Sponsored: GigsWiz Is Empowering Bands And Their Fans In Concert Ticket Promotion
This post is sponsored by the Finnish Software Entrepreneurs Association as part of their competition on ArcticStartup. Feel free to participate in the competition for your chance to win a free promotional article.
Live music seems to be one of the few remaining viable business models available for bands. Paul Resnikoff recently provided a quick list of top 13 lessons learned in digital music. Not only is the recorded music industry slowly but surely diminishing, it has never been a very lucrative business for most bands. There are simply too many middle-men. In the recorded music industry the average artists is estimated to earn only $23,40 for every $1000 worth of music sold.
Ex-Floobs Team Goes After Music Business With GigsWiz
The dust has barely settled since we reported about Floob's ending up in the deadpool on Jan 21st. Now the founding team, Kai Lemmetty and Joonas Pekkanen, is at it again and this times its music gigs they are after.
The new startup is called GigsWiz and is founded by Lemmetty, Pekkanen and Juuso Vermasheinä who has a background in game retail business.
Lemmetty was responsible for product development and business development in the music industry at Floobs Ltd and had previously seen some of the problems in the industry and together with Pekkanen they had some ideas how to help the music industry build a better business. Vermasheinä had started the company already in the summer of 2009 but after meeting with Lemmetty and Pekkanen the three decided to start working together on a slightly different business plan. In addition to the core management team GigsWiz is building an advisory board including music industry specialists, crowdsourcing and 'intention broadcasting experts', which should hint on the area the company focuses on.
