industries

Quotes of the week — Week 5, 2023

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"Spotify will double down on things that worked well and stop doing the things that don't work. We are a lot more focused on efficiency."By Spotify CEO Daniel Ek in an interview with Reuters in which he admitted that the company over-invested in 2023 and will be showing more financial discipline in 2023.

"There’s a lot of conversation going on now about how do the deal structures evolve. How do we create more risk sharing among talent, producers and streamers? How do we create additiona...

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