Music financing platform Duetti plans to raise debt in 2026 to support its growing catalog of music rights, said co-founder and COO Chris Nolte.

The company’s next asset-backed securities placement is expected to surpass its most recent USD  150m debt raise, announced last month together with a USD 50m Series C financing led by Raine Partners, the growth equity fund of The Raine Group, Nolte said. The debt portion consisted of a USD 125m private securitization and a USD 25m increase of an existing credit facility.

A Series D round of capital is possible this year or next to accelerate growth, Nolte said, though there are no set plans to do so at this time.

Duetti buys catalog rights from independent musicians. To date, it has compensated approximately 1,100 music creators for their catalogs, single-track masters, or publishing rights, with certain transactions reaching up to USD 10m.

The company averaged 80 rights acquisitions a month in 2025, a 250% increase from the year prior, Nolte noted. He declined to comment on revenue.

Founded in 2022 by Nolte, 39, and CEO Lior Tibon, Duetti has raised USD 100m in equity and USD 535m in debt.

In addition to Raine, equity stakeholders include Flexpoint Ford, Nyca Partners, Viola Ventures, and entertainment company Roc Nation. Debt providers include Truist Securities, Viola Credit, and Northleaf Capital Partners. Nolte said.

Nolte previously was a content acquisition and business development executive for Apple Music. Tibon was COO of global music streaming service TIDAL, which was acquired by Block (then known as Square) in 2021.

Duetti uses data-driven prices to purchase music catalogs or individual tracks from artists. It then markets and manages those tracks. The company, which works with artists earning as little as USD 2,000 annually, has thousands of curated playlists on Spotify with more than 5 million followers.

Nolte said Duetti has worked with artists in more than 40 countries. Around 30% of deals originated from outside the US last year, including in Germany, France, the UK, Brazil, and Mexico, he added.

Traditional players in the space include music labels, publishers, and distributors, as well as traditional lenders, private equity firms, and PE-backed strategics including HarbourView Equity Partners, Blackstone-backed Recognition Music Group (formerly Hipgnosis), and BlackRock- and Oaktree Capital Management-backed Primary Wave Music.

Nolte noted newer indie music financing tech companies as beatBread, Pipeline, and GoDigital subsidiary Sound Royalties.

In August, beatBread raised USD 124m in credit and equity capital from investors including Citi. In January, Pipeline launched with more than USD 200m in financing. Sound Royalties announced earlier this month that it closed USD 135m in funded contracts in 2025.

The mid-market is feeling significant tailwinds with more than 70% of all music now streamed, Nolte said. Instead of everyone seeking “that one big hit, the pie is now spread across more artists, with the Top 100 songs making up less and less market share,” he added.

Consolidation is expected “on a massive scale,” further perpetuated through artificial intelligence, Nolte continued. He pointed to Downtown Music, which was acquired by Universal Music Group’s Virgin Music Group unit in a USD 775m deal. Adjacent player DistroKid, an Insight Partners-backed independent music distributor representing more than 2 million artists and nearly 40% of new global releases, is reportedly exploring a sale that could be valued in excess of USD 2bn.

Industry multiples, according to Nolte, are typically in the teens to low-20s and based on net label share, the revenue retained after passing on royalties to songwriters or singers.

Nolte said Duetti has no near-term plans to exit. He noted potential future buyers as private equity firms or one of the three major music companies: Universal Music Publishing Group, Sony Music Publishing, or Warner Chappell Music.

Duetti has more than 65 employees. The business has grown organically to date. It has additional offices in Los Angeles, Miami, and London, with Nashville set to open soon.

The company uses law firms Sidley Austin and DLA Piper, and accounting firm PwC.  Barclays has advised on past debt raises. Nolte said Duetti has previously worked with Latham & Watkins and Mayer Brown.