30 Jan Venture Capital Pours Into Music
By Paul Resnikoff
January 22, 2013
From Digital Music News
Is this a simple case of dumb money, or the beginnings of a totally new industry? Because for all the collapse and total devaluation being experienced by the music industry, there are still plenty of people willing to gamble. That is, to the tune of roughly $621 million in 2012 alone according to Digital Music News stats, which now turns out to be roughly 1 in 43 dollars committed by the broader VC investment community last year.
The math is a little rough, but the conclusion pretty stunning. According to figures just released by PricewaterhouseCoopers, Thomson Reuters, National Venture Capital Association (NVCA), total financing across all sectors topped $26.5 billion in 2012. That was a drop of 10 percent, the first fall in three years, yet music jumped a healthy 34 percent.