3tone Music Group announced today that it has raised a new investment of 50 million USD from Carlton James Group – a current supporter of the UK-based music business.
Describes itself as a “talent-focused music and media company” 3tone best known as an indie distributor and artist/label service company.
The Bristol, UK-based company offers unlimited digital distribution of independent artists to multiple streaming platforms for a single annual fee – making it the competitor people who like TuneCore and DistroKid.
In addition (for an annual fee that costs more), 3tone provides artists with premium services like marketing, advertising, syncing, and playlist recommendations.
3tone said today (September 6) that a new $50 million investment will fund further expansion of its distribution platform, while strengthening the company’s position in the “Web3 marketplace”. and media”.
Dean Roberts, CEO of 3tone Music Group, said ‘It’s time to put artists first; Our next phase will reinforce this for our customers both old and new.
“Success does not happen overnight, it comes with investment and nurturing time. There are no shortcuts to making headlines for tomorrow.
“This is where I really believe 3tone is emerging. The Carlton James Group is an integral part of our commitment to sustainability. “
Chris Borud, CEO of 3tone, said: ‘We’re excited to help provide artists, creators and their independent teams with the tools and resources to succeed in an industry. such a competitive industry.
“With the continued commitment from the Carlton James Corporation, the wheels are consistently moving and at remarkable speeds.”
The Carlton James Group is a privately held investment group with offices in the United Kingdom and the United States, whose other investment partners include i2 Media Group and Coretec Group.
It first got 3tone support in 2019 with $1.8 million credit limit.
“There are no shortcuts to making headlines for tomorrow. This is where I really believe 3tone is emerging. The Carlton James Group is an integral part of our commitment to sustainability. “
Dean Roberts, 3tone
“Investing in the music industry is an integral part of our strategy,” said Simon Calton, CEO of Carlton James Group.
“This industry has seen a drastic change since going online. It has been reshaped into a new dynamic vertical that needs dynamic leaders willing to adapt to an ever-changing environment while preserving their integrity with the artists.
“Our investment in The 3tone Band demonstrates not only our belief in Art but more importantly our belief in an artist-first approach to 3tone Music.
“We stand with 3tone Music as they help propel the music industry into the future.”
Dean Roberts, with over 25 years of experience in the music business, has worked with artists including Amy Winehouse’s team, using their valuable industry knowledge to assist with coordination. More than 20 million in sales of Back to Black.
Chris Borud, has over 15 years of experience in the music industry, starting out with live music. Borud has worked with various platinum-selling artists, including John Newman, Cee Lo Green, Josh Groban and Jason Derulo, to name a few.
The news of 3tone’s rise comes as others in the indie distribution space hit sizable valuations: DistroKid last year guaranteed $1.3 billion valuation following an investment from Insight Partners.
AWALa regulated service and distribution platform for indie artists, sold by Kobalt music group arrive Sony Music Group for $430 million last year. The agreement is clean up by the UK Competition and Markets Authority (CMA) in March 2022.Worldwide music business
