Friday, October 5, 2018

WMG Launches Multi Million Dollar 'Boost' Fund | hypebot

WMG-W-logoWarner Music Group has launched WMG Boost, a seed investment fund to support entrepreneurial growth and innovation in the music industry. The multimillion dollar fund will invest in early stage startups within and adjacent to recorded music and music publishing. 


WMG Boost

“WMG Boost is all about nurturing the diversity of ideas within the music ecosystem, especially at this meeting point between music and tech,” said Ole Obermann, Chief Digital Officer, Warner Music Group. “This fund enables us to support thoughtful entrepreneurs, learn more about emerging business models, and invest in the creation of more opportunities for artists.”

WMG Boost will cover the spectrum of places where technology intersects with the music industry including AI, blockchain, virtual reality, mobile gaming and voice recognition. In addition to seed funding, portfolio companies will have access to WMG’s music industry expertise.

Warner Music Group has some experience in acquiring (Songkick) and investing in (Landr and Pexeso) music related tech startups, and is a founding member of Techstars Music.

Criteria For Applicants 

Startups in the pre-revenue through Series A stages can be considered investments for up to $1 million. 

"We are interested in a wide array of concepts across the spectrum of technology’s intersection with the music industry, from discovering new artists to creating music and promoting it. We regularly review and work with technology companies that leverage AI, blockchain, music creation, virtual and mixed reality, mobile gaming, voice, and more!"

Start-ups can learn more about the fund and submit business plans for consideration here.


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