Deezer, the global audio streaming service, is becoming a cornerstone investor in DREAMSTAGE, a US-based live music streaming startup.
The new funding will enable the company to significantly speed up growth and expand its operations.
Musicians, entertainers and performers from all over the world are embracing the opportunity offered by live music streaming. The fast growing industry is expected to reach $6.4bn by 2027.
DREAMSTAGE’s technology has delivered over 50 live shows since launch. This has brought a rich live music experience into fans’ homes, and has provided a wide variety of musicians with the means to generate income during the pandemic.
DREAMSTAGE also offers artists the opportunity to go beyond ticket sales and brand sponsorships, by selling merchandising, VIP experiences, and raising donations. The platform is set up for the long term, developing Live Music Video as a new entertainment format and offering simulcast streaming opportunities for in-person concerts when live gigs start again.
Deezer’s investment will help accelerate the roll-out of DREAMSTAGE’s product, expand its range of content and grow market share. The companies will also look at new opportunities for how music fans can benefit from DREAMSTAGE’s live streaming capabilities.
“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. Music fans can finally enjoy an authentic concert experience that is more than just a video call,” said Deezer’s CEO Hans-Holger Albrecht.