Warner Music Group (WMG) today (Oct. 5) announced WMG Boost, a seed-stage investment fund aimed at supporting entrepreneurial growth and innovative thinking in the music industry.
The multimillion-dollar fund will invest in early-stage businesses within and adjacent to the recorded music business. From AI, to blockchain, virtual reality, mobile gaming, voice, and more, WMG Boost will cover the full spectrum of ways that technology intersects with the music industry, both across recorded music and publishing.
“WMG Boost is all about nurturing the diversity of ideas within the music ecosystem, especially at this meeting point between music and tech,” said Ole Obermann, Chief Digital Officer, Warner Music Group. “This fund enables us to support thoughtful entrepreneurs, learn more about emerging business models, and invest in the creation of more opportunities for artists.”
In addition to seed funding, portfolio companies will have access to WMG’s unique music industry expertise as they develop their products.
Warner Music Group has a track record of investing in pioneering start-ups, including Landr and Pexeso and is a founding member of Techstars Music.
Start-ups can learn more about the fund and submit business plans for consideration at wmgboost.com.
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