How a Blockchain Startup Is Using Data to Revolutionize the Music Industry
Slovenian music startup Viberate, founded in 2015, was one of the first in the country that managed to successfully acquire funds for their startup with an ICO. Their overnight success set an important milestone and encouraged many other entrepreneurs to follow.
Today, Viberate is growing faster than ever in their mission to change the music industry. The blockchain-based company is the world’s largest curated and crowdsourced database of musicians, music venues, events, booking agencies and other music stakeholders (a so-called “IMDb for music”) that is collecting and analyzing billions of data points daily. With more than 1 million profiles of artists, events and venues, it is the most powerful tool for analyzing and predicting trends on the music scene.
Not only is their platform recognized by some of the biggest artists such as The Chainsmokers, Robbie Williams, Richie Hawtin, San Holo, Imogen Heap, and Showtek, their token VIB is also widely spread across more than 15 exchanges including Binance, Bittrex, OkeX, HitBTC, UPbit and many others.
On top of that, some of the biggest decision makers from the music industry recognized Viberate as an important data partner that can help predict music trends and understand the breakthroughs on the scene. A few months ago, the company became the official Data Partner of #1 US awards for electronic music – International Dance Music Awards. Their music science team populated the IDMA artists categories and presented a set of nominees based on true artist popularity, free from industry favouritism and politics.
Viberate’s business solutions
At the beginning of 2018 Viberate signed partnerships with 4 of the biggest ticket providers: Ticketmaster, Skiddle, Eventbrite and Eventim. And while the database was growing, the team developed several unique business solutions that will completely reinvent how decisions are made in the music industry. One of them is Tonight app, the hottest event discovery app in Slovenia right now. It features thousands of events, enabling event discovery by matching users’ taste. Just a day after its release in Slovenia, Tonight became the most downloaded app on the App Store and Google Play.
While one part of the team was developing the event discovery app, the other part was focused on developing Mainstage – a dynamic mobile app for music festivals. Mainstage is a one of a kind solution for small and medium festivals that can now, for the first time ever, create their own communication and promotional channel. With auto-generated content-rich lineups sourced from Viberate, artists profiles will be updated with their latest content automatically and most importantly for a much cheaper cost than developing a solution from scratch. Mainstage signed partnership agreements with several festivals already, giving the festival goers a chance to enjoy in the unique app of their favorite festival this season.
The third solution Viberate is developing will probably solve one of the biggest problems the music industry is facing – data chaos. There are millions of musicians and venues out there with various music services using different IDs for them, which creates huge costs in data curation and naming chaos. So Viberate is introducing Unique, a solution that is for the first time in the history of music industry bringing completely standardized, data-enriched profiles from hundreds of thousands of musicians and venues, featuring the latest content and updated information. Viberate Unique will be integrated into the largest services connected to the music industry.
The final solution is a little bit of a mystery. At the moment, the Viberate team is focused on developing their new platform Viberate.com, that will completely change the way decisions in the music industry are made. The platform, which will open the possibility to predict music trends like never before, discover the artists with the biggest potential to grow and develop a deeper understanding of what the future of music scene will look like. More on that will be available in the months to follow.
Where to catch Viberate next
A week ago, Viberate˙s COO Vasja Veber & Bitcoin pioneer Charlie Shrem met in Miami, where they had a great panel and an interview for CNBC about where the blockchain technology will be in 3 years and how it will improve the music industry. The next day, Vasja had a special keynote at the Winter Music Conference, where he impressed the music industry leaders with an in-depth music report, analyzed the breakthroughs of 2018, and revealed the superstars of the future. The report is available here.
In May, Viberate’s team is headed to Webit – The biggest European innovation and tech event of 2019 and to the International Music Summit in Ibiza, where they will talk about the integration of their business solutions to improve other services.
But the moment the whole industry is waiting for is definitely the reveal of their advanced metric system that will give every artist, event organizer or agency an opportunity to take their career, business or product to the next level. What we know so far is that it will happen during TechCrunch Disrupt in San Francisco. Until then, you can find out more about their progress by following them here:
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