CÜR Media Raise $2m To Launch Music Streamer For Casual Listeners
CÜR Media have raised $2 million in funding just weeks after missing their deadline for payments to major record labels, putting them back on track with their music streaming service.
After successfully raising $2 million in investment from Intuitive Venture Partners and Katalyst Securities, CÜR Media are back on track with their music streaming service. CÜR Music is currently in public beta and upon launch aims to be the service for the casual listeners, with prices starting at $1.99 a month. CÜR Music works like Pandora with a radio-streaming style format and has two tiers of subscription: Octo for $1.99 and Inked for $4.99 a month.
Founder and CEO of CÜR Media, Tom Brophy said: “I’m pleased to have completed this financing and to move our company one step closer toward the launch of CÜR Music. I’m grateful for my team who have worked diligently to prepare a terrific and competitive product for consumers at a price-point of $1.99 per month that works for the masses.”
This $2 million raise is a significant step forward in our plans to officially launch @CURmusic https://t.co/DqrU2PkxU5
— CUR Media, Inc. (@CURMedia) April 13, 2016
Although their CEO seems assuredly optimistic at this point, their funding comes after CÜR Media missed $8 million in advance payments at the end of January. With their investment they have been able to pay $500,000 of their owings to labels but that still leaves a large $7.5 million of payments due by a new deadline of June 15, 2016. CÜR Music haven’t mentioned how they plan to find so much money in two months but they’re showing no signs of impending doom.
CÜR Music could provide a unique service with it’s low paywall drawing in all the people who are interested in streaming music but not ready to pay $10+ a month. Whether it will manage to attract enough people to make it out of this hole is another story but all the best to the startup streamers.
You can head to www.curmusic.com to find out more and sign up to be notified when CÜR Music launches.