LONDON, UK (CelebrityAccess) – UK-based startup Instrumental has raised $4.2m in an aggressive bid to expand its digital A&R platform.
Founded by ex-President of Warner Music Entertainment Conrad Withey, the company plans to use the funding (which was led by London-based digital venture builder, Blenheim Chalcot, and included investment from ex-CEO of MTV International Bill Roedy) to enable “faster identification of high potential, emerging artists” and to “build better and better products for our existing and future clients.”
Instrumental’s core technology is something called TalentAI, which monitors billions of API data points each day from sources such as Spotify, YouTube, Instagram and other social platforms to track trends and make recommendations on emerging talent to the A&R departments of various record labels, publishers, and promoters alike.
Having first made headlines in 2016 after the company discovered and delivered Top 20 hit “Dancing On My Own” using TalentAI, Instrumental has proven a valuable tool within the new music business model.
Since the beginning of 2018, licenses have been secured with all three majors (Warner Music Group, Sony Music Entertainment, and Universal Music) along with a number of indie labels internationally.