Core music industry funding experienced notable growth in November 2024, with a 27% year-over-year increase despite broader market challenges. The month recorded five funding rounds totaling $46.60 million, compared to $36.80 million in November 2023 (excluding industry-adjacent raises).

Key November 2024 Highlights:

• Largest round: Trolley's $23 million Series B
• Smallest round: Conduction's $250,000 pre-seed funding
• Average round size: $9.3 million (nearly identical to November 2023's $9.2 million)

Year-to-Date Performance (January-November 2024):

• Total disclosed capital: $3.21 billion
• YoY decline: 68% compared to 2023's $10.08 billion
• Core industry funding decline: 35% YoY (excluding industry-adjacent capital)

Major 2024 Funding Contributors:

• Concord's $850 million ABS
• Iconic Artists Group's $1 billion capital raise
• These two raises alone represent 58% of total industry funding
• Additional significant raises: Create Music Group ($165 million) and TickPick ($250 million)

Market Outlook:

• Ticketing sector may experience slowdown due to 2024's substantial investments
• Catalog investors appear well-funded for current operations
• Recent monthly growth could signal potential recovery trending into 2025
• Industry-adjacent funding, particularly in AI, continues to influence overall metrics

The data suggests a possible stabilization in music industry funding, though the market remains significantly below 2023 levels. The concentration of large raises among a few major players indicates potential opportunities for broader market participation in 2025.

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