YouTube wants to win the love of musicians by solving their biggest problem: how to turn popularity into cash. So few days ago it announced it’s acquired BandPage for $8M, a startup that helps artists show off and sell concert tickets, merchandise, and exclusive fan experiences.
Founded in 2009 and having raised $27.6 million, BandPage began as an app that let musicians create a special Music tab on their Facebook Page. But after Facebook shut down these Page apps in 2012, it lost 90% of its traffic in three months. It went from 32 million monthly users and being the second most popular Facebook developer behind Zynga, to just a few million.
It was a grim moment, as BandPage had just raised a big $16 million Series B from GGV Capital a few months prior. It eventually had a to raise a smaller $9.3 million Series C in 2014 to stay afloat. Luckily, BandPage quickly realized it couldn’t stay on Facebook and unshackled itself. Now its swift pivot seems to have paid off. BandPage created a platform that artists could update with their tour dates and t-shirts, and have them appear in tons of places through integrations with Spotify, SoundCloud, Facebook, Twitter, Shazam, Rhapsody, StubHub, and more, as well as Google and YouTube.
BandPage writes that “BandPage is dedicated to helping musicians build their careers by growing their fan bases and increasing their revenue on the largest digital music services in the world. By joining forces with the team at YouTube, we can help artists reach their fans in more powerful ways than ever before.”
One big question is whether BandPage will keep working with some of YouTube’s biggest competitors.
Visit: http://www.bandpage.com for more information.
Posted by: ©thebrandradio 2016