MySongbird Announces Crowdfunding Campaign for On-Demand and Live Concert Streaming

By James White Sunday, March 21, 2021

Streaming services for movies and TV shows like Netflix, HBO, and Disney+ are thriving, especially as quarantine continues into 2021. However, other startup companies and businesses are seeking to bring different forms of media to the streaming industry. Startup streaming business mySongbird recently launched a Wefunder crowdfunding campaign for its company, which seeks to bring on-demand and live concert performances to viewers’ devices through a convenient app.

"We're offering investors the unique opportunity to invest in the classic artists they admire to aid us in our mission to bring unparalleled musical entertainment to streamers with a special appreciation for live performances," said Mike Mountford, founder and CEO of mySongbird.

The startup business aims to raise $5 million from crowdfunding investors to develop its mySongbird app and streaming platform. Interested investors can support the startup streaming company for as little as $250, and will receive better terms if they are a part of the first $200,000 raised in the priced round. Pre-IPO shares in the streaming company are currently going for $0.11 per share. So far, mySongbird has drawn in $178,118 from investors eager to back the startup business and assist in the development of the new streaming app.

A crowd at a music concert.

Experience Live Performances Anywhere

Founded by Mountford in 2020, mySongbird seeks to bring the excitement of live music entertainment to fans wherever they are. Music lovers can simply sign up for a mySongbird membership to gain access to the catalog of around 500 performances and music documentaries offered by the startup streaming business. The streaming platform built by the startup company already boasts big names in the music industry like U2, Ed Sheeran, Imagine Dragons, and The Killers.

The startup business is also developing an over-the-top (OTT) app available on Roku and Apple+ devices, functioning in the same manner as channels from companies like Netflix and Hulu. Furthermore, new concerts expected to launch on the streaming platform and app will be recorded using trademarked technology that allows viewers to choose a specific perspective of the performance while watching.

Aside from subscriptions, mySongbird plans to bring in revenue from merchandise sales, premium events, and advertising opportunities. The streaming company also wants to direct 20% of net proceeds from its business toward green technology investments.

Joining the Music Streaming Industry

While giant companies like Apple, Amazon, Spotify, and YouTube currently control a massive portion of the music streaming market, mySongbird desires to become a one-stop shop for live and on-demand concert performances, giving its app and service a unique niche in the music streaming industry. According to a report from Goldman Sachs, global music revenues are expected to reach $142 billion by 2030, with paid streaming subscriptions making up an estimated $1.2 billion.

About the Author

Headshot of James White

James White is a Michigan State University graduate with a BS in Environmental Biology. He is interested in reporting emerging trends in technology, especially with regard to alternative energy and environmental conservation.

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