2 year old music discovery site Plug.DJ has received $1.25 million in funding to fill the void left by the closure of Turntable.fm. The seed funding round for the previously bootstrapped startup was led by Javelin Ventures, and will be used to expand their team and fund development.
The Plug.DJ site has the look and feel of of Turntable.fm including roons with a DJ and avatars in the audience. But this crowd appears to be actively engaged in the music and the community surrounding it. “It’s not a novelty to them,” company CEO Alex Reinlieb told TechCrunch. “It’s a very, very sticky experience.”
Engaged & Expensive
The site claims regular users "in the millions" spread over 190 countries; and they spend over an hour during most visits, averaging 5-10 hours per week. If the trend continues as more users discover the site, that's a very engaged audience.
But how will Plug.DJ pay for all of this streaming? For now, the startup only offers vague answers; and that's the hurdle that Turntable.fm ultimately could not overcome.
PLUS: Listen to the lastest epsisode of the Upward Spiral podcast: