Australian Music Library Startup Melodie Raises $660,000 In Bridge Funding
Photo Credit: Melodie
Australian music licensing startup Melodie has raised $1 million AUS ($660K USD) in funding ahead of a strategic capital raise planned for 2025.The companyâs total funding sits at just under $3 million AUS ($2M USD) from investors including early Atlassian employee and Code Barrel founder Nick Menere. Peter Strain, co-owner of The Drop Festival is also counted among Melodieâs early investors.
Melodie was founded in November 2017, since then the music licensing serviceâs core numbers have grown exponentially. The service has seen a 96% â 229% year-over-year increase in revenue over each of the past three years. That includes snowballing broadcast royalty income and recurring revenue from creators, brands, broadcasters, production companies, and API users.
The companyâs continued growth and success has been acknowledged by The CEO Magazine where Evan Buist, Melodieâs Founder and Managing Director, was recently awarded âHighly Commended Entrepreneur of the Yearâ ahead of Melodie winning the prestigious âProduct of the Yearâ award in the Audio Production, Processing and Networking category at NAB Show in Las Vegas. The service also took home Acquisition Internationalâs Global Excellence Award for âMusic Platform on the Yearâ in 2024.
Investors are paying attention as Melodie just announced a convertible note bridging round ahead of a larger strategic equity raise planned for 2025. With $1 million already committed, there is strong investor confidence in the companyâs continued growth.âAs we mark our sixth year of operation, we are building closer relationships with our partners, and broadening our global presence,â adds Evan Buist. âThree of the worldâs four largest royalty markets are France, the UK, and Germany. With more than 20 million minutes of our music now broadcast on FTA and VOD platforms in Australia alone, we are looking to replicate that success in key European marketsâleveraging data to create long-term, powerful strategic alliances.â
Every time a piece of music is downloaded at Melodie, an artist get paid. Melodie continues to create income for countless independent musicians, in a way that places value on their creativity and acknowledges the arts as an income-generating industry.
