$150 Million Hits The Audio Up Bank Account

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Audio Creation company Audio Up has closed on its Series C fundraising round of $150 million. Investors include The Weeknd, SiriusXM, MGM-Amazon and others.

“We have achieved an incredible amount in a very short time frame,” says Audio Up founder and CEO Jared Gutstadt. “Having our business organized around a small group of elite media companies and entertainment luminaries allows us to grow in a way few can match.”

Audio Up will use the proceeds to continue amplifying the music side of their business. Among their objectives in 2023 will be to strengthen their vertical integration strategy by building new studios and post-production facilities in Nashville. They already have facilities in Los Angeles.

Gutstadt explains, “Our podcast strategy goes beyond the CPM model synonymous with Podcast 1.0 success. Audio Up has become a true gateway for content development and the testing of new IP. Along the way, our podcasts are becoming a new discovery platform for music, and is hitting a blind spot being missed in this inherently audio centric media. By discovering new recording artists and writers which we plug into our content and into the world of DSPs, we are becoming a go to IP source for major labels and studios alike. In success we hope to be at the epicenter of hit records, television shows, films, tours, and brand experiences of the future. Discovery has become one of the biggest challenges for all aspects of the entertainment space. This is our challenge and we believe we have a unique angle into discovery. Come for the podcast, stay for the music. The next phase will allow us to push the boundaries further and finally have our Encanto or Old Town Road Moment utilizing the podcast as the fire starter.”

Comments:

michael smith - Dec 5, 2022

The round was only 10 million with a 150 million valuation. they did not raise 150 in new money.

Thanks Michael Smith- huge difference