Deezer has taken an investment in Dreamstage, a US-based livestream start-up. The new funding will enable the company to significantly speed up growth and expand its operations.
Dreamstage’s technology has delivered over 50 live shows since launch.
As well ticket income, Dreamstage also offers artists the opportunity to go beyond ticket sales and brand sponsorships, by selling merchandising, VIP experiences and raising donations. The platform is set up for the long term, developing live music video as a new entertainment format and offering simulcast streaming opportunities for in-person concerts when live gigs start again.
Deezer’s investment will help accelerate the rollout of Dreamstages’s product, expand its range of content and grow market share. The companies will also look at new opportunities for how music fans can benefit from its livestreaming capabilities.
The companies will work closely together to find synergies and opportunities for co-promotion. Deezer and Dreamstage are also closely aligned in their support of both local and international artists and genres across the world.
“We believe that Dreamstage is the best live music platform on the market today,” said Deezer’s CEO Hans-Holger Albrecht. “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."
“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.”
“Dreamstage is rapidly developing as a leading premium player in the thriving streaming concert business, creating unique moments for artists and fans to connect across the globe,” said CEO Thomas Hesse. “We are excited to join forces with Deezer who share our vision to innovate and capture this massive new opportunity. Together, we will nurture and propagate the emerging Live Music Video format, and help artists grow and delight virtual audiences everywhere. We are thrilled and honored to transform live music for the long term with Deezer as a visionary entrepreneurial partner.”
According to MIDiA research, the fast growing livestreaming industry is expected to reach $6.4 billion by 2027.
Dreamstage is led by its three founders: CEO Thomas Hesse (former President of Sony Music for global digital business and US sales/ distribution), CTO Scott Chasin (serial entrepreneur with a track record of founding start-ups, including ProtectWise and MX Logic) and artistic director Jan Vogler (cellist and director of the Dresden Music Festival).