There’s a burgeoning business in, well, helping musicians to burgeon their businesses by tracking down unpaid or unclaimed royalties.
The latest company trying to help is a startup called Mogul, which has just raised $1.9m of funding from Wonder Ventures, United Talent Agency, Amplify·LA and Creator Partners – the latter being the investment fund owned by former SoundCloud CEO Kerry Trainor.
What is Mogul doing? It’s the latest example of a dashboard that aims to pull in data from all the places a musician is generating royalties, across recordings and publishing. But the pitch is also an “always-on audit” of their business to identify the gaps in their income.
Mogul says that with its early clients, it has already tracked more than $30m of royalties, and identified more than $3.5m of ‘previously unidentified revenue’ for those musicians. The company’s argument is that creators may be missing 10% of their earnings.
“The goal is to get as much money as possible into artists’ hands because if they thrive, so will we,” said CEO Jeff Ponchick.
