Music streaming app MonkingMe has appointed a new CEO, the company’s former chief content officer Ivet Anoro.
The app, which has been downloaded more than 4m times so far, offers a catalogue of free music to stream and download for offline listening.
It uses a virtual currency system – ‘bananas’ – that listeners can earn by interacting with video ads and quizzes, and spend on features within the app.
“In that regard, we closed 2020 with more than 300% growth. So far in 2021, we have already surpassed the total amount of songs ingested throughout 2020, reaching just over the 2.6m tracks available on our platform.”
“We are well aware that we still have a long way to run, though we have already built all the infrastructure needed to run a global music platform at scale. The main goal for 2021 is to end the year with new content milestones to focus on exponential user growth for the coming year.”
Anoro says that MonkingMe is preparing for the evolution of its app too – “towards something more social but still with the music at its core”. She praised her predecessor as CEO, Miquel Tolosa. “He’s been a fantastic leader and the best of the team’s catalysers.”
The in-app currency is one of MonkingMe’s most interesting features, especially at a time when tokens are the talk of the music town in other areas: NFTs for example.
“I am optimistic and convinced that it could revolutionise the way labels and artists monetise music consumption,” said Anoro about MonkingMe’s approach.
“Of course, some reluctance needs to be sorted out; however, I believe that a tokenised system is an excellent way to conceive new revenue streams, and if well done, it has the power to engage with targets until now untapped.”
“In a nutshell: there’s some pedagogy still to be done, but we are potentially in front of a rough diamond.”
On a personal level, Anoro says she is well aware of the significance of her position as a woman who is CEO of a music streaming service – a sector dominated by male bosses.
“I have mixed feelings. From one side, I think it’s sad to see fewer women than men in executive roles, not to mention the even fewer on company boards making the actual decisions,” she said.
“Nonetheless, I am confident this will change for good very soon. And, as I am saying this, I am also acknowledging that MonkingMe is also equipped to make that change and that we, as a company, need to have more progressive policies as we move forward.”
However, Anoro also said that she is tired of this being a topic for discussion, as she gets on with the job itself.
“Although I like the idea of setting an example for many young women out there starting their careers and figuring it all, I would like to be valued simply for my work, not for my performance as a woman in a specific role,” she said.
“My priority is to be the best possible CEO for this fantastic company regardless of gender or age.”