RadioIO buys CrowdStream
Streaming curated music provider RadioIO announced a buy of the mobile app business of Crowdstream to strengthen its relationship with artists and their fans. The purchase price was RadioIO common stock and cash.
CrowdStream, a free mobile app that enhances the event experience and creates additional revenue streams for artists, allows fans attending live events to use social media and mobile technology to connect with each other and interact with artists during those events.
CrowdStream enables artists to engage with their fans when they’re most excited: while they’re at the show. Fans are able to interact with other fans at the event, and can win various prizes through the app, ranging from signed merchandise to meet & greets with the artist. In-app purchases of tickets and merchandise, and ad hoc sales, music downloads and fan club memberships, create additional artist revenue.
“RadioIO is delighted to acquire a business which was established to help artists engage and monetize their fan base in new and creative ways,” said RadioIO COO Julia Miller.
CrowdStream has powered mobile engagement for over 150 artists, including Motley Crue, Neon Trees, Shinedown, and The Wanted. RadioIO plans to expand the offering to more artists and continue to develop additional tools to connect fans and artists.
“Our vision has always been to connect artists with fans in meaningful ways, both online and offline,” said Crowdstream CEO Brian Bason. “By joining RadioIO, a company that shares our vision, our combined offering will build deeper relationships with the artists and fans we love. We are thrilled to be a part of this team and can’t wait to see what we can build together.”
RBR-TVBR observation: This is a good leg-up for RadioIO, which has been in business for years but has not attained the fame of Pandora or Spotify. RadioIO focuses on a variety of quality curated music streams—no thumbs up or thumbs down—you get what you get, and it’s usually pretty good. If you like the Grateful Dead, no one does it better than “RadioIo Dead.” CrowdStream would play well into Furthur concerts, which includes remaining members of the Dead, sans the departed Jerry Garcia.