Online radio platform RadioIO has acquired mobile fan engagement app CrowdStream. CrowdStream enables artists to engage with their fans while they're at a live concert. The purchase consisted of both RadioIO common stock and cash, but no other details have been released.
CrowdStream has powered mobile engagement for over 150 artists, including Mötley Crüe, Neon Trees, Shinedown, and The Wanted. Fans can interact with other fans at the event and win various prizes through the app like signed merchandise to meet & greets. In-app purchases of tickets and merchandise, music downloads and fan club memberships create additional artist revenue.
RadioIO says they will expand the offering to more artists and continue to develop additional tools to connect fans and artists.
Radioio (OTCQB:RAIO) is an internet radio platform that delivers streamed music and other audio on connected devices. In addition to consumers, RadioIO offers background music and messaging to retail and to the hospitality, health and wellness industries.