Duetti, a music investment company focused on indie music rights, has announced it has hired Sachin Premnath as its top lawyer.
As the company’s General Counsel, Premnath will be a key member of Duetti’s executive team, contributing to company initiatives including the buildout of its infrastructure and capabilities, international expansion, and expanding the type of music rights that Duetti can engage in, the company said in a statement Tuesday (January 21).
Premnath joins Duetti from Netflix, where he advised on film and TV deals with labels, publishers, artists, and songwriters, and where he developed the streaming service’s music strategy for its games initiative.
Prior to Netflix, Premnath led international content acquisition at Sony Entertainment Network, and served as a Partner in Reed Smith’s Entertainment and Media Team, providing legal advice to high-profile clients on music, digital entertainment and corporate issues.
“Duetti’s unwavering commitment to empowering independent artists and reshaping music monetization is inspiring,” Premnath said in a statement to MBW. “I am thrilled to join Duetti as General Counsel and work with this dynamic team to continue driving innovations for the industry.”
Three-year-old Duetti, which was founded by former Tidal COO Lior Tibon and former Apple Music business development exec Christopher Nolte with a mission to “democratize catalog monetization for independent artists,” recently secured $114 million in new funding for catalog acquisitions.
Of that amount, $80 million came from the company’s first asset-backed securities (ABS) transaction. Another $34 million came from a group of investors led by private equity firm Flexpoint Ford, with participation from existing investors Nyca Partners and Viola Ventures., Duetti’s lead seed equity investor.
“Duetti’s unwavering commitment to empowering independent artists and reshaping music monetization is inspiring.”
Sachin Premnath
Earlier in 2024, the company announced it had raised $90 million in new funding, comprised of a $75 million credit facility provided by Northleaf Capital Partners and $15 million in equity financing led by Nyca Partners, with participation from Viola Ventures and Cohen Circle.
In all, Duetti says it has raised more than $235 million for catalog acquisitions.
In early 2024, the company said it had partnered with some 250 artists so far, including Olivia O’Brien, Sevyn Streeter, Łaszewo, CVBZ, Sylvan LaCue, and Croosh. The company said in 2023 that its rights acquisitions handed indie artists up to $400,000 per deal.
According to internal documents cited by The Verge in 2022, Duetti says its goal is to “financially enable all artists to further pursue their professional or personal aspirations.”
Duetti is “democratizing access to catalog monetization opportunities” and is “building a world-class team that will create new ways to source, price, acquire, aggregate and monetize music,” the documents reportedly read.Music Business Worldwide
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