Pinterest For Music App Songdrop Grabs $150,000 From SOIC Capital
(UPDATE 3) London based Songdrop, a Pinterest-like online music playlist creator, has closed it's first investment round of $150,000 in seed funding from SOIC Capital. Users create mixes with songs from
across the web including YouTube, Soundcloud, Vevo, Pitchfork and blogs with a Drop It button.
Songdrop was one of the finalists in
last year’s EMI Innovation Challenge and TechPitch 4.5. The service is free to the
user, but paid mobile apps are in development as well as in-app
purchases to enhance the playback experience and monetize the app.
Several label execs have praised Songdrop for music discovery and capture. Jason Rothery, Direct to Consumer
and Artist Services Manager of Warner Music Group, says: "We are
discovering music via so many different channels now – blogs, websites,
YouTube, Twitter, Soundcloud etc and it is often hard to remember where you
heard what, meaning music can sometimes be forgotten.”
Songdrop was founded 2012 by Brittney Bean, Richard Taylor and James Towers. Chris Helm, previously UK Finance
Director with EMI Music Publishing, has recently joined the team as Finance
Director to develop the financial strategy for Songdrop.
Watch a demo:
Looks nice, but by taking Youtube-videos that should generate revenue though ads and play then just like sounds, there seems to be a huge greyline for this…
Smart yes, but does anyone here things its ok?
Doesn’t YouTube pretty much forbid any re-streaming of their content unless the video is present?
It’s great to act as an aggregator for all these services but once you start making a dime from it yourself, see yourself get shut down.