Startup Live Undiscovered Music, aka ‘LÜM,’ has just procured $1.2 million in funding.
Lüm is spinning a social streaming platform that aims to change the way that new artists stream and promote their music. The company also wants to transform how fans find, share and generally engage with music itself.
It’s a lty mission to ‘democratize music,’ though now there’s some fuel to test the idea out.
According to LÜM CEO and co-founder Max Fergus, the company hopes that the platform can help artists who have previously struggled with traditional streaming models. Additionally, the company wants consumers to be able to influence music trends without any other external influencers coming into play.
“LÜM is on a mission to create a platform where artists can finally succeed outside traditional streaming models, and fans can be the sole influencers – determining what music trends hit next.”
LÜM also announced a strategic partnership with Frank Productions. Given its status as one the largest U.S. concert promoters, Frank Productions has the potential to help LÜM find ways to better connect with live music consumers in addition to those who prefer digital content.
The company says it wants to ‘bridge the gap between live and digital music consumption’.
The LÜM Board Directors added Frank Productions’ Director Business Intelligence, Dan Polans, to its ranks.
LÜM says that their platform provides new artists with unlimited uploading and sharing their digital content. It also fers collaboration tools to facilitate greater creative pair-ups.
For fans, the LÜM app removes traditional audio advertising and premium accounts entirely from the equation. Fans can also connect directly with artists as superfans and receive exclusive content.
So will it work? Right now, the concept is in beta. The company is inviting emerging artists and music fans who want to help LÜM with the creation this platform to become early testers. After testing this spring, LÜM plans to ficially release the app later this year on iOS first.