It books the band, owns the room, prints the ticket and sells the beer sponsorship. Inside the $23-billion machine that moves 150 million concertgoers a year - and the antitrust fight over whether one company should do all of that.
Third Chair is an AI-native IP enforcement and licensing platform that helps rightsholders find who is using their content, trademarks, and likeness without permission and turn that unauthorized use into revenue. Backed by Y Combinator (X25) and FundersClub with $2.3M raised, it pairs AI agents that monitor, investigate, and draft demand letters with an on-demand network of lawyers. Customers - including Universal Music Group and much of the recorded-music industry - used the product to generate more than $1M in revenue in the last six months of 2025.
Medallion is a New York-based music technology company that gives recording artists a white-label digital hub to build and monetize their own fan communities. Founded by former Songkick CEO Matt Jones and launched in 2022, the platform lets artists promote releases, tour dates and merch drops, sell digital collectibles and 'Digital Deluxe' albums, and offer exclusive access to their most devoted superfans - all under the artist's own branding rather than a third-party social feed. Backed by $22.7M in funding from investors including Dragonfly, Lightspeed Faction, The Chernin Group and Metallica's Black Squirrel Partners, Medallion powers communities for artists such as Jungle, Disclosure, Greta Van Fleet, Sigur Ros and My Morning Jacket.
indify is a New York music marketplace that connects emerging independent artists with the partners they need to build a career - funders, managers, marketers, lawyers and creatives - without a traditional record deal. Founded in 2015 by three childhood friends, it started as a data tool for spotting breakout talent early (it flagged Billie Eilish, Post Malone and Khalid before they were famous) and evolved into a platform where artists strike transparent, per-release deals, keep their masters, retain creative control, and keep at least 50% of profits after an investor is repaid.
Royalty Solutions Corp is a New York-based, fee-based music royalty administration and publishing services firm that acts as an outsourced, white-label royalty department for record labels, independent publishers, distributors, and management companies. Founded by third-generation music executive Mark Spier, it pairs enterprise-grade royalty software with hands-on accounting to process statements, register catalogs, handle mechanical and master-use licensing, and pay rights holders accurately - all on a flat fee rather than a commission, so clients keep their earnings.