Social music platform Stationhead has closed a $12 million Series A financing round led by Buttonwood Group Advisors.
The startup has also secured investment from a heavyweight list of music industry backers, including Red Light Management, TMWRK, Round Hill Publishing, Avex Entertainment, Craig Kallman and Julie Greenwald of Atlantic Records, Kevin Liles of 300 Entertainment, and Jason Flom of Lava Records, and DJ, songwriter and music producer, Diplo.
Stationhead plans to use the capital to accelerate the scale of its global platform, and invest in engineering and user experience.
Stationhead says that it allows users to create “global stations in seconds” where they can stream music, talk live, and connect with other users.
Artists launching stations on the platform so far including BTS, Imagine Dragons and Cardi B, among others.
Since launching out of beta in 2021, Stationhead says that has reached five million users with 30,000 stations across 200 countries.
Stationhead claims that singular live streams on the platform have exceeded 600,000 people and all users are averaging over two hours per day on the platform.
Users can also seamlessly integrate music and chatting with Stationhead’s functionality to take live-calls or co-host shows with other members.
Additionally, Stationhead has hired Andrew Cornett as Principal Product Designer, to oversee the design and engineering of new technology and products for the platform.
Cornett joins Stationhead with over ten years of experience in product design and engineering.
Prior to this, Cornett was Product Designer for HEIR, digital platform to connect athletes with fans, Product Design Director at music software company Splice, and iOS Engineer for Universe Inc, a website building app.
He also worked at Kickstarter, designing the company’s first iPhone app and Co-Founded Jukely, a monthly concert subscription app.
Cornett’s initial work will be focused on engagement and discovery tools like the new ‘Channels’ feature, which acts as a “community hub” for artists and fans and highlights the top performing stations on the platform.
The inaugural ‘Channels’ features artists who have used Stationhead to engage directly with fans including, BTS and Nicki Minaj.
Stationhead claims that the BTS Channel hosted over 600,000 fans in one day, making BTS’ channel “the largest social audio channel in the world”.
“Stationhead is the next evolution of music online. By building this with great empathy for artists and fans alike we have grown to become the preferred global platform of the new generation to consume music together.”
Ryan Star, Stationhead
CEO and Co-Founder of Stationhead, Ryan Star, said: “Stationhead is the next evolution of music online. By building this with great empathy for artists and fans alike we have grown to become the preferred global platform of the new generation to consume music together.
“On release week, we are the heart of the action. The completion of this raise signifies Stationhead’s growing & pivotal role in the entire music ecosystem.”
“We look forward to the company’s continued growth and innovation as a business”
Joseph A. Alagna, Joseph Gunnar & Co. / Buttonwood Group Advisors
Joseph A. Alagna, Chairman & CEO of Joseph Gunnar & Co., and Founder & Co-Manager of Buttonwood Group Advisors, added: “Stationhead has gained significant traction with its unique social streaming platform which has been quickly adopted by both listeners and artists.
“We look forward to the company’s continued growth and innovation as a business.”
“Stationhead has become an integral part of music releases, adding a brand new way for fans and artists alike to celebrate new releases together on a global scale all while driving music up the charts.”
Murray Levison, Stationhead
Murray Levison, Stationhead Co-Founder & COO, said: “Stationhead has become an integral part of music releases, adding a brand new way for fans and artists alike to celebrate new releases together on a global scale all while driving music up the charts.
“Artists like BTS, Cardi B, NBA YoungBoy, & Stray Kids have successfully used Stationhead to create amazing experiences with their fans and drive their music to No.1. These incomparable artist-fan encounters have transpired organically and reflect the unique value that Stationhead offers.”Music Business Worldwide