Today, we’re excited to announce that Rhapsody International has made a strategic investment in Dubset Media Holdings, Inc., which closed its Series B round of funding today. Dubset is a music technology and content acquisition company that allows DJs to monetize their mixes.
“This investment, the first for Rhapsody International, demonstrates our commitment to EDM. Through our work with Dubset, we’re supporting the development of alternative revenue streams for EDM artists and labels” notes Ethan Rudin, Chief Financial Officer, Rhapsody International.
DJs now dominate the music charts as both artists and producers. They create hundreds of millions of hours of performance content a year. Monetizing that content though has been virtually impossible. Dubset has overcome the challenges with their patent-pending technology and can now power new ecosystems and royalty structures in this $5 billion music segment.
“DJs want to be protected and ensure rights holders are properly compensated from any form of monetization. Dubset have actively engaged the biggest labels and artists in develop the technologies that resolve rights and are beneficial to all,” said Bob Barbiere, CEO, Dubset. “This is truly a win-win for the entire music industry…DJs, rights holders, and consumers.”
We’ll have more exciting news to share from Rhapsody and Dubset soon, so stay tuned.