Global audio streaming service Deezer secures its position as a cornerstone investor in DREAMSTAGE, a US-based startup focused on live music streaming.
WIth the new Deezer investment, DREAMSTAGE is expected to significantly speed up its growth and operations expansion. The move follows a world in the new normal, with musicians, performers, and entertainers embracing the opportunities found in live music streaming. This rapidly growing industry, according to a Deezer news release, is expected to reach US$ 6.4 billion by 2027.
DREAMSTAGE Getting Support from DEEZER
Since its launch, DREAMSTAGE and its game-changing technology has already streamed more than 50 live shows from various artists. Bringing a rich live music experience from the safety of the fans' homes, the tech startup has allowed musicians to continue their craft and their livelihood even in the middle of the coronavirus pandemic.
Additionally, the live music streaming startup offers artists the opportunity to move beyond brand sponsorships and ticket selling by selling their merch, VIP experiences, and raising donations. For its long term strategy, the Deezer backed startup has created Live Music Video as an emerging entertainment format, offering simulcast streaming for live concerts once restrictions on travel and in-person events are lifted.
With the Deezer investments, DREAMSTAGE will be able to accelerate its roll-out, expand the range of its offerings and grow its market share. Companies can also look together at new opportunities for music fans and how they will benefit from its existing live streaming capabilities.
Mutual Growth for Both Media Companies
On its end, Deezer already has an expansive global subscriber base, the latest in content streaming technology, and one of the largest content catalogs in the industry. As an investor, the two companies are expected to work together, identify their synergies and opportunities for mutual growth.
"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," says Deezer CEO Hans-Holger Albrecht. "Music fans can finally enjoy an authentic concert experience that is more than just a video call."
Albrecht adds that both Deezer and DREAMSTAGE share the vision of "supporting talent across a wide variety of genres," while recognizing the importance of live shows during these opportunities. The support provided by DREAMSTAGE aligns with Deezer's mission of connecting artists with their fans, which the streaming service does through its Originals projects, recorded sessions, and content curated by its editorial staff.
First launched in August 2020, DREAMSTAGE has already hosted more than 50 live streaming events. Even as a tech startup, it has capabilities to respond to the entire value chain of virtual event hosting - from ticket sales to the actual streaming of the video and audio aspect of the event across supported devices.
While it currently generates most of its revenue from brand sponsorships and actual ticket sales, it also aims to offer live gig subscriptions to fans in the future. In its company roadmap, DREAMSTAGE looks into expanding towards interactive fan experiences, teaming up with live events venues, and manifold opportunities leading to other forms of live entertainment.
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Published on Tech Times.