Jeeni Blog

Helping the next generation of talent to build a global fanbase

COUNTDOWN IS ON 6 DAYS LEFT TO INVEST

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COUNTDOWN IS ON 6 DAYS LEFT TO INVEST

It seems like a long time ago that Jeeni announced that they had reached their funding target in 6 days and were aiming to overfund. Well they did and now they have 6 days remaining and if you want to see our pitch click HERE.

Jeeni, the social music platform that brings artists closer to their fans and shares revenue ethically, has successfully raised over £340K on Crowdcube across three rounds.

With 350million streamed music subscribers and market growth up by 39% this year, Jeeni is likely to ride the wave and be a huge success, not only with unsigned musicians and performers but with their superfans.

“We set a target to raise £100,000 for 2.4% with a pre-market valuation of £4M,” says Jeeni founder Shena Mitchell.  “And while we have the support of several major investors, the beauty of Crowdcube is that artists themselves can actually own a stake in the company for as little as £10.”

Shena continues, “Jeeni’s mission is to support unsigned music and performers, by helping them build a fanbase.  We aim to fast-track careers in the music business, and make sure they take the lion’s share of the revenue that’s raised.

Jeeni is needed more than ever in this Covid-19 New Normal, and we have proved that the demand is high. Currently we can only support 100,000 videos, so we must now move up a gear as we head for global roll-out.  This Round Three investment will be used to scale up again and launch our next-generation platform. It will also be used to develop our iOS and Android apps.

With the financial backing secured, we’ll be creating new jobs in the area, which is great for the local economy.  When you consider the wealth of music talent in Portsmouth – hosting over 2,000 music events a year with Victorious, The Guildhall, Band Stand, Wedgewood Rooms, and all the Portsmouth Festivities and pubs – we’re alive to the opportunities of our local music culture, creativity and talent. But with live venues locked down for now, the online opportunity of Jeeni is greatly increased.

It’s so cool to think someone reading this might choose to invest in Jeeni now with just £10, and then use Jeeni to build their own fanbase for fame and success!  We’re going to try hard to make sure that happens.”

JEENI is currently inviting investment on Crowdcube.  To find out how to get involved please join our mailing list for updates or check out our fundraising pitch. If you want to see our pitch click HERE.

10
Jun

Jeeni a more robust music ecosystem for everyone.

The music industry is at a critical inflection point. After years of declining sales and waning fan enthusiasm, the rise of streaming has ushered in a new golden era for an industry that has benefited artists, songwriters, copyright owners, and fans alike. In 2019, streaming was the engine driving revenue growth in the US music industry for the fifth consecutive year. Download the 2020 Streaming Forward report, featuring the latest updates on streaming’s role in the music industry, how digital discovery is elevating new artists and genres, and what we can expect ahead. The Evolution of the music industry over the the last two decades has been staggering. The rise of streaming has revolutionized all facets of music, empowering artists and creators by expanding their access to fans, allowing music listeners to seamlessly connect with their favorite songs whenever and wherever they want, and driving new music choice and creativity. For fans, copyright owners, and creators alike, the positive impact of this evolution has been monumental: with total music stream reaching the one trillion mark in 2019, fans are listening to more music than ever before, and the industry is enjoying a multi-year growth cycle driven by the streaming economy. Over the next seven years the streaming revolution will only grow more powerful. Fast-forwarding we can expect: Forecasts remain just that of the industry's trajectory in the future. While the impacts of Covid-19 are still being felt, and have undoubtedly impacted the music industry, we can expect streaming growth to continue. What we cannot forecast is what new music consumption behaviors might surprise us, and new innovations by the streaming services that we have not begun to see. But with growing optimism and increasing inward investment attracted by the streaming-driven hyper growth, the music industry is experiencing boom times – for consumers,record labels and publishers and most of all creators. Click here to view the 2020 Streaming Forward Report. Click HERE to visit or return to jeeni.com

17
Mar

What is Music Without Collaborations?

What is music without collaborations? We all know the collaborations that have shaped our musical tastes, Lennon and McCartney, Dr Dre and Snoop Dogg, Kenny Rogers and Dolly Parton. Even the Strauss brothers worked together on classical orchestral pieces in the late 1800's. The choices are infinite and across all music genres. Whether in the writing or the production, two heads can be better than one. Dr Dre and Snoop Dog - Music Collaborators Within the industry, the 'business' side is also benefitting from collaborating. Last summer, we were delighted to announce the strategic alliance between Jeeni and California-based AmplifyX, the only FINRA and SEC compliant platform that allows investors to build a portfolio by directly funding musicians. The alliance was arranged by Kelli Richards, Jeeni Managing Director USA, who was mentored by Steve Jobs at Apple where she launched and managed the Apple Music and Entertainment division. This alliance gave a major advantage to Jeeni in the USA, our most important global territory in terms of artists and revenues. We gained access to more rising stars along with their followers and fanbases, with mutually advantageous joint promotions and publicity. The partnership will officially kicked off with a global streamed concert, featuring our 10 most popular artists from both sides of the Atlantic, and will be co-branded between Jeeni and AmplifyX. Co-founder of AmplifyX, Bobby Kamaris said, “Our companies run in an adjacent space helping independent artists, and our philosophies and motives are very very close. What you guys at Jeeni have done in putting it together and launching is actually incredible.” Adam Cowherd - CEO of AmplifyX CEO of AmplifyX Adam Cowherd added, "Did you know that artists take home only 12% of the $43 billion spent on music annually, according to Citigroup? [1] The hip-hop artist Russ put it perfectly when he said, 'The music business isn’t set up for the artists to get rich. It’s set up for everyone else to get rich off the artists.' [2] When the mechanics of the music industry are broken down, we see just how many hands are in the pot: record labels, managers, producers, booking agents, and streaming platforms. A report by Ernst & Young highlighted the post-tax payouts of streaming revenue and identified that record labels are taking nearly 75% of the payout. [3] Why are artists today signing with record labels?" Founding Director Shena Mitchell adds, "Working with AmplifyX, is an exciting opportunity for Jeeni to develop strong relations with USA partners. AmplifyX is focused on building a new framework to fund independent artists with their unique platform for artists to raise capital from nontraditional sources. Our visions are entirely complementary and aligned." Jeeni, is the social music platform that brings artists closer to their fans, and shares revenue ethically. Become a member and build your showcase to promote your work and earn from it, or join as a fan and know that your money is going to the people who are entertaining you with their talents. www.jeeni.com www.amplifyx.com

23
Mar

Where Did All The Bands Go?

This month, Adam Levine of Maroon 5 caused a ripple when he was chatting to Apple Music's, Zane Lowe. Whilst referring to all the bands about in 2002 when they released their first album, he questioned, "where did all the bands go? I feel like they're a dying breed." After clarifying he meant bands, "in the pop limelight", it still managed to spark a mix of bemusement and outrage from some fellow artists. Maroon 5's Adam Levine - photo Mauricio Santana Though his remarks may have smarted somewhat, it can't be denied, he has a point! In the early 00's new bands were a dime a dozen, filling arenas and regularly collecting platinum discs. New TV talent shows such as Pop Idol and X Factor filled Saturday nights with girl groups and boy bands, but the trend is shifting. According to Dorian Lynskey in the Guardian, currently, there are nine groups in the UK Top 100 and only one in the Top 40. Two are the Killers and Fleetwood Mac, with songs 17 and 44 years old respectively, while the others are the last UK pop group standing (Little Mix), two four-man bands (Glass Animals, Kings of Leon), two dance groups (Rudimental, Clean Bandit) and two rap units (D-Block Europe, Bad Boy Chiller Crew). There are duos and trios, but made up of solo artists guesting with each other. In Spotify’s Top 50 most-played songs globally right now, there are only three groups (BTS, the Neighbourhood, and the Internet Money rap collective), and only six of the 42 artists on the latest Radio 1 playlist are bands: Wolf Alice, Haim, Royal Blood, Architects, London Grammar and the Snuts. Of course, radio and streaming are dominated by pop, rap and dance music but festival lineups don’t point to a golden age of bands, either. Of those that have emerged in the past decade, only half a dozen have headlined either Coachella, Reading/Leeds, Latitude, Download, Wireless or the main two stages at Glastonbury. That’s The 1975, Haim, alt-J, Rudimental, Bastille and Tame Impala, and the last of those is effectively a solo project. Only one band, the Lathums, appeared on the BBC’s annual tastemaking Sound of … longlist this year, which is not unusual: bands haven’t been in the majority since 2013. The album charts are still regularly topped by bands thanks to loyal fanbases who still buy physical formats – such as Mogwai, Architects and Kings of Leon in recent weeks – but not since 2016 has one hung on for a second week. So what happened? With even the largest, well known bands struggling to get into the Top 20 in the streaming world, could one theory be, solo artists are cheaper and easier to handle for the record labels? Apparently not, according to Dirty Hit label's, Jamie Osborne. His independent label is responsible for among others, Wolf Alice and The 1975, but he is still desperate to find the next band he can sign and develop. However, he's not finding it easy! The problem is, he says, there aren’t that many around. “It’s more likely now that a kid will make music in isolation because of technology. When I first met the 1975, they were all friends meeting in a room to make noise. So much is done in bedrooms these days, so you’re more likely to be by yourself.” The 1975 - photo Spotify Press Ben Mortimer, co-president of Polydor Records, says that cost is more of an issue for artists than for labels. “If you’re young and inspired to become a musician, you face a choice. If you go the band route, you need to find bandmates with a similar vision, you need expensive instruments and equipment, and you need to get out on the road to hone your craft. On the other hand, you could download Ableton [production software], shut your bedroom door and get creating straight away. Culture is shaped by technology.” So if the expenses are too high to even start a band, then rehearsal space and travel costs just add to the negatives. Does that mean bands and touring will only be for the rich, middle-class kids? “Social media has filled the hole, creating individual stars who are seen as more ‘authentic’ than anything the retro talent-show format could offer,” says Hannah Rose Ewens, author of Fangirls, a study of contemporary fandom. "Social media is built for individual self-expression. Platforms such as TikTok, Instagram and Twitter – and even the portrait orientation of a smartphone screen – give an advantage to single voices and faces while making group celebrity less legible.  Hannah Rose Ewens with her book 'Fangirls' The challenge posed by all pop cultural trends is to work out whether or not it is a permanent structural shift or just another phase. The right group at the right time, whether it is the Strokes or the Spice Girls, can change everything. In the short term, the pandemic has made it impossible for new bands to form and threatens the survival of the regional venue circuit on which they depend, while Brexit has thrown up expensive new obstacles for touring bands. Yet Jamie Oborne remains optimistic. “I’m excited about the wave of creativity that’s going to follow this period that we’ve just lived through,” he says. “I feel this hankering in youth culture for real experience and connection. I’m still quite the romantic when it comes to music. Look at Fontaines DC. I see a picture of them and wish I was in a band. It’s the same thing as walking down the street with your friends and feeling like you’re part of something. Anything’s possible.”