Northzone

Growth investors since 1996

Spotify1 Web2

Welcome to the family, Soundrop!


We are thrilled to welcome Soundrop, the hottest social music destination, to our portfolio. Headquartered in Oslo and founded by entrepreneurs who believe music sounds better with friends, Soundrop is reviving the concept of jukeboxes.

We are thrilled to welcome Soundrop, the hottest social music destination, to our portfolio. Inge Sandvik and his team have built a great product, attested by the fact that people love to use it. Soundrop has a rapidly growing community of loyal users who tune in and/or create collaborative "music hangouts" that bring back to life the concept of jukeboxes. Being big believers in sticky products that have the power to reinvent industries, we were blown away by Soundrop's scalable design and innovative growth strategy. The team's decision to put all its efforts on developing only on Spotify -another Northzone company- to begin with so as to get things really right is already paying off. Twenty days after launching on Spotify, the company saw some 2,5 million tracks being played across several hundred music hangouts. This skyrocketed over the following 6 months, making Soundrop one of the most popular and fastest growing applications to date in Spotify's App Finder. Over the last month, Soundrop users have held more than 3.3 million listening sessions, created more than 7000 rooms and listened to almost 60 million songs, underscoring the claim that it is more fun to consume music socially.

The great thing about Soundrop is that on the consumer end it is intuitive, fun and social, whilst also helping enrich the music ecosystem by building brand value and consumption opportunities for artists and labels. So the effect is a win-win situation for all. Artists such as Carrie Underwood, Kelly Clarkson, The Smiths, Iron Maiden, Carl Cox, Silversun Pickups, Sigur Rós, One Direction and many others have already understood the brand value that Soundrop creates for them through official rooms created just for their fans. One concrete example of this is Universal Music (an official partner to Soundrop), who saw one room for dance music DJs Sebastian Ingrosso & Alesso pick up 28 million OTS users (a traffic metric standing for “opportunities to see”) since its launch. This shows a real ROI to artists who are looking for innovative ways of reaching out to their fans.

It will be fascinating to see how the company progresses as they develop the offering further and extend onto other channels such as mobile. In the meanwhile, check out what all the fuss is about- sign up for Soundrop on Spotify.


13/06/12




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