Jeeni reaches £100K funding target in 6 days

Jeeni Blog

Helping the next generation of talent to build a global fanbase

Jeeni reaches £100K funding target in 6 days

Day 6: Jeeni announces they have reached their funding target in 6 days and now aim to overfund. 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.

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06
Jun

Portsmouth-based music platform gears up

Jeeni, the Portsmouth-based music tech start-up, has raised over £230,000 to support unsigned artists and performers achieve their dream. Today, Jeeni has returned to Crowdcube to raise more funds and help the cause. Founding director Mel Croucher says, “We are ahead of our original schedule, yet there is still so much more to accomplish. We need to scale our online platform globally, build our mass artist showcases, and achieve our foreign language roll-out. Then we can hit all our targets, and give our new artists the recognition they deserve.” If you want to see our pitch click HERE. Jeeni is launching their next generation platform online, with over 27,500 artists and performers subscribe to their database, and will start trading ahead of schedule. Along with Mel Croucher, who founded the UK leisure software industry, Jeeni was co-founded by Shena Mitchell, who has already raised over £20million for start-up businesses in the Solent area. They have created a formidable management team including Roger Watson, the record-label boss responsible for over 500 million record sales, Kelli Richards, who worked with Steve Jobs for over 10 years and launched Apple Music, Eddie Levy, the founder of ATV Music who owned The Beatles catalogue, and Danielle Woodyatt, former Head of Global Communications at Virgin. Jeeni is also supported by celebrity ambassadors, including John Altman, conductor of the Royal Philharmonic Orchestra, Tony Klinger, producer for The Who, and Dee “Thunderbirds” Anderson. Jeeni’s Shena Mitchell urges Portsmouth-based businesses and investors to take a look at the campaign and support the development and global roll-out of Jeeni. She says: “We are raising £100k for 2.4% with our pre-money valuation at £4M. So if you want to support a Portsmouth-based tech start-up to harness the wealth of genuine unsigned talent, then get in touch.” If you want to see our pitch click HERE. Contact details: shena@jeeni.com

11
Oct

Jeeni's Pick of the Week - Flamingods

Jeeni's Pick of the Week is International psych explorers Flamingods. A four-piece, multi-instrumental band from Bahrain & London who were founded in 2010. The group explores and experiments with an array of influences from western psychedelia, jazz and indie to a wide-eyed obsession with music from the East. Using a vast selection of instruments from the Middle East and Asia. The band marries this with western instrumentations of synthesisers, guitars and drums. To create a potent sound all of its own that they call ‘Exotic Psychedelia’. As well as touring the UK and Europe numerous times the band have played at many festivals. Including Glastonbury, End of the Road, Green Man, Fusion, Into the Great Wide Open, The Great Escape and SXSW. Bands like Flamingods are the type of exciting artists that Jeeni supports on our platform. By creating showcases, supporting creative talent and promoting them to an audience on jeeni.com Flamingods newest album ‘Levitation’ digs deep into themes and sounds of the early Middle East and South Asia 70s psychedelia, proto-metal and British pop. The Bahrani-bred and London-based band pull out a masterful collage. During the process of writing and recording ‘Levitation’, Flamingods found themselves living in the same continent for the first time in four years. It’s this unified process that lends a feel to the new music and has allowed them to make good on their early potential. ‘Levitation’ is the follow-up to their breakthrough 2016 album ‘Majesty’ and follows their ‘Kewali’ EP release for Moshi Moshi in 2017 and a one-off release with Dan Carey for his Speedy Wunderground singles club. Since the release of ‘Majesty’, Flamingods have been travelling the globe. Spreading their exotic psychedelia to the masses and getting people dancing from Austin to Amsterdam. You can catch Flamingods performing live Saturday, October 16th at the Wild Paths Festival in Norwich. JEENI is a multi-channel platform for original entertainment on demand. We’re a direct service between creatives and the global audience. Firstly we give creatives, independent artists and performers a showcase for their talent and services. Secondly we empower our audience and reward them every step of the way.Thirdly we promise to treat our members ethically, fairly, honestly and with respect. Lastly and most importantly they keep 100% of everything they make. Check out Flamingods showcase here on Jeeni: Flamingods | Showcase | JEENI. Along with other showcases to add to your playlist.

01
Aug

4 reasons why the current music-streaming model is not working.

The global pandemic has exposed major problems in streamed music. Musicians couldn't tour or give live performances, so they have become reliant on revenue from their recorded music. Now, a shocking inquiry by the UK Government shows that even successful, critically acclaimed artists cannot live off their streaming revenue. But there is an alternative. Jeeni is a platform that puts control back into the artist's hands. On Jeeni, performers and creatives keep 100% of everything they earn, and thousands of artists are already on board, with an audience outreach that has grown to over two million. In fact Jeeni's growth has been so successful that they have turned to crowdfunding to expand their capacity to meet demand, and raised over £61,000 in a few days. The Government report reveals 4 reasons why the current music streaming model is not working: 1. Even successful artists get pitiful returns from streaming Fair reward is a performer's right to share in the recording revenues of a song by law, regardless of their royalty rates and their outstanding debts. However, streaming means that performers are paid according to the terms of their record deal. Depending on when they started out in their careers, their royalties can fall to as low as 2%. At Jeeni the artists get to keep 100% of everything they make, no limits. 2. Pay disparity between song and record rightsholders The current revenue share from streaming gives the record label the majority of a track's revenue. This comes from a model that applied to physical sales, where labels had overheads such as manufacturing, storing and transporting CDs, cassettes and vinyl. This leaves songwriters and publishers with the smallest share of revenue, even though they are vital to the creative process. Music creators and publishers are furious with this model. It's outdated and unfair because these overheads don't apply to digital music production. 3. Just three major music companies control the majority of the market Digital piracy and new technologies like streaming have disrupted the traditional music industry, and led to a state of play where three major labels now have a 75% share of the UK recording market. They also dominate music publishing, which is the part of the industry that deals with the rights to the words and music of a track. Jeeni's CEO & Founding Director Dr Shena Mitchell says, "Although technology has moved on, the approach is still the same as the bad old days, where streaming platforms act more like A&R agents and only select the music they like, dictating what listeners get to hear. At Jeeni we are very proud that our vision is based on democracy, where we give all artists the opportunity to post their videos and showcase their talent, for us to market them to a global audience". 4. 'Safe harbour' and copyright infringement 'Safe harbour' lets tech companies that host artist's content get away with being criminally and financially liable for copyright infringement. This allows users to consume music for free, and it creates a so-called 'value gap', because revenues for music from ad-funded services are significantly less than those from paid-for services. Here at Jeeni we refuse to take any advertising unless it's by an artist for their own tracks or services, and we make sure our artists retain all copyright and ownership of their own tracks. If you like the sound of what we do, then check out Jeeni's campaign HERE and join the list of supporters and celebrities who are flocking to the cause. You can invest from as little as £10 to claim your share, be part of the Jeeni success, and say NO to creative performers getting ripped off. *Capital At Risk

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