A longtime recipient of customized financing from Sound Royalties, Too Lost will use this capital to help fund its next phase of growth in several areas. The company plans to scale internal staff and operations, expand its portfolio through catalog acquisition, support several marketing initiatives, and continue building robust technology solutions for independent artists and labels.
"Too Lost is an organization whose mission to empower and protect artists, performers, producers, and songwriters aligns perfectly with ours," notes Michael Bizenov, president of Sound Royalties. "Beyond creatives, we also strive to support the greater music ecosystem, and thereby the organizations that work with them. Sound Royalties and Too Lost exist to help music creatives propel their careers."
The two companies are also teaming up to offer royalty advances for independent artists through the Too Lost platform.
"This is a great opportunity to highlight our larger business relationships. In raising this capital, Sound Royalties has enabled us to retain full equity of our company while we continue building our catalog and operations - similar to how an artist would retain their masters when doing a deal with Too Lost and Sound Royalties," says Gregory Hirschhorn, CEO of Too Lost. “We are now more than ready to continue enhancing our technology and SaaS solutions for independent music creators.”
Founded in 2014, Sound Royalties pioneered artist-friendly royalty advances that allow music creatives to fund their career without giving up their ownership of their music. Its unique business model was designed to slash the traditional 100% recoupment structure, and instead enable creatives to receive ongoing royalty cash flow during the term of their advance. The company also provides tour financing, catalog sales support, bridge financing, and royalty stream evaluations.
“While traditional funding or financing methods like taking on investors or using a bank can make a lot of sense for some, the music industry has a life of its own,” comments Alex Heiche, CEO of Sound Royalties. “To analyze and predict the revenue and cash flow of royalty streams takes strategic and precise calculations, something Sound Royalties is well-suited for given our deep expertise in this area. We are thrilled about our ongoing relationship with Too Lost and will continue to bolster their growth in any way we can.”
About Sound Royalties
Sound Royalties, LLC is a specialty finance firm that helps music industry professionals fund professional and personal projects without ever taking ownership of their copyrights, allowing for ongoing royalty cash flow, and empowering creatives to choose from a variety of flexible pricing options. The company's core business is offering royalty advances of anywhere from $5,000 to the tens of millions of dollars. It does this by advancing artist, producer and songwriter royalties paid through music labels, distributors, publishers and PROs such as BMI, ASCAP, SESAC, SoundExchange and many more. Since 2014, Sound Royalties has worked with thousands of music industry professionals, from emerging artists and rising stars to GRAMMY Award winners, platinum recording artists and notable music industry executives, as well as music distributors and record labels in every genre. Learn more at https://soundroyalties.com.
About Too Lost
Too Lost is a music and technology company with software solutions for independent music creators. More than 75,000 musicians and labels use our distribution and publishing services to deliver, monetize and protect songs across the globe. Too Lost wants to give every music creator, at every level, everywhere, the access and tools necessary to build a successful business. As the most efficient and comprehensive digital infrastructure for independent artists, Too Lost can help you release your music to all the major platforms worldwide; monitor your sales, streams, and earnings with powerful trend and analytics reports; and even secure advance funding for touring, equipment or recording!
A proud member of The American Association of Independent Music (A2IM) and international digital-music licensing organization Merlin, Too Lost is headquartered in New York City, with additional offices in Los Angeles, Barcelona, and Reykjavík. Visit https://toolost.com for more information.