Symphonic launched Symphonic NEXT — a new initiative through which the company will offer tailored financial solutions, including royalty advances, partial or full catalog sales, strategic partnerships and long-term distribution support — and tapped Michelle Garramone, who co-developed the program, as head of strategic partnerships at the company.
Through NEXT, Symphonic will work with artists, managers, labels and other rightsholders to evaluate their catalogs, identify opportunities to enhance their value and determine the most effective financial strategy.
Garramone joined Symphonic earlier this month to lead the company’s work concerning catalog deals and strategic partnerships; Symphonic NEXT is the first initiative launched through her efforts. Before Symphonic, she was president of Blue Rose Music and later served as an advisor to indie artists, labels and music companies on expansion strategy, restructuring, and more.
“Symphonic NEXT reflects our continued focus on building meaningful relationships across the music and investment communities,” said Garramone in a statement. “We are working closely with both rightsholders and capital partners to identify opportunities, optimize assets, and structure deals that make sense for all parties. This is an important step in expanding how independent music businesses access and benefit from capital.”
Added Jorge Brea, CEO of Symphonic: “Symphonic NEXT is a natural evolution of our platform and the work we’ve already been doing to support our clients beyond distribution. We’ve grown our capabilities around advances, catalog strategy, and deal structuring, and we see a clear opportunity to continue expanding in this area. Our goal is to provide independent artists, labels, and managers with access to capital and partnerships that help them build long-term, sustainable businesses.” — Chris Eggertsen
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