Nextfin independently rates Jeeni 77% investment opportunity.

Jeeni Blog

Helping the next generation of talent to build a global fanbase

Nextfin independently rates Jeeni 77% investment opportunity.

This morning Jeeni were independently rated by Nextfin and our pitch was rated 77% overall. Management rated 68%, Product 76% and Investment Opportunity 88% with 80% being their gold and highest rating. If you would like to see full report check out our pitch rating here:

https://lnkd.in/ecq6xG3

Jeeni, the social music platform that brings artists closer to their fans – and shares revenue ethically – is poised to become the first Portsmouth-based start-up to go on Crowdcube for its third round. Jeeni overfunded in 6 days. If you want to see our pitch click HERE. We have 11 days left to invest.

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’re standing by to raise £100,000 for 2.4% with a pre-market valuation£4M,” says Jeeni founder Shena Mitchell. “And while we are already negotiating with several major investors, the beauty of Crowdcube is that the 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 now than ever 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."

When the financial backing has been secured and we go live, 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 needed more than ever.

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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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.”

05
Jun

Black equality - in and out of music.

by Cherie Hu. I normally open up these articles with a standard “Happy [day of the week]!” greeting, but that feels inappropriate today.I was going to publish a “normal” newsletter earlier this week featuring my latest music-tech articles, but found it necessary to take a backseat in service of much more important conversations happening around the world. I wanted to share some thoughts on the conversations and realizations I’ve had with people in music this week about the responsibilities that we have, both as individuals and as a collective industry, to do better.Respect to everyone who took time off on Blackout Tuesday. I don’t intend on publishing my opinion on how the day went, because I don’t see that as my role and frankly have a lot more researching and listening to do to better understand all the issues at hand.I personally decided to continue working on Tuesday, but with a focus on gathering data and evidence that could point to concrete areas where the music industry could improve with respect to Black equality. I elaborate on them below with some additional context.The issues that are top of mind for me focus on two actions that all of us can start doing right now in service of Black equality, both in and out of music: Following the money (economics), and tracking what you see (visibility). 1. Only 8% of corporate music execs are Black. Lack of racial diversity in the music industry’s corporate and executive ranks is something that many of us feel intuitively. But we actually know surprisingly little, in terms of being able to point to concrete numbers.So, on Tuesday, I got to work. I wrote down the names of all the board members and C-Suite executives across the top three record labels (Universal Music Group, Warner Music Group and Sony Music Entertainment) and their biggest imprints, as well as the top two concert promoters (Live Nation and AEG).There are 61 board members on my list. 53 of them are white, and only five of them — or 8% of the total — are Black: Jon Platt (Chairman/CEO, Sony/ATV Music Publishing)Nadia Rawlinson (Chief Human Resources Officer, Live Nation)Maverick Carter (Board Member, Live Nation)Jeffrey Harleston (General Counsel and EVP of Business & Legal Affairs, Universal Music Group)Kevin McDowell (EVP & Chief Administrative Officer, AEG). If we expand our scope to include President and Executive Vice President (EVP) roles as well, the percentage does improve slightly. The total number of executives on my expanded list with President/EVP roles increases to 121 people. 92 of them are white, while 22 (around 18% of the total) are Black. All the additional Black execs on this list work at label imprints, specifically RCA Records, Epic Records, Motown Records, Island Records and Atlantic Records. Contrast this to what we see in the public-facing artist landscape: The USC’s Annenberg Inclusion Initiative found earlier this year that underrepresented races and ethnicities actually over-index on the list of top-charting performers compared to the general U.S. population (56.1% versus 39.6%, respectively). The relative absence of Black leadership in the upper echelons of an industry like mainstream music that profits off of developing Black culture and talent is clearly a problem. A similar problem pervades the music industry: We can’t just put Black executives into “urban” roles.As in politics or any other part of business, it’s difficult to effect change around these problems without measurable benchmarks. So consider this a call for music-industry companies to start seriously measuring, and openly sharing, the state of their own racial equity.Trade body UK Music published a diversity report in 2018 covering both ethnicity and sex, which I remember sparked a lot of helpful conversations on a global level. The RIAA has yet to publish any aggregate diversity statistics about its own constituents in the U.S. This needs to change as soon as possible — which requires collective acknowledgement from major music companies that their internal whiteness is a serious issue that needs to be publicly addressed and resolved.Music companies should also take a tip from Google’s Diversity Report and measure not just the absolute number of Black employees, but also hiring and attrition rates across demographic groups. 2. The flow of money is moral, not just financial. It’s often said in politics, and must also be said in business: Budgets are moral documents.You can’t talk about anti-racism and Black inequality in music without talking about how the money flows. But don’t listen to me. Listen to the conversations that Black artists and music-industry professionals are having about what steps need to be taken after Blackout Tuesday — almost all of which involve improving economic equity and opportunity.Every Black person you meet in the industry, and probably many non-Black people as well, will likely have a story about an emerging Black artist they know who got thrown into disproportionately unfavorable contracts, and who had limited access to resources like lawyers, business managers and general industry education that could help them better evaluate deals.Going beyond anecdotes and actually gathering evidence of this rampant phenomenon is difficult, because it requires navigating a complicated web of NDAs and political relationships. But it’s also the first place people are turning in their demands for change.Nothing brings the issue of economic equity to light more than the surreal timing of Warner Music Group’s IPO, which launched the day after Blackout Tuesday.I’m not calling out Warner Music specifically as the biggest culprit in the industry, nor am I saying that an IPO is inherently racist. I’m thinking about more systemic issues in how this money will flow. All of the major label’s $1.9 billion IPO money will go to Blavatnik, an older white man who donated $1 million to President Trump’s inauguration campaign, and to a handful of individual, mostly white Warner Music executives who already had shares in the company. None of it will go to Warner Music on the organizational level, and so none of it will go to the artists whose back catalogs make the label such an attractive investment to Wall Street in the first place.Birdman Zoe, who manages the likes of Taz Taylor and Nick Mira, recommended that WMG shares be included in artist deals, not just a cash advance. Many others have recommended this in private conversations with me as well.In general, Black people's call for a serious, internal reflection on how much revenue from Black artists’ catalogs the labels are keeping for themselves should not be ignored. Also, as Sabri Ben-Achour puts it in a recent episode of Marketplace: “The stock market reflects the corporate economy of the future, not the real economy of today.” Hence why a billion-dollar IPO launching the day after a series of discussions about improving economic equity for Black artists feels so strange. It’s all connected. 3. We need to take equity in online events more seriously. Livestreaming as a format and paradigm is now top-of-mind for the music industry as the live-events sector continues to face an uncertain future. In general, video, not lean-back audio, is now the leading indicator of music culture. So we need to take the equity of what we see in these videos seriously.One area where I know many of you reading this can have an immediate impact is making virtual festival lineups more diverse.Several of the highest-profile virtual EDM festival lineups from the past few months — including Room Service Festival, SiriusXM’s Virtual DisDance and the first edition of Digital Mirage — were only 5% to 8% Black, and around 70% to 80% white. (The gender split for these three festivals also skewed 84% to 95% male.)It hasn’t all been doom and gloom, as there have been many examples of diverse lineups as well — from Bandsintown’s net.werk festival, which was curated by Dani Deahl and featured primarily women and people of color, to Global Citizen’s televised One World: Together At Home event, whose lineup was 35% celebrities of color and roughly split down the middle on gender.Overall, you would expect virtual festival and showcase lineups to be more equitable than IRL events, given that promoters have access to a much wider pool of talent without the logistical burden of having to fly everyone to the same physical location. But recent events have shown that this increased equity is not and will not be guaranteed, unless everyone involved draws a line, speaks out and pledges to do better.Artists with enough leverage need to be selective and turn down opportunities on lineups that are not diverse. And of course, promoters need to put in the work to diversify their curation and talent search in the first place.There also needs to be more collective action and accountability. The PRS Foundation’s Keychange initiative successfully brought together over 250 international music companies — including labels, festivals, conferences, symphony orchestras and more — to pledge towards achieving or maintaining a 50/50 gender balance in their programming, staff and/or artist rosters by 2022. A similar rally needs to happen for racial equality as well, especially for Black people in a time where so many Black artists are shaping popular culture.I don't have an answer for what the benchmark should be, but the fact that one doesn't exist or is not being measured is in itself an issue. Again, measuring and improving surface-level visibility certainly isn’t the only thing necessary for systemic change. But anything less feels insufficient. *** Here at Jeeni HQ, we think that Cheri is a brilliant writer and clearly knows her stuff so we will be curating her work for all our members. #jeeni #unsigned #musicians #performers #cheriehu #water&music #blacklivesmatter

04
Feb

Calling All Graduates Looking For Work, Jeeni Officially Partners With Gradfuel to Create 654 New Jobs!!

Kickstart is a governmental scheme, introduced by Rishi Sunak as a response to the pandemic and the difficulty it created in employment for young people. Since its introduction last September, the initiative has boosted the careers of over 100,000 young people in the UK. This scheme has provided hope for young people who are trying to find their passion, career and purpose at a time when they need it most. Jeeni has been working with our specialist partners, Gradfuel who are consultants for the Department of Work and Pensions, which is where the Kickstart grant funding comes from. It’s a great opportunity for companies like Jeeni to bring keen young graduates on board for a minimum of six months, and scale up the business. Also, there’s no financial risk, with over £8,000 worth of grant money to support each young person taken on board. Gradfuel has worked with over 20,000 graduates and have been praised by companies such as ‘Fethr’ and ‘Thursday’. Apply to Gradfuel here: https://careers.gradfuel.co/kickstart-application-j/ That's why Jeeni is so proud to be making good use of the Kickstart scheme with Gradfuel, to train, support and build the portfolios of people aged 16-24 and on universal credit. The Kickstart scheme can be essential for both employers and employees, because young companies can build a workforce at no cost at all to them, and young people get paid positions in the industry of their passion. The Government provides the grants to cover 100% of wages and national insurance contributions for well-qualified, pre-screened young workers on universal credit. The positions span across 6 months for up to 25 hours work a week and you receive a £1,500 cash injection into your business for each new person you take on with Kickstart. Although the governmental Kickstart scheme itself provides this crucial helping hand for companies and graduates, websites like Gradfuel are vital in guiding those graduates to the perfect Kickstart role for their careers. Gradfuel is a mediator between the Kickstart scheme and those it was designed to help. They provide an interpersonal and proactive connection to young people looking for a career path and “matches you with the perfect graduate jobs”. As of right now, Gradfuel have carried out over 100,000 conversations with their clients about their future and career opportunities. The pool of possibilities after education can seem endless and overwhelming, so a company like Gradfuel that takes you by the hand and leads you to a company that needs you as much as you need them is an extraordinarily valuable service. Our partners, Gradfuel are the experts in the market, and have raised £18.7m in Kickstart grant funding so far. Gradfuel have had a 99.5% success rate in their applications, against the market average of 22%, supporting over 1,400 companies to process their Kickstart applications. Jeeni can personally attest to the effectiveness and value of using the Kickstart scheme through Gradfuel. Zak Ahmed, Jeeni’s HR specialist had this to say about the opportunity, “The Kickstart Scheme has helped me gain the vital experience I need as a recent Masters graduate. I’ve found a very meaningful role here at Jeeni, where I’m progressing quicker than I could’ve imagined!” Zak Ahmed, HR Manager Ella Venvell used Gradfuel to find her Kickstart position as Jeeni’s Artist Liaison and Marketing Leader, “The kickstart scheme has given me an invaluable experience which has helped me learn about the professional world as well as given me the time to develop myself and my portfolio.” and with regards to Gradfuel, Ella said that it’s “helped me find a job doing what I love, and am hoping to do as my lifetime career.” Ella Venvell, Marketing Leader Past Marketing Executives, Rebecca Allen and Kate Stewart mention how invaluable their kickstart positions at Jeeni have been for them in her Inside Story interviews. Kate said, “In terms of kickstarting my career, if you will, my time at Jeeni has been so helpful, I’ve been provided with lots of training opportunities and learned lots of transferrable skills”. Rebecca also reflected on the skills that she was able to hone from her kickstart role at Jeeni, “I definitely think I’ve developed a knowledge of social media. I was also able to complete a lot of training courses, I did one on SEO and Google analytics.” Available here: Rebecca Allen, Kate Stewart. Among the 655 new roles available across England include; 116 sales positions, with a focus in London, Manchester and remote situations, 143 roles in Marketing, also for people based in London, Manchester or remote, 118 hospitality roles particularly in London and Birmingham, 121 admin positions focused on remote and London. There are also 31 roles for those specialised in graphic design such as Photoshop and Adobe for remote and London-based applicants. IT and data have 81 roles for London-based and remote situations and finally, there are 25 roles in finance, also for London and remotely working applicants. Don’t miss out on these opportunities and visit here for more information. https://grants.gradfuel.co/kickstarter-landing-c/ Apply to Gradfuel here: https://careers.gradfuel.co/kickstart-application-j/

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