Deezer makes strategic investment in DREAMSTAGE and joins the live music streaming revolution
Deezer, the global audio streaming service, is becoming a cornerstone investor in DREAMSTAGE, a U.S.-based live music streaming startup. The new funding will enable the company to significantly speed up growth and expand its operations.
Musicians, entertainers and performers from all over the world are embracing the opportunity offered by live music streaming. The fast growing industry is expected to reach US$ 6.4 billion by 2027.* DREAMSTAGE’s technology has delivered over 50 live shows since launch. This has brought a rich live music experience into fans’ homes, and has provided a wide variety of musicians with the means to generate income during the pandemic.
DREAMSTAGE also offers artists the opportunity to go beyond ticket sales and brand sponsorships, by selling merchandising, VIP experiences, and raising donations. The platform is set up for the long term, developing Live Music Video as a new entertainment format and offering simulcast streaming opportunities for in-person concerts when live gigs start again.
Deezer’s investment will help accelerate the roll-out of DREAMSTAGE’s product, expand its range of content and grow market share. The companies will also look at new opportunities for how music fans can benefit from DREAMSTAGE’s live streaming capabilities.
Deezer has a vibrant global subscriber base, state of the art technology and one of the largest catalogs in the industry. The companies will work closely together to find synergies and opportunities for co-promotion. This means that music fans will have more ways than ever to engage and support the artists they love. Deezer and DREAMSTAGE are also closely aligned in their support of both local and international artists and genres across the world.
“We believe that DREAMSTAGE is the best live music platform on the market today. It’s well placed to become the ultimate online music destination for both fans and artists. Music fans can finally enjoy an authentic concert experience that is more than just a video call,” said Deezer’s CEO Hans-Holger Albrecht.
“DREAMSTAGE and Deezer share a vision of supporting talent across a wide variety of genres. Live shows provide musicians with crucial revenue opportunities during these challenging times. This aligns closely with our mission to connect artists with their fans through our Originals projects, recorded sessions and editorial content,” he added.
“DREAMSTAGE is rapidly developing as a leading premium player in the thriving streaming concert business, creating unique moments for artists and fans to connect across the globe. We are excited to join forces with Deezer who share our vision to innovate and capture this massive new opportunity. Together, we will nurture and propagate the emerging Live Music Video format, and help artists grow and delight virtual audiences everywhere. We are thrilled and honored to transform live music for the long term with Deezer as a visionary entrepreneurial partner,” said Thomas Hesse, CEO of DREAMSTAGE.
DREAMSTAGE is led by its three founders: CEO Thomas Hesse (former President of Sony Music for Global Digital Business and U.S. Sales/ Distribution), CTO Scott Chasin (serial entrepreneur with a track record of successfully founding and growing startups, including ProtectWise and MX Logic) and Artistic Director Jan Vogler (internationally known cellist and director of the Dresden Music Festival).
* Source: Midia