Mandolin is one of the better-resourced music livestreaming startups, having raised $5m of seed funding in October 2020 then another $12m in July this year. Now it’s putting some of that money to use by acquiring another livestreaming firm: NoonChorus.
It’s likely a sign of more consolidation to come in this space. As NoonChorus founder Alexander Jensen told Pollstar: “Without raising a single investment dollar, we knew that in order to survive, NoonChorus had to team up with another player.”
Not that NoonChorus was unsuccessful as a standalone company: it has put on more than 400 concerts and generated $4m in ticket sales since launching in the spring of 2020.
Pollstar’s piece is worth a read for what Mandolin and NoonChorus have to say about the wider trends around livestreaming, including the impact of the return of physical concerts.
“We’re streaming more shows with an audience instead of shows specifically made for an online presentation,” said Jensen, noting that artists’ teams have less “capacity to spend on planning a virtual event” now that they’re back on tour. “The knowledge is there, the receptiveness is there, but the tactics are very different when you’re back on tour than the conversations we were having when everyone was literally locked in their houses.”