Meet Jay Lamusica: The music industry CEO putting artists in control
He won art awards at the age of 7 in Italy, he self-funded a sold-out festival in London with headline acts going double platinum-selling, he signed and developed artists to Award-winning in Colombia, his most recent artist in Bulgaria went number 1 in the charts with a 100% hit ratio, he’s behind tens of millions of views for brands thanks to artists in its platform, he raised a $13m advance facility in 2021 for UK music creators after 12 months of negotiations with seniors in Europe, he’s backed by prestigious investors such as Axial Capital with the business now worth over £3 million pounds just recently, he’s turned down M&A offers as he vows to stay true for its customers and artists; he has completed projects for the likes of Westfield, Oxfam, and other premium brands, and he’s now a 28 years old music executive with a decade of back to back success stories in the music industry.
Meet Jay Lamusica, the new music industry phenomenon in Europe.
Italian-born and London-based but he is Lagos by DNA.
Jay Lamusica who founded Shodement in 2012, was born on 13 January 1994 in Castel San Pietro in Italy. His parents are from Lagos Nigeria living in Italy and they moved to London when he was 12 years old. He drives his main inspiration from Italian art creators such as Michelangelo and Giovanni Bellini. His passion for art then led him to help his friends with music, and later to music management. Shodement was born when he was only 18.
He describes himself as ” a music executive that bridges British music with International sounds from Italy, France, Japan, Nigeria, Colombia and more in one ” His childhood in Italy allowed him to understand songs in fluent Italian and Spanish. Thanks to his upbringing he understands songs in Colombian, French, and Japanese, and thanks to his family he also understands songs in Nigeria, Ghana, Brazil and South Africa. Thanks to his late teen he also understands fluent British and USA culture. He has a global living experience of music and understands it from the view of different perspectives and cultures. That’s what made his so successful to date.
” A&R’s of the new decade need to be fluent in many languages and living in different continents to evolve into a global music executive for the global market we have today ”
The idea for Shodement was built in college after Jay’s friends were rejected by a local record label. He decided to keep going and build the label of the next generation instead.
The first two years of the company were an uphill battle with humble beginnings and many failed projects. The firm eventually gained momentum and received its initial investment from Axial Capital Partners which discovered Jay when he was producing gigs and shows for artists in London at 19. Shortly after, Jay connected with Crowd Emotion’s CFO, Chris Wallis at a London Business conference, who decided to mentor him in business from the following year.
In the fifth year, the firm matured and reached its second breakthrough with the signing of Colombian star, Angelica Lopez who then won Lukas Awards artist of the year.Following the huge breakthrough, the firm ended up building up its client base with projects for the likes of Oxfam and Content Capital, launching Festivals, Discovering double platinum-selling records, and growing artists around the world.
In 2020, is where everything changed for Shodement. The lockdown forced musicians to operate with teams on-demand and Lamusica was lucky to be an established music industry executive that was pioneering this trend already. They decided to time this market shift with the launch of the technology division of the firm to make their resources available to the whole music industry on demand.
The market shift was pioneered by Merck Mercuriadis, founder of Hipgnosis as one of the leaders in that area, and he was able to translate the potential of music content to the finance world.
The technology launch happened around the same time and thanks to music becoming a popular asset class created by its artists – the value is now understood by leading private equity firms such as Blackstone, Pimco, Goldman Sachs, KKR, and more.
In the first 10 months of the app launch, the firm gained so much success with key artists signings that it ended up attracting an M&A offer from a Global conglomerate, which Shodement later turned down as they felt thar being swallowed by a conglomerate would mean it would lose its customer focus.
Lamusica added: “The reality is, I do think when you are part of a bigger organisation you tend to focus a bit less on the customers and it becomes more difficult to execute. From my view we are just getting started and we prefer to stay independent”.
In 2021, the firm expanded the product with a £10m ( $13.5m ) advance facility which came through thanks to the massive shift in the market and the boom of streaming.
The concept is built around giving creators unlimited capital and teams on demand, so they can scale worldwide without losing ownership of the music rights. The Shodement team can work closely with the artists and build them from zero to a “Music style IPO” to build Superstars of the next generation.
The momentum exploded with the company now being valued at over £3 million pounds in 2022 with new investors confirmed to join their new financing round after scoring the fifth consecutive year with a breakthrough Superstar – making this 28-year-old Award-winning music executive one of the most promising music founders in Europe with a 10-year track record of jaw-dropping successes across the sector.
Today, Shodement is continuing its mission to build the future of the music industry and using its success in the sector to fund social responsibility projects like their youth-led yearly festivals such as Global 12 which provides hundreds of jobs for young diverse creatives in London