Thursday, January 20, 2011


Wellington music site Musichype have just landed a $600,000 investment. They plan to use the money to open an office in Los Angeles, hoping to make inroads in North America. Musichype released the most recent recording from the Mint Chicks as a USB. From the Dominion Post...
"A Wellington-based website that connects bands with their fans is looking to take Kiwi music to North America after winning $600,000 in venture capital from the Rutherford Innovation Fund.

MusicHype is an internet platform that rewards music-lovers for promoting, talking about and spending money on their favourite bands and artists. The website has been operating for a year, and uses technology known as the 'Appreciation Engine' to track fans activity across social media and rewards them with merchandise, concert tickets and downloads.

"We can tell if a fan is tweeting about a band, becoming their friend on Facebook or watching them on YouTube and we can reward them for that," says MusicHype's Annabel Youens....

... Rutherford, a fund linked to Christchurch-based NZ Capital Strategies, says MusicHype's technology has the potential to be used in a wider sense. "We invested in MusicHype because the music industry has been disrupted by the internet and digital technologies," said NZ Capital Strategies director, and Rutherford Innovation Partner, Kenji Steven.

"Established business models are not providing adequate returns for record labels and artists, or satisfying experiences for fans," he said.

Full story here, from the Dominion Post

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