Creator Commerce Platform KOMI Raises $12M With Sony and Live Nation Support

Investment money continues pouring into music monetization, with "all-in-one creator commerce platform" KOMI announcing $12 million in fresh funding. Sony Music Entertainment and Live Nation are both in as stakeholders.

Why it’s important: Market analysts like Goldman Sachs are predicting a dramatic rise in the "creator economy," and KOMI is positioned to tap it. The platform lets artists/creators host all of their commercial activity in one place, so fans can see links to social media pages, streaming service profiles, merch stores, tour info, etc. – all on the same page. Early adopters include the Jonas Brothers, Elton John, Lizzo, Usher and U2, and the site has seen "500% growth" of creators signing up since December of 2022.

Who's in? Live Nation and Sony Music are listed as "strategic" investors, while the main group includes RTP Global, Third Prime, Antler, e& capital, and Contour Ventures. The company’s total backing is up to $17 million.

What will they do? KOMI intends to use its new funding to further develop the platform and "expand its stateside team," as it gets prepared to monetize all the various aspects of music.

What they're saying: "The creator economy is on track to grow to $480 billion by 2027, proving creators have huge commercial potential given the trust and distribution they have garnered from their fans," said KOMI co-founder and CEO Lewis Crosbie, quoting Goldman. "However, creators and brands currently lack the digital infrastructure needed in order to maximize this opportunity, which is why KOMI is focused on building around three core pillars we believe are the most important for creators to reach their commercial potential, namely: Content, Commerce and Community."