Image credit: Deezer
Deezer joins the push for live streaming post-pandemic by investing in DREAMSTAGE.
As the world slowly opens up there are still doubts to as when or how live events will return, properly and safely. Especially with the announcement of the new variant that was first found in India. With this in mind, many companies and artists are looking to live streaming events that grew in popularity exponentially during the early stages of the pandemic and subsequent lockdowns.
Recently, companies such as Bandcamp have announced they will be pushing into the live stream sphere with their own platform Bandcamp Live. The live streaming industry is one of the fastest-growing sectors within the music industry and is expected to reach $6.4 billion by 2027.
Now, Deezer is looking to future-proof their business model by investing in DREAMSTAGE, U.S-based live music streaming startup. The new funding will allow the company to speed up growth and expand its operations.
DREAMSTAGE has run over 50 live stream shows so far bringing a rich live music experience into fans’ homes. Not to mention allowing musicians to generate income during a period of live music hiatus. The startup offers artists the opportunity to go beyond ticket sales and sponsorships by allowing them to sell merchandise, VIP experiences, and raising donations.
Speaking on the investment Deezer’s CEO Hans-Holger Albrecht said: “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.” He adds: “DREAMSTAGE and Deezer share a vision of supporting talent across a wide variety of genres. Live shows provide musicians with crucial revenue opportunities during these challenging times. This aligns closely with our mission to connect artists with their fans through our Originals projects, recorded sessions and editorial content.”