The live streaming space is getting hotter all the time.
After Live Nation acquired Veeps and Universal Music Group invested in Big Hit’s KBYK Live (and its VenewLive platform), attention is now turning to Los Angeles-based live streaming company Maestro, which currently has $ 15 million Dollars in a Series B round.
Investors in Maestro include Sony Music Entertainment and Chinese tech giant NetEase, parent company of NetEase Cloud Music.
Acronym Venture Capital, Stadia Ventures, Twitch co-founder Kevin Lin and former Activision Blizzard executives Michael and Amy Morhaime will take part in the $ 15 million round.
The increase brings Maestro’s total investment to $ 22 million.
In addition to live streaming technology, Maestro offers its music customers monetization tools that allow them to sell tickets and merch, set up pay-per-view and subscription events, and tip fans / “shout outs” platform.
Maestro is able to host live, virtual and augmented reality concerts or a mixture of these three.
“We are excited to support Maestro’s continued development as part of our ongoing investment in new technology that will provide artists with cutting edge tools and solutions for their careers.”
Dennis Kooker, Sony Music
The companies / brands that have used Maestro to date for live streaming events include Coachella, Electronic Arts, Epic Games (and Fortnite), The Recording Academy (aka Grammys), and Universal Music Group.
Maestro was the live streaming partner of choice for Billie Eilish’s “Where Do We Go? The livestream show last October aired from Los Angeles, which sold tickets for $ 30 a pop.
Maestro said it tripled sales in 2020 and has paid out millions of dollars to creators “since launching” [our] Monetization tools in May ”.
Dennis Kooker, President, Global Digital Business and US Sales, Sony Music Entertainment, said, “We are excited to support the continued development of Maestro as part of our ongoing investment in new technologies that provide artists with cutting edge tools and solutions to grow their careers.
“Maestro gives artists more flexibility and control to create the most engaging and customized events for their fans. It enables creators to create a world-class live-stream event at every stage of their careers.”
“We are resurrected by the human spirit and creative passion exploding from hundreds of millions of developers worldwide, and most importantly, we watch the career path flourish with a multitude of models all working symbiotically.”
Ari Evans, maestro
Joshua Siegel, General Partner of Acronym Venture Capital, said, “Maestro is leading the way in redefining the relationship between content owners and creators and their viewers. Rather than relying on established sales platforms, customers directly control the audience relationship and maximize engagement and monetization in a way that aligns with their branding goals. We are very excited about Maestro’s potential to be a fundamental driver for the growth of the creative economy. “
And Ari Evans, founder and CEO of Maestro, commented: “We are experiencing one of the most significant economic changes in history. A transition from the industrial revolution – produce your widget as cheaply as possible and distribute it as widely as possible – to a new model that is essentially the other way around: find your core audience and monetize them effectively, and you can do that what you love for the rest of your life.
“We are resurrected by the human spirit and creative passion exploding from hundreds of millions of developers worldwide, and most importantly, we watch the career path flourish with a multitude of models all working symbiotically. We serve the Creator as a partner on his journey and the realization of his dreams. “
Several existing Maestro investors also contributed to the new $ 15 million round, including SeventySix Capital, The Strand Partners, the Hersh Interactive Group and Transcend Fund, as well as early Zoom employees Richard Gatchalian and Aaron Lewis.Music business worldwide