The music industry's A-listers and executive class are betting on HIFI as the future of financial transparency and empowerment in the creator economy.
HIFI, a platform branded as a "financial rights organization," is committed to delivering a suite of data-driven financial products to creators on a membership basis. Thus far, the company has delivered on the development of a Royalty Dashboard solution that uniquely aggregates royalty earnings data from across platforms and accounts all in one location.
Financial empowerment and transparency are two core principles for HIFI as it aims to shed light on an element of the industry that—in some ways—has remained opaque by design. Now, the company, which launched in 2020, has closed an eight-figure funding round to continue launching a forthcoming suite of products.
Music Business Worldwide reports A-Trak, 3LAU, Diplo and Hayden James are just a few of the artists who participated in the round. They are joined by a spate of industry magnates, label executives, artist managers and titans of the streaming space, including professionals from Capitol Music Group, Spotify, Red Light Management, TMWRK and more.
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"The support we're receiving from artists and their allies is truly unprecedented and indicative of how important our mission delivering financial transparency and independence to creators across the music industry is," Damian Manning, CEO of HIFI, states. "This strategic capital will accelerate the expansion of HIFI’s financial infrastructure and technologies, furthering our commitment to empowering creators with critical business insight and enhanced liquidity to fuel their careers."