Classical Music Streamer IDAGiO Raises $11.7M, Launches in North America
Classical music focused streaming service IDAGIO is now available in North America. The Berlin based startup also announced that it has secured a funding round of 10 million EU ($11.7M USD) from existing investors. Classical music accounts for as much as 40% of global recorded music revenue.*
IDAGIO has subscribers in more than 130 countries and added 250,000 users in 2018. The app has been downloaded 500,000 times. It has yet to launch in China and Japan.
Searching complex and overlapping classical music catalogs can be a problem on traditional streamers. IDAGIO says they've solved that problem with better data, curation and proprietary technology. Users can compare more than 290 versions of Beethoven’s Seventh Symphony, for example.
IDAGIO has deal with all the major labels and more than a thousand independent labels for more than a million classical tracks. The catalog is adding 20,000 new tracks each week, according to the company, and includes curated playlists and exclusive content.
IDAGIO will cost $9.99 per month in the US.
The internal funding round brings the total raised by the service to over EUR 20 million since its foundation in 2015. IDAGIO’s founder Till Janczukowicz explains:
“The confidence of our investors indicates that we are on the right path. Making classical music really work in the digital space needs profound ground work. Results don’t come overnight. Besides expertise in content and technology, you need patience, a great diversified team and the respective funds. The current investment allows us to launch in North America. and to further establish our position as a leader in the classical music tech sector. We are honored by the trust of our customers, musicians, labels and investors and we are looking forward to offering classical music lovers in North America the IDAGIO experience.”