Managing royalties and rights can be a major challenge for artists. With the increasing number of record labels and streaming platforms, it can be difficult for musicians to track where their music is being used and how they are earning money from different sources. Mogul aims to simplify this process for artists by helping them track their income and identify missed revenue opportunities.
The company
Mogul has secured $1.9 million in seed funding from Wonder Ventures, United Talent Agency, Amplify.LA, and former SoundCloud CEO Kerry Trainor’s Creator Partners. Co-founded in 2023 by Jeff Ponchick and Joey Mason, former executives at SoundCloud, the company was inspired to address the issue of missed royalty income for musicians.
During their time at SoundCloud, Ponchick and Mason noticed the challenges musicians faced in receiving their owed payments, sparking the creation of Mogul. By consulting with artists from various backgrounds, they identified common issues and set out to provide a solution.
Currently in private beta with 250 artists, Mogul has already tracked $3.5 million in previously unidentified revenue.
What does it do?
Mogul offers an overview of artists' income sources, including mechanical royalties, public performance rights, and neighboring rights. By connecting to platforms like Audiomack, District, FUGA, and DistroKid, artists can monitor royalties from various sources.
The company also analyzes raw data provided by music distribution sources to identify any missing income owed to artists. Mogul estimates that artists miss out on nearly 10% of their lifetime earnings due to issues with copyright registration.
Making money
To generate revenue, Mogul is exploring a SaaS model offering auditing services and features like royalty anomaly detection. The company has piloted a model where it takes a percentage cut from artists' recovered royalties, with plans to finalize the model based on artist feedback.
The question of royalties
With the rise of short video platforms and the increasing use of artists' work, there is a growing demand for fair royalty distribution. Legislators in various countries, including the U.S. and the EU, are looking at ways to ensure artists are paid fairly for their work.
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Investors see Mogul as a valuable resource in navigating the complex world of royalty tracking and distribution. The platform aims to streamline the process for artists and provide transparency in their earnings.
Tools like Mogul offer promise for musicians looking to collect their rightful earnings. Establishing trust with artists and simplifying the platform interface will be crucial to Mogul's success in helping artists navigate the intricate landscape of royalty management.
