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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05
Jun

Exploring the Rivalry and Respect between Paul McCartney and Brian Wilson

by Kelli Richards, Jeeni MD USA Click HERE to visit or return to jeeni.com A guy named Jeffrey Stillwell has put together a great video essay focused on the so-called “rivalry” between the Beach Boys and the Beatles; and in particular the relationship between Paul McCartney and Brian Wilson. They were most certainly inspired by each other creatively and each wound up bringing out the best in each other as both are quick to confess. When “Pet Sounds” came out, it blew the minds of the Beatles, and that was a big catalyst to what would become “Sgt Pepper” in terms of musical experimentation — both are still such iconic albums that it’s hard to believe it’s been 50 years since each was released. This video biopic also chronicles the relationship and interactions between Paul and Brian over the decades, and ultimately the deep respect they have for each other —and it’s worth investing the 20 minutes to watch it. There’s also a personal tie for me here in a couple of ways. As a teenager, I was hugely influenced by both groups and in particular the Beatles; I became a life-long Beatle-ologist as a result (as a hobby). It also led me to a career in music & music tech (initially wanting to be a record producer having immersed myself in the techniques of production) — first as young A&R exec at EMI/Capitol, and then when I launched and ran Apple’s earliest focus on music and entertainment during my lengthy tenure there (where among my responsibilities, I had to deal with the fall out of the lawsuits between Apple Inc and Apple Records – the Beatles’ company). I also parlayed that early production passion into being a talent producer of award shows and celebrity fundraiser events over several decades. One of the events I was asked to co-produce was called “Adopt-a-Minefield” in conjunction the with the United Nations. Paul’s then-wife, Heather Mills, was heavily involved in the cause, and she organized these annual events (I believe there were five) featuring Paul and his band, and another major artist. I co-produced the event in 2002; Paul had invited Stephen Stills and Brian Wilson to perform with him — and the event was hosted by Jay Leno. The event took place in LA, and was a high-ticket event; I believe it was limited to 500 in attendance. I had some interesting conversations and interaction with Paul that evening, who was determined to ensure all the details to do with the production of the event were flawless and well-thought-out. For the 500 of us in attendance, it was magical to watch Paul and Brian doing a duet on both “God Only Knows”, a favorite of Paul’s, and on “Let It Be”. It’s too bad it wasn’t taped so it could be streamed. There can be no doubt of the creative genius and respect these two have for each other’s music and as individuals. As a final aside, Paul and Brian were born just two days apart in June 1942; geniuses in good company from the very start! (There’s a cute clip in the video essay of Brian calling Paul on his birthday and singing a verse from Paul’s “Birthday” song). Click HERE to visit or return to jeeni.com

04
Jun

A $0.003 reward?! We’re Twitching at the thought!

Twitch has always been popular amongst the gaming community. It was created initially in 2011 as a platform for gamers to use in order to live stream as well as broadcast live Esports events and competitions and has since retained on average 15million daily users. With so much more of our time spent online due to the Covid-19 pandemic, Twitch has expanded in regard to what they broadcast and live stream: talk shows are growing in popularity as well as live streamed music to name but a couple. As the date for the resumption of normality approaches and with it the reopening of concert halls and live shows, one can speculate as to what will happen to those artists that have decided to make use of these live streaming platforms as a source of income. Twitch users reportedly spend three times as much time on the platform as on Sportify and YouTube so the potential for it to be a very lucrative platform for music makers and artists is what has been looked into by Will Page, an economist who runs Tarzan Economics. He worked alongside various teams in order to understand how live streaming and live music may co-exist in the future. “Live streaming won’t go away when live music returns.” -Will Page In 2002, one of the first music streaming services Rhapsody, offered a $9.99 monthly price which is the same as what we see today for similar music streaming services. What is provided is also pretty much the same as what was offered in 2002; fans remain largely disconnected from their favourite artists, they are unable to offer direct compensation to creators, and ‘cross-usage’ occurs frequently as a listener is often subscribed to multiple platforms. “None of the on-demand streaming services that have since sprung up enable immediate engagement, this is a relic of the music industry of old.” -Will Page User engagement is something that both Twitch and Jeeni offer, and not only does it allow the fans to be more involved with the artists they love, but it allows the artists to be fairly compensated, a huge issue which is now being petitioned against by the Broken Record Campaign. See our last blog post for more information and ways that you can support the campaign. According to Will Page, the typical music streaming model has approached the way in which artist are compensated in one way: “the platform aggregates all the streaming data and revenues from a specific market and product over a specific time period, divides an artist’s share by that sum, and allocates revenues proportionately. Get 1% of all the streams, and you’ll get 1% of all the money. This has spurred much debate within the industry, as heavy streamers are effectively subsidised by light streamers, or as Quartz controversially put it: Your Spotify and Apple Music subscriptions pay artists you never listen to.” In essence, the modelling simply just isn’t fair, and neither rewards the artists or their fans for supporting them. The way in which Twitch brings in money, however, varies across three methods similar to Jeeni: Creator Channel Subscriptions, Bits allow users to support creators directly on the service, and advertising. Will Page made a comparison between creator earnings on Twitch, which average at $0.15 per-hour-per-user, with that of global streaming services at which the rate per-stream is set at roughly $0.003. By taking the $0.003 per stream and multiplying by 17 (assuming a song lasts 3 minutes this equates to an hour of listening time), then applying an average 20% royalty rate, this results in a creator’s “revenue-per-hour listened” at just $0.01. My jaw dropped, did yours? Twitch has proved it can monetise over 10 times better than music streaming, however this only applies to creators’ most loyal fans that tune in on a regular basis. "If you keep the full $100 of each true fan, then you need only 1,000 of them to earn $100,000 per year." -Kevin Kelly, The Technium, 2008 Do you want to spend hours watching your favourite gamer and at the same time, fairly compensate and reward them for their time and effort? Well of course. What Twitch does for gamers, we want to do for music makers and artists here at Jeeni. Look out Twitch, we’ll meet you at the finish line.

10
Mar

Daisy Chute – 'Songs of Solace' EP Review

Multifaceted singer/songwriter, Daisy Chute’s newest project, ‘Songs of Solace’ is a warm, comforting collection of acoustic music, powered by sentiment and emotive memories. According to Daisy, The EP walks the listener through the "beginning, middle and end of a relationship”. Cleverly, the EP acts not only as a narrative describing the need for solace during a relationship, but also as the solace itself. The tone and style of ‘Songs of Solace’ couldn’t have been timed better. The soothing instrumentation found in the twinkling guitars, legato strings and tender vocals provide unmistakably autumnal compositions. The burgeoning seasonal blues also coincides well to the comfort that many could find in this project right now. The opening track, ‘Secondhand Heart’ acts as an almost sorrowful prelude to the story Daisy is about to tell, like something you might see at a play to set the audience up for the tragedy they’re about to experience. It’s one of the most effective introductions I’ve ever heard in such a short project. Another highlight on the project is the inviting ‘I’ll Drink for You’ which subtly reveals Daisy’s classical background in music theory and understanding as the melodies and rhythms leap and pause around in unexpected yet totally satisfying and accessible ways. I hope Daisy isn’t sick of hearing the comparison but folk legend Joni Mitchell can’t help but come to mind when Daisy demonstrates her brilliant range in pitch as she does on this track. ‘Meet In The Middle’ holds a certain delicacy and familiarity reminiscent of Laura Marling’s ‘Song For Our Daughter’ album from last year. As a matter of fact, Marling could do with taking a page out of Daisy’s book in terms of expanding her instrumentation. The track ends the project in a similar yet more optimistic tone to the introductory track, ‘Secondhand Heart’. The track swells and features the full band before fizzling out with a spacey hum of the instruments. Perfectly produced, each component shines together to make a well-rounded and polished example of modern indie folk. If you need some warmth this Autumn, Daisy Chute’s ‘Songs of Solace’ is out now. How can Jeeni support artists like Daisy Chute? 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 Daisy Chute’s page on Jeeni: https://jeeni.com/?s=daisy+chute

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