Nimbit Sold To PreSonus
Direct-to-fan music platform Nimbit has been sold to audio hardware and software manufacturer PreSonus. The private acquisition was completed in April for an undisclosed sum, but is just being made public today. One of the first tech players to tackle direct-to-fan sales for musicians, Nimbit has struggled to stay relevant against competing D2F platforms including ReverbNation, Topspin and Bandcamp.
What's Next For D2F & Nimbit/PreSonos Details:
Direct-to-fan platform users should expect more acquisitions and consolidation in the sector in the coming months. Many of the major players in direct to fan and DIY are rumored to either be looking for a buyer or on the hunt for more cash. Their efforts have been hampered, sources tell Hypebot, by investor disappointment over revenue growth and somewhat sluggish overall music sales.
Nimbit + PreSonos
The PerSonus product line ranges from digital mixers and music production software to accessories; and the Nimbit acquisition will offer musicians an end-to-end solution from creation to promotion to sales. PreSonus Studio One 2 audio-production software has been already updated, and as of August 1st will to add direct delivery to the Nimbit platform.
Nimbit will continue its operations in Massachusetts as a wholly owned subsidiary of PreSonus. Nimbit founders Patrick Faucher and Philip Antoniades, along with CEO Bob Cramer, will continue running day-to-day operations; and Nimbit’s development, support, retail and marketing teams will remain with the subsidiary.
“This acquisition was the best move to drive our companies to the next stage of growth,” according to Cramer.
NimbitPlus Launches, Promo Tool Upgrade, Jango Integration
Along with the sale, the company has announced NimbitPlus, a $9.95 premium subscription which offers extended sales, customization, and promotion, as well as, a major update to the Nimbit Promotion Tool.
The Nimbit Promo Tool has been expanded to to include Twitter, email, and short text promo codes in addition to the Facebook tools launched earlier this year. Users can now also sell music on Jango Internet Radio. The upgraded Promo Tool is available in both NimbitFree and NimbitPlus. NimbitFree customers are limited to only one active promotion at a time.