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Dubset Media Holdings Inc. Announces Completion Of Its Series B Round
DUBSET MEDIA, A RIGHTS MANAGEMENT AND MIX MUSIC CONTENT DISTRIBUTOR, HAS CLOSED A STRATEGIC ROUND OF FUNDING LED BY RHAPSODY INTERNTATIONAL
NEW YORK, May 6, 2014 – Dubset Media Holdings, Inc., has announced it has closed its Series B funding from a strategic group of music and technology investors led by Rhapsody International, parent company of leading streaming music services Rhapsody and Napster. Through its Series A and Series B investors Dubset Media now has an investor and partner network representing one of the world's largest music services, millions of music listeners, and hundreds of millions of mobile subscribers spanning more than 30 countries.
The company also added key members to its Advisory Board including hip-hop personality and Hot 97 program director Ebro Darden, leading artist/DJ management executives including Bruce Flohr (Red Light Management), Mark Gillespie (Three Six Zero Group), Dean Wilson (Three Six Zero Group). These experienced and highly connected industry veterans have begun directing the company in key areas of product development, content acquisition, and distribution.
Dubset recently completed two-year trials of its patent-pending MixSCAN™ rights management platform which identifies, registers, resolves rights and reports royalties for all forms of mix content. The company has ingested and registered over two hundred thousand mixes from the world's top DJs allowing those artists to stream their content on its distribution platform (www.Thefuture.fm).
“Developing enabling technologies for the Dance/EDM space are a core area of expertise for the company," says Bob Barbiere, CEO. "Combining The Future FM distribution platform with MixSCAN’s technology layer establishes a turnkey solution for music services seeking to extend their content library and enhance the listener experience. For the first time a platform exists that can provide labels, publishers, music services, and artists with the data required to handle rights and royalties on mix content in a highly granular and scalable way. The excitement and interest we are getting from music services and DSPs globally is incredible and an investment from an industry leader, like Rhapsody International, validates the performance and potential of the company.”
DJs now dominate the music charts as both artists and producers. They create hundreds of millons of hours of performance content a year. However, due to rights identification and clearance issues, monetizing that content has been virtually impossible. Dubset has overcome those challenges with MixSCAN™ and can now power new ecosystems and royalty structures in this multi-billion dollar music segment.
"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.
“Electronic Dance Music is a multi-billion dollar industry that continues to grow exponentially each year. DJs not only want a way to properly share their mixes with fans, they want to ensure rights holders are properly compensated from any form of monetization via those streams. Dubset has actively engaged the largest labels and artists in developing the technologies that will now be deployed to resolve rights, creating a win-win for the music industry," offers Barbiere.
To learn more about Dubset Media, please visit www.dubsetmedia.com. To learn more about Rhapsody and Napster, please visit http://news.rhapsody.com/.
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About Rhapsody International
Rhapsody International is parent company of leading streaming music services, Rhapsody and Napster. Now available in 33 countries across the US, Europe and Latin America, Rhapsody and Napster give members ad-free access to more than 32 million songs. Whether they're listening on their phone, at home, at work, or in the car, Rhapsody and Napster go where they go. Our expert team of editors creates a curated music experience that's easy for members worldwide to gather and enjoy new original content including videos, playlists, reviews, and radio stations -- anytime and anywhere. Follow @Rhapsody on Twitter and keep up with the latest on the Rhapsody Facebook page.
About Dubset Media Holdings, Inc.
Dubset Media is a music technology and distribution company. Its MixSCAN™ technology enables the registration, rights resolution, royalty reporting, and revenue clearing required for proper streaming and downloading of mix music content. Dubset Media’s Thefuture.fm website and mobile app are turn-key mix content distribution platforms available for deployment by music services and other DSPs interested in offering their listeners the world's best mix music content created by the industry's top DJs.
For more information about Dubset Media Holdings, please contact: