Setting the Scene
There are over 11 million artists and creators on Spotify.
Only 500,000 artists have over 1,000 monthly listeners. 😮
Only 214,000 artists have over 10,000 monthly listeners. 😱
Only 9,000 artists have over 1 million monthly listeners. 🤯
While creators of all sizes monetize their music, most artists under 1 million monthly listeners struggle to afford legal representation, and the fast-expanding music business leaves many lawyers overworked.
This week’s company supports emerging artists and their teams through a legal platform that uses AI and educational tools to help creators get deals done. 📜
In a Sentence
Creative Intell is an AI dealmaking and learning platform for the music and creative industries.
AI: A chatbot guides and generates tailored legal documents for artists.
Dealmaking: The platform serves artists, managers, lawyers, booking agents, live venues, record labels, and more to draft, negotiate, and sign contracts.
Learning: Courses train artists and their managers on legal language and deal structures.
Bulleted Version
- Creative Intell is like a combination of LegalZoom, ChatGPT, and Khan Academy for the music industry. 👩🏼⚖️ 🤖 👩🏽🏫
The Basics:
- Headquarters: New York, NY
- Employee Count: 10
- Investors:
Electric Feel Ventures, Ruttenberg Gordon Investments, Backend Capital, Rimas, Reynolds Management, Milk and Honey, Ozone Entertainment, Galactic Records, Lucy Guo, Kevin Liles, Lyor Cohen, Richard James Burgess, Dina LaPolt, Robert Celestin, Bret Disend
- Funding amount: $3m seed
- Currently raising: $1.5m
- Business model: B2C, B2B, SaaS
- Early traction: Pre-launch partnerships with the American Association of Independent Music, Bandier Program, Milk and Honey
Due Diligence
✅ A need in the market: With 25m SoundCloud creators, 100k new songs uploaded to Spotify each day, and independent artists stealing market share from leading record labels, Creative Intell’s patented technology serves a growing and underserved market.
Plus, independent artists face high costs, miscommunication, and a lack of education during the dealmaking process.
👥 User acquisition: Every artist that joins the platform brings managers, lawyers, and other parties, which helps Creative Intell acquire new users and paying customers.
🔄 Retention: By offering courses to help users understand music rights and dealmaking, the company keeps users engaged, drives repeat usage, and builds retention.
😾 Copycats: The company may face competition from established legal platforms like LegalZoom, artist management tools from Spotify, or generalist legal AI startups.
📺 Scaling courses: Creative Intell must continuously update its content with changing regulations and expand its offerings once it plans to serve other industries.
Course catalogs are expensive to produce but offered for free to paying customers.
🔁 Artist churn: The company may face higher churn rates, as most emerging artists discontinue their careers.
Founder Profile
David Fritz: Experienced entertainment and media lawyer at Boyarski Fritz.
Steven Ship: Experienced entertainment and media executive at Winston Entertainment.
Comps
Cosynd: Backed by NYCEDC, Morgan Stanley, and Pipeline Angels.
Daft Springer: Backed by Simpleweb.
SongSplits: Raised through crowdfunding.
Creators Legal: Raising through crowdfunding.
Why Creative Intell
With an AI chatbot that democratizes dealmaking for music artists, a sticky learning platform, and a broad end market expansion opportunity, Creative Intell is remixing the legal and music industries. 🎧
