The world of royalties and rights management can be a daunting challenge for artists, but Mogul is on a mission to change that. The company has recently secured $1.9 million in seed funding from Wonder Ventures, United Talent Agency, and Amplify.LA, as well as ex-SoundCloud CEO Kerry Trainor’s Creator Partners. Founded in 2023 by former SoundCloud executives Jeff Ponchick and Joey Mason, Mogul is dedicated to helping musicians track unclaimed royalties and missed revenue opportunities.
Key Takeaway
Mogul, with its innovative approach to royalty tracking, aims to empower musicians by ensuring they receive their rightful earnings and addressing the complexities of the music industry’s revenue distribution.
The Company’s Vision
Mogul’s co-founders, Ponchick and Mason, identified a common issue among musicians – the struggle to receive the full compensation they are owed. Through in-depth conversations with artists from various backgrounds, they recognized the need for a solution to streamline royalty tracking and ensure that artists are fairly compensated for their work.
How Mogul Works
Mogul provides artists with a comprehensive overview of their income sources, including mechanical royalties, public performance rights, and neighboring rights. By connecting to various music distribution sources such as Audiomack, District, FUGA, and DistroKid, artists can effectively monitor their royalties from different platforms. Mogul also conducts automated “desk audits” to identify any missing income from the rights held by the artists.
The Revenue Model
As Mogul explores different revenue streams, it is introducing a SaaS model that offers auditing services to startups and enterprise customers. Additionally, the company has piloted a model where it takes a percentage cut from artists based on the royalty recovery amount, with plans to finalize this model based on artist feedback.
