NEW YORK – Medallion, a direct artist-to-fan platform that enables white-label fan experiences and digitally native commerce for artists, has closed $13.7 million of Series A funding. The round was co-led by Dragonfly and Lightspeed Faction, alongside technology investors such as Coinbase Ventures, Infinite Capital, J17, The Chernin Group, Third Prime, and Zeal Capital, as well as music industry investors including Bill Silva Entertainment, Black Squirrel, Guy Lawrence of Disclosure, Foundations Artist Management, Jungle, Mt. Joy, Method, Tiga, and TAG Music.
The company intends to use this capital to accelerate an ambitious technical roadmap to deliver net new revenue opportunities for artists and immersive experiences for community members around pivotal artist moments.
Since launching in 2022, Medallion’s technology has enabled artists to launch community-driven digital environments and target their highest intent fans to deliver exclusive access to drops, merchandise and experiences. Medallion-powered communities quickly became artists’ fastest-growing community channel, attracting 86% more members than their Facebook Groups, 161% more than Reddit, and 206% more than Discord.
Medallion’s most recent product release is Digital Deluxe, a chart-eligible format in the UK, Australia and Germany. The premium product seamlessly integrates exclusive audio and visual content to tell the story behind the music. Jungle’s most recent album landed at #3 on the UK charts, propelled in part by launching an experiential Digital Deluxe version of the album within their Medallion community. As consumers continue to embrace collecting physical music formats, Digital Deluxe offers fans a premium digital alternative with more immersive content straight from the artist.
“Artists owning direct access to their fans is critical, but they also need more ways to deliver value for it to drive impact,” said Matt Jones, CEO of Medallion. While streaming has opened up access to music and social media and created new channels for direct distribution, the full potential of direct artist-to-fan connections has not been realized. Medallion’s artist-centric approach and emphasis on digitally native fan experiences is helping usher in a new, transformative period for artists.
“Artists are starting to understand they are not just content creators, but brands themselves, and as a result are building multimodal businesses that go beyond simply music and content,” said Rob Hadick, General Partner at Dragonfly.
Prior to the Series A round, the company raised more than $9 million of seed funding in 2022 from investors including The Chernin Group, Polygon Ventures, Mike Shinoda, Betaworks, Red Light Ventures, and Noise DAO, along with current Medallion artists ILLENNIUM and Tycho.
