We’ve written a lot this year about how lucrative the livestream business is getting, with artists having little choice but to turn to the format due to the pandemic.
Over the past few weeks, we’ve learned that new platforms like Moment House are attracting investment from high-profile music execs, while TikTok rival Triller is reportedly in merger talks to go public in the US.
It now looks like there’s another new and very well funded player in the US market for these companies to compete with.
Taiwan-born live streaming app LIVIT has officially launched in the US. It has also struck what it describes as a “major six-figure” and exclusive streaming and content creation partnership with rapper Flawless Real Talk, who was a contestant on the Netflix reality series, Rhythm + Flow.
Powered by Taipei-headquartered social entertainment company M17, which raised $26.5 million in May, LIVIT claims to have more than 40 million registered users worldwide.
LIVIT, which launched in 2019, is the English market version of M17’s flagship live platform 17LIVE, which launched in 2015. The company also operates Meme Live and live streaming shopping platforms HandsUP and FBBuy.
TechCrunch reports that M17 has raised $100m so far.
LIVIT claims to be a “curated live streaming mobile app where entertainers, performers, artists, influencers, and rising stars broadcast their own live shows”.
It seems that, while everyone with an Android or Apple device can download the app to watch livestreams, not just anyone can start streaming their own content.
“As a curated app, we have a very specific talent profile that we recruit for,” states the company on its website. “This means you must audition to become a streamer on LIVIT.”
Once you’ve passed the audition stage to start streaming with LIVIT, the app then allows its users to monetize their streams. People watching a live stream have the option to “gift” or donate money to streamers.
LIVIT claims that the partnership with Flawless is its first step to “embracing the world of hip-hop and creating a new home for artists”.
Beginning today (October 22), Flawless will stream exclusive behind-the-scenes content from studio sessions, workshops and day-to-day life and more.
The rapper will also promote charitable causes, with a monthly live streamed visit to charities, shelters, food banks, hospitals, fire stations and more.
“Finding a platform that could help me connect with fans around the world while monetizing and giving back to those in need, was the deciding factor for me, and LIVIT was the perfect match.”
Flawless Real Talk
Flawless said: “Finding a platform that could help me connect with fans around the world while monetizing and giving back to those in need, was the deciding factor for me, and LIVIT was the perfect match.
“Live streaming is the next big craze to hit America. People want a real connection on social media and users on LIVIT will immediately experience how powerful that connection can be.”
“Live streaming provides a platform to build your career, connect with your fanbase, while monetizing your time online.”
Armin Collosi, LIVIT
VP of Operations for LIVIT in the USA, Armin Collosi, added: “At a time when everyone is staying home to stay safe, there has never been a more ideal time for aspiring music artists and performers to create their own success on LIVIT.
“Live streaming provides a platform to build your career, connect with your fanbase, while monetizing your time online.
“For those at home watching, it’s a safe way to socialize and make new friends.Music Business Worldwide