The company

The company has launched a two-sided platform, facilitating 40+ recording studios across the country, and have 600+ registered users (musicians), who rents the studios on an hourly/session basis.

Why introduce the solution now

Convenience is key

Convenience and efficiency are becoming important factors across most industries. The same goes for musicians, who just want to focus on creating music.

Sharing economy

Sharing economy is booming and has been so for over a decade. But the music industry hasn’t fully adapted yet, even though it’s one of the industries that could benefit the most.

On-demand

Musicians want the professional sound that can only be recorded in a real studio, but there are no on-demand or ideal solutions for when the inspiration hits them.

Customers

The customers are typically male musicians between 16 and 35, but by having a rather small sample, and having experienced both female and older customers, the company does not yet wish to conclude that this is their main target group, and they continuously analyze all data coming in to become more concrete on the main customers.

Revenue model

All users sign up for free, the company takes a 16% commission of all bookings. They also have a subscription model for 149 DKK a month, where the commission is reduced to 8%.

Team

A – CEO, has been writing music for 15+ years, and actively been a part of the Danish music industry for the last 5 years. He has a master’s degree in communication and is currently in charge of strategy and economy, where he has to this day soft-funded close to 1.2 mio. DKK, with most coming from the Innofounder Graduate program and a recent Innobooster grant.

B – CEO, has a large network in the music industry, and has the responsibility for marketing and sales, including marketing on SoMe, SEO, Google Ads, and creating content such as blogs, podcasts, and newsletters. Strong ongoing contact with all the customers and providers.

C – CXO, is a UX/UI designer with a focus on product-market fit and draws on his experience as a design lead at Microsoft and previous tech-startups. He has designed the company’s entire platform and has the responsibility for how the company is presented externally and visually.

D – CTO, is a full stack developer with over a decade of experience in building solid, fast, and scalable platforms, and has, among other things, been an award-winning developer at the tech company Dwarf. This is also the role he takes on as CTO in the organisation, where he is the architect behind the entire platform.

Traction

• 41 studios onboarded
• 600+ users
• 82 sales (avg EUR 135)
• 36,4% repeat customer rate