Warner Music Group has announced the creation of WMG Boost, a seed-stage investment fund created to support entrepreneurial growth and unique thinking within the music industry. The fund will invest in businesses in their earliest stages of development that have relation to recorded music business.
WMG Boost will also be involved in how technology plays a part in the industry across recorded music and publishing. Portfolio companies will also have access to WMG's expertise when in the process of developing products.
“WMG Boost is all about nurturing the diversity of ideas within the music ecosystem, especially at this meeting point between music and tech,” said Ole Obermann, chief digital officer of Warner Music Group. “This fund enables us to support thoughtful entrepreneurs, learn more about emerging business models, and invest in the creation of more opportunities for artists.”