Futures Music Group, the independent label group founded in 2024 by Neon Gold’s Derek Davies and Avenue A’s Dave Wallace, has raised $6 million in seed funding from a group of music industry investors in the US and UK.
The label did not disclose the investors in the round other than Ben Blackburn, founder of Common Knowledge and manager of girl in red.
Commenting on the investment, Blackburn said: “From an artist perspective, what matters most is having partners with great relationships and smart technology, who also understand the creative and don’t force a rigid system onto it.
“Futures approaches artist campaigns in a way that feels collaborative and intentional, where the strategy is built around the artist rather than the other way around. That kind of alignment is extremely rare, and that’s why I am excited to be involved.”
Futures said the funding will go toward infrastructure, artist development, operations, and in-house technology development, as well as an expansion into catalog partnerships.
“Futures approaches artist campaigns in a way that feels collaborative and intentional, where the strategy is built around the artist rather than the other way around.”
Ben Blackburn, Common Knowledge
The label group is home to artists including Lykke Li, Mt. Joy, Cavetown, Phantogram, The Knocks and Barns Courtney. Its first release, Home by Good Neighbours, was certified platinum within nine months in 2024. Mt. Joy reached the top five on US alternative radio with Lucy and sold out shows in Australia and the UK, including a date at the Hammersmith Apollo in London.
Derek Davies, Co-CEO of Futures Music Group, said: “This fundraise has been instrumental in allowing Futures to achieve proof of concept in creating a new standard for how artists and managers work alongside labels equitably.” Davies co-founded Neon Gold, the independent label known for artists like Charli XCX, Tove Lo, HAIM, Marina & The Diamonds and more.
“This fundraise has been instrumental in allowing Futures to achieve proof of concept in creating a new standard for how artists and managers work alongside labels equitably.”
Derek Davies, Futures Music Group
Dave Wallace, Co-CEO of Futures Music Group, added: “The rapid growth of our roster across such a high pedigree of artists and management partners is evidence that our value proposition is resonating.
“Critically, this investment also allows the team at Futures to begin building out the next phase of the company, which includes development of our own internal technologies to help artists maximize value and fan experience across their releases, as well as initial forays into the catalog space.”
On the technology side, Futures has been building an investment portfolio that includes stakes in Indify, Splice, Chordal and Big Effect.
Its most recent addition is ITM Studio, a company focused on infrastructure for connected real-world and digital interactions. Futures said it is working with ITM Studio to develop proprietary technology around digital album formats and fan experiences.
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