Learn Pitch Deck Social-Music Platform Hangout to Elevate $8 Million

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  • Hangout, a brand new social music platform, launched in November.
  • The platform now has over 1.1 million customers, who’re capable of stream over 100 million songs.
  • In August, the corporate closed its $8.2 million seed funding. Here is the pitch deck it used.

Joseph Perla thinks the way in which we take heed to music is due for a shake-up.

Spotify, the biggest music streaming service, has been targeted on AI and podcasting. And TikTok, a breakthrough platform for music discovery and advertising, may nonetheless be banned within the US.

Perla, CEO of social music platform Hangout, needs to make the music listening expertise extra human.

“I am constructing an entire new type of social platform that is targeted on connection and unity and concord,” Perla advised Enterprise Insider. “And I am doing that with music.”

Hangout, which launched in November, lets individuals join round music on each internet and cell by way of listening rooms the place customers can queue songs, chat, and uncover new music. Hangout has surpassed 1.1 million registered customers since launching, based on the corporate.

It isn’t the primary time Perla has constructed a music product. He was the VP of know-how of Turntable.fm, an analogous music service the place customers may collaboratively play music in chat rooms. Turntable’s authentic iteration ran from 2011 to 2013. It was relaunched by CEO Billy Chasen in 2021 with backing from Andreessen Horowitz. Chasen’s model has since rebranded to Deepcut.fm.

When constructing Hangout, Perla stated it was essential to safe rights to music off the bat. By partnerships with labels like Sony Music, Warner Music Group, Common Music Group, and Merlin (a digital rights company that covers impartial labels), Hangout is ready to host over 100 million full-length tracks on the platform. Customers may also join their Spotify, Apple Music, or Soundcloud accounts.

“That implies that we’ve content material for everyone’s style, everyone’s style,” Perla stated. “As we scale up the platform to increasingly customers, we may have a Hangout for you that matches your precise style, that has 5 different those that love precisely that type of factor that you just like.”

Hangout has each private and non-private rooms the place customers can take heed to music, however non-public hangouts do require a paid subscription. The corporate is utilizing a freemium mannequin for monetization early on, with paid subscriptions operating between $5 and $50 a month.

Perla stated Hangout additionally needs to be a hub for music advertising as artists put together to launch albums and excursions. It has already hosted listening events and AMAs with musicians, akin to Empire of the Solar, Greta Van Fleet, and Cage the Elephant.

Hangout’s launch comes at a time when customers are craving new social networking platforms.

“We do not need to be the all the pieces platform, however we predict what we have made a a lot more healthy method of getting a social expertise,” Perla stated.

Different social music apps have additionally gained traction up to now few years, like group-listening platforms Stationhead and social music feed Airbuds. Spotify itself has made a play in social listening, launching a characteristic referred to as Jam in 2023 that lets teams sync their listening. It has collaborative playlists, too.

In August, Hangout introduced that it had closed a $8.2 million seed spherical from buyers akin to Founders Fund, Elizabeth Road Ventures, and 468 Capital.

Learn the 26-page pitch deck Hangout used to boost tens of millions:

Notice: Hangout has redacted particulars and amended some pages in order that the doc could possibly be shared externally.


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