Verswire has introduced their forthcoming publishing arm set to launch in 2024 in partnership with Kobalt Music Group.
Verswire was launched in spring 2022 as a VC mannequin various for signing artists, shepherded by Sherry Saeedi, Mark Hoppus, Nick Lippman, and Pete Wentz. The corporate just lately raised $12.3 million in Seed and Collection A funding, led by E.O.A. Productions and idobi Radio. Taking part traders embody Kevin Lyman and Gus Brandt.
The corporate says its new publishing arm and this substantial funding spherical will “usher within the subsequent part of Verswire as we proceed rising our roster of artists and bolster the companies and particular person investments we dedicate to them.” So what’s subsequent up for Verswire?
The alt-rock duo Girlfriends (Travis Mills & Nick Gross) have joined the file label roster immediately, marking the corporate’s second artist signing. “We’re ecstatic to have fun our second 12 months as an organization with the singing of Girlfriends, and can’t wait to do unimaginable issues collectively in 2024 and past,” provides Saeedi in regards to the signing.
The information comes on the heels of the breakout success story of Magnificence College Dropout, Verswire’s debut file label signee. Since final 12 months, the renegade pop band has grown their streams from 4 million to over fifty million—Spotify streams up 600% and Apple Music streams up 400%.
Verswire is led by artists for artists and adopts a shark tank ideology to behave as a enterprise capital fund for artists as entrepreneurs, tailoring every with a customized funding that features funding, sources, instruments, A-list mentoring, assist from distinguished music executives, and an ecosystem to personal and function their companies whereas permitting them to maintain majority possession of their masters.
Serving as a growth incubator that each rising and established artists alike can name dwelling, the corporate brings a modernized various to the music business.