Music

Prism.fm Closes $5M Series B Funding Round

Prism.fm Closes M Series B Funding Round

Stay music administration software program firm Prism.fm has introduced it has closed a $5 million Collection B funding spherical as live performance revenues in 2023 soar.

Andrew Lindner of Frontier Progress led the hassle, investing $1.55 million via a syndicate funding pool with different members of Frontier Progress’s ecosystem. Current ivnestors additionally participated on this spherical, together with Stephen Prepare dinner, Jay Jensen, Kip McIanahan, Benefit Capital, Wealthy Arnesen, and extra.

Prism.fm says the brand new capital will likely be invested in product, engineering, and go-to-market technique for the business main platform that brings venues, businesses, and promoters collectively in a single system. Prism’s CEO Matt Ford says that Prism has already been used to plan a whole lot of 1000’s of reveals at over 10,000 venues worldwide.

2023 has been a booming yr for concert events due to Taylor Swift and Beyoncé touring, but it surely’s additionally been the most effective yr for touring artists but. Pollstar reported its high 100 grossing excursions this yr collected a complete of $9.17 billion—surging 46% in comparison with 2022. Roughly $2.61 billion got here from simply the highest 5 grossing touring artists—Taylor Swift, Beyoncé, Bruce Springsteen, Coldplay, and Harry Types.

Taylor Swift’s success together with her “Eras Tour” landed her as the one touring artist to have grossed over $1 billion. In the meantime, Beyoncé grossed $580 million, surpassing Dangerous Bunny’s huge tour run of $393 million in 2022. For the primary time in fifteen years, the highest two charting artists are ladies. The final time this occurred was in 2008 when Madonna and Celine have been each touring the globe.

Prism.fm is a brand new reserving software that solves productiveness points for music business professionals. The workforce behind it constructed it from the bottom as much as vastly scale back the work required to handle a music calender, ship presents, market, advance, and settle reside music reveals with venues and promoters. It’s constructed by music professionals who’re aiming to assist touring artists attain new gross income heights in 2024.

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