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Warner Music Group owners back music ticketing platform

| Beauhurst

Category: Uncategorized

This week our deal of the last 7 days goes to one of Silicon Roundabout’s original superstars: Songkick.

One of Silicon Roundabout’s standout successes, Songkick  is primarily an online ticketing platform for music events, and also allows users to track artists and engage with other attendees.

Founded in Shoreditch in 2007, the company first raised  $15,000 from YCombinator. Six investment rounds and an acquisition  later, the startup is active in more than 60 markets and counts over 12m users a month. 

Key players:

Ian Hogarth, Chairman and Co-Founder

Matt Jones, CEO

Who invested

Following on from two previous rounds, Access Industries led the round, with other unknown investors also participating. The US holding company notably owns Warner Music Group, and has also invested in Deezer, a web-based music streaming service.

Who are they up against?

As well as established players like Ticketmaster and TicketWeb, Songkick might need to contend with some homegrown competition.

Dice have developed a mobile app ticketing service which does not charge booking fees and claims to be 100% “tout-proof”. Founded in 2014, the company has raised £6.53m over 3 fundraisings. Most recently, DICE raised $6m  on 26/08/2016 from Designer Fund, Evolution Equity Partners, Kima Ventures, and White Star Capital. Although its stilll early days for the app, we think a streamlined service with no extra charges and protection from touts could do a lot to shake up the ticketing industry – Songkick, watch out! 

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