SEGA Group Invest In AI Powered Music Discovery Platform Flutin
With already over 9 million downloads, Flutin — a music discovery platform focused on independent artists — has recently received investment from the video game giant SEGA.
With already over 9 million downloads, Flutin — a music discovery platform focused on independent artists — has recently received investment from the video game giant SEGA.
Flutin recently announced an investment partnership with SEGA Group as part of its expansion into gaming and digital entertainment.
The investment will enable Flutin to further strengthen its user base in key markets like the US.
Based in India but growing across the globe, Flutin offers listeners recommendations that purposefully surface emerging artists they’ll love, based on their activities, locations, and musical loves.
Using AI, Flutin tracks music listening behaviour of the users and recommends the most relevant tracks from emerging and independent artists, thus helping them discover new music and providing better and more relevant exposure to the artists.
“Investing in Flutin is part of SEGA’s effort to advance into the music industry. They believe in us because of the approach we are taking in supporting emerging musicians and providing them substantial tools to grow their fanbase,” said Vishu Gupta, Flutin founder and CEO.
“63% of total music revenue in Japan comes from independent music, and SEGA understands that this will be reflected globally in a few years…They believe that platforms like Flutin that support emerging artists and help surface new talent in the industry are going to play a vital role in the next wave of change in the music industry.”
Flutin raised funding from GHV Accelerator and some HNI Angels and corporate investors. The company aims to be the Facebook for Music in the near future as a unique product, solutions and support. Today, it has over 300K DAUs and streaming 3 million songs daily.
“SEGA has often taken a broad view of entertainment, within and outside the gaming space, and looked for meaningful partners and investment opportunities,” commented Toshihisa Kiyomiya, investment director of SEGA.
“In markets like India and in areas like streaming music and music-based mobile apps, we see a great potential for growth and innovation, which is why we’re excited to support Flutin as it continues to create value for musicians and music lovers worldwide.”
In Dec 2019, Sega Sammy Holdings announced the consolidation of two subsidiaries Sega Games and Sega Interactive as part of its preparation for 5G and cloud technology, merging R&D resources and create internal collaborations between the Japan side that develops global titles, marketing efforts abroad and second uses of its existing IP. Music Press Asia
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