Santa Monica, Calif. — Digital Music News has released a roundup of funding for music-related start-up companies in 2011, with numbers that reached nearly $397.1 million.
Companies such as Spotify, Eventbrite, Shazam and Beyond Oblivion were a few of the companies who received bigger funding rounds than others — their combined funds accounting for $259 million.
Medium and smalled-sized companies like SoundCloud, Songkick, VibeDeck and Rdio were part of the list as well, proving that many companies are still investing in the music industry — although not necessarily in its legacy business models.
Related Links:
http://tinyurl.com/6377cr3 (Digital Music News)
It’s encouraging to see that investors are putting money into the digital music space again. With music consumption at all-time high, there seems to be a great opportunity for companies that can bring together the appetite for social and music experiences.