Platform For Streaming Music
Mugatunes is a platform that enables music enthusiasts to write about, share, and curate new songs.
Music streaming is a massive industry. According to Billboard, streaming revenues in the U.S. reached $3.4 billion in 2017.
Services like Spotify and Pandora recommend music based on computer algorithms, or feature "playlists" that contain songs that music labels have paid to add.
Mugatunes is different. Songs and playlists are selected exclusively by music listeners themselves.
Bloomberg described Mugatunes as “the modern mixtape”…
And USA Today called it “the next big thing in music sharing.”
Users simply submit an application to become what the company calls “tastemakers.”
Once approved, tastemakers post new songs, curate hand-picked playlists, and recommend artists to other listeners.
Listeners, meanwhile, enjoy free songs and playlists created by other music enthusiasts.
Mugatunes generates revenue through targeted advertising campaigns, specifically in blog entries and in select playlists. These ads are often designed to introduce listeners to up-and-coming artists.
This business model is similar to the one used by Spinnin’ Records, a music curation distribution channel that was acquired by Warner Music Group for $100 million.
Mugatunes expects to reach $1.2 million in revenues in 2018, and $12 million in 2019.