San Francisco-based blockchain-based music platform Audius has acquired Barcelona-based virtual music experience platform SoundStage.fm.
The move marks Audius’ expansion into the virtual concert space.
SoundStage.fm focuses on electronic dance music founded in 2019 by Ara Kevonian.
According to a press release announcing the acquisition, SoundStage.fm’s virtual concerts allow fans to “participate via webcam and interact with both audience and artists in a lifelike way”.
Launched at the end of 2019, Audius counts more than 4.5 million monthly users. It also start cooperation with TikTok in August 2021, becoming the first music streaming service to do so.
In September 2021, the company announced a $5 million round strategic funding featuring major industry players including Maverick Founder Guy Oseary’s Sound Ventures, SESACJohn Josephson’s, and former Sony Music Publishing (afterward Sony/ATV) boss Martin Bandier.
Audius says its acquisition of SoundStage.fm is a key component of the streaming company’s expansion into the music sector.
The company’s expansion into the virtual entertainment space follows the trend of music streaming platforms diversifying their businesses through technology acquisitions.
Music platform born in France Deezer for example, recently expand further enters the world of live streaming through UK-born streaming company Driift, which has acquired another Deezer-backed live streaming platform called Dreamstage.
Deezer buying a minority stake in Drift last October and launched the strategy investment at Dreamspace in May 2021. The company said it later became a major shareholder of Dreamstage, before being acquired by Drift.
“In SoundStage.fm, Ara has created a powerful new environment for artists and fans to interact.”
Forrest Browning, Audius
“In SoundStage.fm, Ara has created a powerful new environment for artists and fans to interact,” said Forrest Browning, Co-Founder and Product Manager at Audius.
“There is an ambitious product roadmap for SoundStage.fm as we partner with Ara to create new virtual experiences for music fans.”
“SoundStage.fm has built one of the most engaging environments for artists and their fans to meet virtual and is a natural extension of what the Audius community is building.”
Roneil Rumburg, Audius
Audius CEO and co-founder, Roneil Rumburg, said: “At Audius, we are always excited to expand the ways in which artists can interact with their most passionate fans.
“SoundStage.fm has built one of the most engaging environments for artists and their fans to meet virtual and is a natural extension of what the Audius community is building.
“We are delighted that artists who love Audius connect with their fans in the SoundStage.fm supermarket.”
“My intention with SoundStage.fm is to create the next best thing for a physical concert. The aim is to provide an experience that allows fans and artists to interact as they are. “
Ara Kevonian, SoundStage.fm
SoundStage.fm CEO and founder, Ara Kevonian, said: “My intention with SoundStage.fm was to create the next greatest thing for a physical concert. The goal is to deliver an experience that allows fans and artists to interact as they are.
“As we have discovered, the human element has proven to be a key factor in recreating lost excitement in existing virtual concerts and live streams.
“I am delighted to bring SoundStage.fm to Audius and join the Audius ecosystem. Roneil and Forrest share the same vision of delivering more unique and engaging fan experiences while giving artists full creative freedom.”
Worldwide music business
