Too Lost banks $100M in New York while staying indie

Too Lost just banked another nine-figure year while staying 100% indie and bootstrapped.

Financial performance and growth trajectory

• The New York-based indie distro pulled in over $100 million for 2025, clocking a ridiculous 130% year-over-year jump in 2024
• EBITDA more than doubled this past year, and they're projecting significant high double-digit growth heading into 2026
• December alone saw 9% month-over-month gains, and apparently, the momentum isn't slowing down anytime soon
• CEO Gregory Hirschhorn says the company has been profitable while scaling without outside investors or handouts

Platform scale and user metrics

• They dropped over 2.3 million new tracks across nearly 1 million releases during 2025
• More than 100,000 fresh artists and labels hopped on the platform, bringing the total user base to roughly 400,000
• Streaming numbers doubled year-over-year, with Apple Music alone surging by over 170%
• The company paid out tens of millions of dollars in royalties to clients throughout the year

Strategic investments and acquisitions

• Too Lost deployed millions into new ventures and scooped up millions worth of catalogs in 2025
• They dropped more than $10 million in advances and marketing budgets to prop up independent artist growth
• In October, the company made a seven-figure investment in AntiFragile Equity Partners, a startup hunting undervalued music catalogs
• They also pumped seven figures into Rebellion Records, an indie label founded in 2023 that's racked up approximately 5 billion streams since launch
• Rebellion's roster includes Chris Grey, who went from 100,000 to over 6 million monthly Spotify listeners within his first year

Partnership expansions and catalog deals

• Too Lost struck a partnership with Xposure Music to co-fund catalog acquisitions, with plans to deploy tens of millions in upcoming deals
• In November, they secured a direct partnership with South Korean streaming service Melon, which has over 6 million monthly active users
• In September, the company partnered with direct-to-fan platform EVEN, allowing artists to sell music, merch, tickets, and exclusive experiences straight to fans
• The platform now integrates with more than 480 stores and services worldwide, adding partnerships with TikTok Commercial Library, Hook, Lissen, Eleven Labs, Nina Protocol, Turntable, and Soda Music during the year

Global expansion and infrastructure

• Too Lost opened a new office in downtown Reykjavík, Iceland, and launched operations in the UK and Brazil through a joint venture with OnTheRadar
• The company now supports creators in more than 180 countries worldwide, with artists joining from every corner of the globe
• Through the OnTheRadar joint venture, they released nearly 200 original freestyles to streaming services from artists in the UK and Brazil

Artist roster and high-profile wins

• Founded in 2020 by Gregory Hirschhorn, Alex Silverstein, and Bjarki Lárusson, the company works with over 400,000 labels and artists
• They've previously released music from acts including Teddy Swims, Tory Lanez, Pink Sweat$, Chief Keef, Royel Otis, KAYTRANADA, and Alex Warren
• High-profile signings during 2025 included The All-American Rejects, whose viral house party tour became one of the most memorable moments of the year
• Multiple Too Lost clients appeared on national television programs, including Jimmy Kimmel Live and The Tonight Show with Jimmy Fallon