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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10
Jun

Facing the Broken Music Industry.

By Adam Cowherd @ AmplifyX.com 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] If you start looking deeper into the music industry, one of the first things you’ll discover is how broken it is. Artists are the nucleus of the business, but somehow they’re the individuals left with no ownership of their Intellectual Property (IP), inhibited creative freedom, and only a sliver of the earnings. There are so many entities involved in the value chain of music that it has created a convoluted industry structure that lacks equality and transparency. When we break down the mechanics of the music industry, 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? Signed artists have fans. They do not have a majority of royalties, ownership of their masters, or creative freedom. Artists have historically been enticed to join record labels as a way to grow their popularity, because major labels can provide global brand recognition. But the music industry is in the business of making a profit — not in the business of freebies. The artist’s growth may be guaranteed, but not their wealth. Take Thirty Seconds to Mars for instance: after multiple platinum records, they were still millions of dollars in debt to their label. [4] This is a result of the artist being forced to pay the label back for cash advances. Although advances may seem extremely alluring, many don’t realize how hard these loans will be to recoup from their small slice of royalties. Artists thriving off of their album sales are the exception, not the rule. This recognizable gap in income has inspired a large number of artists to start challenging the status quo of record label contracts. Artists today have more tools and resources to build their career — and wealth — independently. Traditional services formerly tied to record labels, like recording, distribution, and promotion, are becoming commodified. Also, modern artists have a wide range of social media platforms to engage listeners on, from Instagram to TikTok to Triller. Artists can grow their fame and find new fans on their own terms—retaining their rights and independence. Evaluating the industry today, music spending is at an all-time high. Goldman Sachs predicts we will have over 1.1 billion people on paid streaming platforms by 2030, generating over $130 billion in music industry revenue. [5] By pursuing alternative ways to release music, artists can take a larger cut of the profits while retaining ownership of their IP and a majority of royalties. The industry is projected to experience massive growth over the next decade. Artists should reap the rewards.

04
Jun

Steve Salvari is backing Jeeni

Steve Salvari, the London-based music producer, singer, song-writer and musician has played an integral part in shaping the British musical landscape, and his work is cited as vital reference points in the chronology of British Pop, Soul and Jazz Funk. His CV reads like a Who’s Who of musical luminaries, working with artists from a broad spectrum of genres, including Chaka Khan, Robert Palmer, Barry White, Billy Ocean, Lulu, Aswad, Jonathan Butler, Natalie Cole and Omar. Now Steve has joined Team Jeeni as our latest ambassador and mentor, and he’s passing on his experience and support to the new generation of Jeeni artists. Steve says, “Many others have tried and failed to support unsigned artists achieve their dreams, but the difference with Jeeni is the strength of the management team and their experience and connections in the industry. The Jeeni team are straight talkers, very focused, fully transparent with an unstoppable attitude to make Jeeni a huge success.” Welcome aboard! Steve Salvari

07
Dec

Amba Tremain - 'Baby You're Gold' Single Review

Amba Tremain’s new single ‘Baby You’re Gold’ is a graceful, yet energetic addition to her family of Soulful songs with heavy R&B and Ska influences. Any Amy Winehouse fan would very much enjoy the Soulful, Ska aura of the song, starting with a dreamy intro featuring chords on a Rhodes type electric piano and a classic Ska guitar part on the offbeat. The harmonizing, tremolo backing vocals paint a beautiful vibration in your head. The chorus features a dramatic build to a loving call and response between Amba and the backing singers. Amba’s voice is a powerful instrument, used here in a tender way through her affectionate lyrics to display a kinder side. The vibrato keys throughout the chorus help synergize the bright, sunny tone, alongside the higher end magical sounding key scales. A breakdown into a relaxing Ska middle 8 consisting of engaging guitar delay and a smooth bassline prepares you for a last booming chorus. The structurally brilliant song finishes with a sharp, exuberant ending. Amba has certainly got the knack for writing engaging and well written music, here she has grown her range with an undeniably catchy and jubilant song. Check Out Amba Tremain's BRAND NEW single 'Baby You're Gold' here: https://jeeni.com/amba-tremain-baby-youre-gold/ How can Jeeni support artists like Amba Tremain? JEENI is a multi-channel platform for original entertainment on demand. We’re a direct service between creatives and the global audience. • We give creatives, independent artists and performers a showcase for their talent and services. And they keep 100% of everything they make. • We empower our audience and reward them every step of the way. • We promise to treat our members ethically, fairly, honestly and with respect. • Access to artist liaison and a supportive marketing team. Check out Amba Tremain's Jeeni page: https://jeeni.com/?s=amba+tremain

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