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Live Streaming Music App Spotlite Raises $10 Million

image from crunchbase-production-res.cloudinary.comSpotlite, "a direct to fan app that caters to the artist," has raised $10 million in a round led by Sequoia Capital China and BlueRun Ventures. The free app is often described as,“American Idol meets musical.ly.”  Spotlite's nearest direct competitor is Smule, but artists don't earn money on that platform. 

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image from www.spotlite.me

The free Spotlite app offers independent artist a platform to sing original and cover songs to gain exposure, fans and make money.  With $10 million in new funding,  the startup will expand and further develop the app

Spotlite has partnerships including Sony/ATV and Universal Music Group that allow artists to legally cover a broad spectrum songs. Spotlite has a several tiers of revenue sharing with music publishers.

Artists, musicians and vocal talent can compete in free contests in many styles and categories to win cash. Fans can buy Spotlite coins at about a penny a piece that are used to vote for artists.   Artist can convert the contributions back into cash, with a daily maximum cash of $500.

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