In 2024, Los Angeles-based Create Music Group was valued at $1 billion following a $165 million investment round.
The company has been on an acquisitive streak since then, announcing a strategic catalog acquisition and joint venture with Pack Records last February, and a month later securing the catalog of electronic music producer and DJ Deadmau5, along with that of his label Mau5trap.
Also, last year, it acquired the Berlin-headquartered indie music company !K7, and formed JVs with EZMNY Records and Star Trak Entertainment. Plus, it’s backing a $500 million investment fund launched by Circuit Group in November.
Now, it is collaborating with Romel Murphy – manager of AI musician Xania Monet (real name Telisha Jones) – to launch a “multi-million dollar” joint venture label dubbed dai + drm (pronounced “daydream”), according to a press release.
Murphy’s new “hybrid AI and traditional” label and management firm says it “applies modern tools, including AI, to help writers scale their impact without compromising authenticity or ownership”.
“My goal is to make sure songwriters are at the forefront of AI in music… while maintaining ownership and long-term equity in their work.”
ROMEL MURPHY, dai + drm
Artists and songwriters working with the company – which spans label services, management, consulting, and marketing – “retain equity and monetize across both master recordings and publishing,” the press release added.
“At every major shift in music, songwriters are often left out of the conversation,” said Murphy.
“My goal is to make sure songwriters are at the forefront of AI in music, seated at the table, not getting crumbs, while maintaining ownership and long-term equity in their work.”
Murphy already has a track record in the space, as Xania Monet became the first “AI-powered artist” to chart on one of Billboard’s airplay charts last November.
Both the Monet avatar and her music were generated by Telisha “Nikki” Jones, who fed a poem she wrote into Suno, and out came How Was I Supposed To Know?, which has since topped 11 million streams on Spotify.
Monet currently has 1.2 million monthly listeners on the platform.
“Romel is an extremely bright entrepreneur. We look forward to seeing his record label flourish.”
Jonathan Strauss, CREATE MUSIC GROUP
dai + drm’s label roster includes AI-driven acts such as Solomon Ray, Nova Sole, plus traditional artists including Jenneske, Renee Harmoni, and IME Casino, with its partnership with Create Music Group (CMG) reflecting “a shared belief in vision and long-term potential”.
“Romel is an extremely bright entrepreneur,” added CMG CEO Jonathan Strauss. “We look forward to seeing his record label flourish.”
Xania Monet’s rise has been backed by Hallwood Media, the company founded in 2020 by Neil Jacobson, former President of Universal Music Group‘s Geffen Records.
Hallwood signed Monet to a reported multi-million dollar record deal following a bidding war that saw offers reach $3 million.
Notably, Hallwood Media Ventures – the company’s investment arm – participated in Suno’s $250 million Series C funding round last November, which valued the AI music generator at $2.45 billion.
Hallwood Media Ventures is staffed by well-connected music industry veterans, including Universal’s ex-CFO Chuck Ciongoli, ex-UMG EVP Mike Biggane (who also served as Spotify’s Head of Global Curation), and Paul Hourican, formerly Global Head of Music Operations at TikToMusic Business Worldwide
