In just three months since its launch, Mogul, a music startup that lets artists and managers track and identify missing royalties, has surpassed $100 million in tracked royalties for its users.
Mogul was launched in February by former Head of Creator at SoundCloud, Jeff Ponchick, and Joey Mason. The startup describes itself as a platform for artists seeking to simplify their finances and ensure they receive their rightful earnings.
Mogul acts as a central financial hub for artists and creatives. By connecting their various accounts, users gain a comprehensive view of their income streams, both real and anticipated. Mogul identifies potential discrepancies and offers “actionable” insights, ensuring artists receive what they are owed.
During its launch, the startup said it had found more than $3.5 million in previously unidentified revenue while tracking more than $30 million “before the service… even launched.”
“Surpassing $100 million in tracked royalties so quickly is a clear sign that the industry’s opaque and fragmented nature needs to be remedied.”
Jeff Ponchick, SoundCloud
“We are thrilled to reach this incredible milestone in just three months of launching,” said Jeff Ponchick, co-CEO of Mogul. Ponchick co-founded and previously served as the CEO of subscription-based artist services platform Repost Network, which SoundCloud acquired in May 2019 for around $15 million. SoundCloud then launched its Repost by SoundCloud marketing and distribution platform in April 2020, aimed at “serious artists who want to take their career to the next level.”
After serving as Vice President, Head of Repost until late 2021, Ponchick was promoted to Vice President, Head of Creator at SoundCloud. He left SoundCloud in August 2022.
“Surpassing $100 million in tracked royalties so quickly is a clear sign that the industry’s opaque and fragmented nature needs to be remedied. Artists and their teams receive an ocean of data from each royalty source and have little to no tools at the ready to make sense of how their business is actually working. We’re thrilled Mogul is filling that need for new artists every day so that they can understand their business and generate more income,” Ponchick added.
“We look forward to providing flexible funding to artists on the Mogul platform, no matter which distribution, publishing or marketing partners they choose.”
Peter Sinclair, beatBread
Additionally, Mogul announced that it has partnered with beatBread to enable artists to secure advances or explore catalog sales.
Peter Sinclair, CEO of beatBread, said, “We are very excited to partner with Mogul, not only because of the platform’s innovative technology, but because our companies share a vision of artist empowerment. We look forward to providing flexible funding to artists on the Mogul platform, no matter which distribution, publishing or marketing partners they choose.”
Singer-songwriter Aloe Blacc, one of the early adopters of Mogul, said, “I’m excited about what Mogul can do for artists at all levels of the industry. To have a system to synthesize all sources of income in a transparent way is transformative tech we all need.”
Mogul previously raised $1.9 million from a group of investors including Wonder Ventures, United Talent Agency, Amplify.LA, and former SoundCloud CEO Kerry Trainor’s Creator Partners.
The service provides a free option enabling any artist to link their accounts, and then charges a fixed subscription fee for those requiring assistance in claiming lost royalties. Additionally, there’s a Pro tier available at $20 per month.
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