Music discovery app Tradiio launches in UK with $975k in seed funding

PRESS RELEASE:

Music discovery platform (www.tradiio.com) has launched in the UK, creating a unique, engaging destination for users to discover and influence the careers of up-and-coming artists.

Available on the web and via iOS and Android apps, Tradiioturns users into the next generation of talent spotters, letting them listen to,and virtually invest in, new artists. The useris able to discover exciting new talent and act as a tastemaker for others, as all the curation is done by users themselves with no editors involved.

Note: According to MBW, Tradiio just finished a round of seed funding which saw it raise$975,000 from venture capital firmEspirito Santo Ventures. It isis also backed by Innovation Management Software provider Exago.

Users that do the best job spotting talent gain credibility and earn virtual coins on the platform, which can be redeemed for rewards such as Field Day tickets, Bleep download store vouchers, AIAIAI headphones and Sonos speakers.

"Tradiio users can build up their credibility by spotting the best up-and-coming talent and be recognised as a tastemaker,” said Paul Benney, UK Managing Director of Tradiio. “Users get to listen to new artists and invest virtual currency in theones they consider to be the best."

“It’s a completely different experience than other, more passive music platforms that users don’t really engage with. Tradiio users are influencing thecareers of the artists they are listening to, as well as building themselves reputations among their peers, giving them an emotional linkto the platform."

Open to up-and-coming and more established artists,Tradiio is also a launchpad for musicians, allowing them to gain credibility and exposure, while offering themrewards and opportunities. These include a slot on theTradiio Stage at Field Day as well as benefits fromTradiio's label partnership withBelieve; access to studio time throughTradiio's partnership withMilocoand the chance to make a video thanks toTradiio's partnership withRadar.

"In Portugal, where Tradiio has been established for some time, Universal Music Portugal selects artists from Tradiio’s top 50 chart to distribute worldwide. No other streaming service offers the artist opportunities like this,” said Alvaro Gomez, CEO and Co-Founder of Tradiio.

Tradiio is free for users and artists to access through the www.tradiio.com website, on iOS and Android.