A streaming music service that’s profitable on a global basis? What financial witchcraft is this? But yes, streaming playlists service 8tracks remains in the black. “We’re still profitable!” said CEO David Porter in an interview with the Guardian, in which he talked about the service’s demographics: 8m people listening to 30m hours of music a month, and “squarely in the college demographic. 50% of our audience is 18-24, and 75% is 18-34” according to Porter. “We have a much more youthful audience than most, and we skew very indie – almost two thirds of our streaming comes from independent labels and artists.” 8tracks is trying to forge stronger relationships with those labels now, including at some point direct licensing deals. “Some indie artists discover their traffic has blown up on SoundCloud, then find 75% of the new plays came from 8tracks. So their label will often send us a note: ‘this artist is resonating with your audience, so how can we work more closely with you?” he said.
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Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…