Dune nears £2 million funding for fan-driven music platform
A Manchester-based music technology company is nearing completion of a $2.6 million funding round ahead of its platform debut next month. Dune allows supporters to purchase tradable positions in musicians that rise or fall with daily streaming metrics, addressing what founders describe as inadequate artist compensation from digital plays.
Co-founder Paul Knowles said data indicate only 0.1 percent of musicians earn sufficient streaming income to meet basic monthly expenses. The startup provides pages to artists without subscription charges, while supporters can buy and sell stakes based on performance data. Musicians receive both revenue and audience analytics from transactions on the system.
Two independent acts have signed on for the rollout, which follows industry consultations. Hertfordshire band The Hunna and Manchester-based American artist BC Camplight are committed to the service. Co-founder Paul Bowe said feedback from musicians and managers during preliminary discussions has been strong. The company declined to identify investors or disclose its valuation following the Series A round.
