[ad_1]
Ten months after saying that it’s shutting down its operations, streaming service Gimme Radio has offered its e-commerce property to leisure commerce agency Mainfactor – and has hinted at a relaunch of its streaming platform.
Philadelphia-based Mainfactor has purchased Gimme Radio‘s “e-commerce-related websites and property,” the corporate introduced in a press release on Thursday (December 14).
Gimme Radio launched six years in the past, and ran two streaming apps: Gimme Steel for heavy steel followers and Gimme Nation for nation/Americana followers.
Not like most different streaming providers, Gimme Radio’s music options got here not from an algorithm, however from artists themselves, who curated playlists for music followers utilizing the apps.
Among the many DJs who hosted reveals on the service have been Dave Mustaine of Megadeth and Johan Hegg of Swedish dying steel outfit Amon Amarth. DJs on the nation/Americana aspect included Brandy Clark and Joshua Hedley.
The thought was “to construct a venue the place followers of genres exterior of mainstream hip hop and pop weren’t marginalized, however catered to,” Gimme Radio Co-Founder and CEO Tyler Lenane wrote last April.
The platform constructed a neighborhood of 400,000 “superfan music customers” who, in line with Lenane, spent a mean of $123 on the platform in 2021, greater than double Spotify’s $54, together with on tricks to artists and subscriptions to the corporate’s $30-a-month vinyl membership.
The platform efficiently completed a seven-figure funding round in 2021/22, led by US radio large iHeartMedia. Wayra X, the enterprise capital arm of Spanish telecom large Telefonica, additionally invested in that spherical.
“Gimme Radio is the way forward for music fandom and the creator financial system,” Luis Rubio, Head of Wayra X, stated on the time.
“I stay up for collaborating with Mike and his workforce to rejuvenate the Gimme neighborhood, marking a big step towards the eventual relaunch of an enhanced Gimme streaming service sooner or later.”
Tyler Lenane, Gimme Radio
Nonetheless, regardless of the buy-in from distinguished media firms, Gimme Radio was unable to finish a hoped-for $5 million funding spherical earlier this yr, and was forced to shut down its apps, Lenane introduced in a Medium submit in April.
In a press release on Thursday, Lenane expressed confidence that Mainfactor would have the ability to capitalize on Gimme Radio’s e-commerce infrastructure, and indicated the corporate was engaged on relaunching its streaming service.
“Once we began Gimme, we aimed to create an internet store resembling a real impartial document retailer – an genuine house the place music fanatics might discover new bands, rediscover forgotten data, and achieve entry to unique collectibles. Undoubtedly, [Mainfactor Founder and CEO] Mike Fiebach and his workforce at Mainfactor are the correct match to proceed this mission,” Lenane stated.
“I stay up for collaborating with Mike and his workforce to rejuvenate the Gimme neighborhood, marking a big step towards the eventual relaunch of an enhanced Gimme streaming service sooner or later.”
“Tyler Lenane and his workforce at Gimme Radio constructed one of the vital sturdy communities of music lovers on this planet. By seamlessly mixing content material and commerce, they supplied die-hard followers with fixed unique entry to media and merchandise,” Fiebach added.
“Mainfactor is thrilled to proceed Gimme’s mission, delivering a platform for engagement, and distinctive and restricted vinyl data and merchandise to a few of the world’s most devoted music customers.”
The worth of the transaction wasn’t disclosed.
“Tyler Lenane and his workforce at Gimme Radio constructed one of the vital sturdy communities of music lovers on this planet. By seamlessly mixing content material and commerce, they supplied die-hard followers with fixed unique entry to media and merchandise.”
Mike Fiebach, Mainfactor
Mainfactor describes itself as an “e-commerce-as-a-service and direct-to-consumer acceleration firm, specializing within the music and leisure business.”
It says it has constructed, managed and marketed greater than 500 e-commerce shops for “a few of the world’s largest artists, firms and types,” including for Run The Jewels and Chris Lake/Black E-book Data.
The corporate is backed by non-public fairness agency Upper90, a New York-based agency that has raised $520 million throughout 4 funds, which have made 44 investments to date, according to Crunchbase.Music Enterprise Worldwide
[ad_2]
