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Categories
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Media
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Min Investment
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$250
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Offering Date
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February 26, 2021
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Expected Close Date
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April 30, 2022
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Target Raise
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$200.00K-$1.07M
Key Deal Facts
Founder invests over $1.1 million to reinvent the concert streaming business
Membership expands by adding show catalog from world's largest music company, Universal Music Group
New trademarked myWay technology lets fans choose their view during live streaming concerts
mySongbird OTT app coming to Roku, Apple +, next to Netflix, Disney+ and Hulu channels
Investment in pre-IPO shares at 11¢/share gets you in on ground floor of new streaming music channel
Proven VC interest grows in this category, allowing for lucrative pivot opportunities
Growing concert library features performances by U2, Fleetwood Mac, and Katy Perry
Apps and digital publishers are more attractive: Square acquires Tidal for $297MM, March 2021
Use of Proceeds
$200,000
- 25% towards crowdfunding advertising, consulting, legal, accounting and intermediary fees
- 65% towards installment payment on loan for the purchase of music license fees for "legacy" concerts and expansion of content library
- 2.5% for membership advertising
- 7.5% towards Wefunder intermediary fee
$500,000
- 30% towards installment payment on loan for the purchase of music license fee for "legacy" concerts
- 25% to be used to pay for crowdfunding reinvestment marketing, public relations, consulting and legal expenses, including intermediary fees
- 20% to be used to pay musical artists, venues, production costs, and other streaming costs for concerts to be streamed on site
- 12.5% to be used to acquire new concerts from industry leading music labels to be streamed on site
- 5% to be used to pay for advertising intended to increase memberships to site
- 7.5% towards Wefunder intermediary fee
$1,070,000
- 30% to be used to pay musical artists, venues, production costs, and other streaming costs for concerts to be streamed on site
- 25% to be used to pay for crowdfunding reinvestment marketing, public relations, consulting and legal expenses, including intermediary fees
- 15% towards installment payment on loan for the purchase of music license fee for "legacy" concerts
- 10% to be used to pay for advertising intended to increase memberships to site
- 10% to be used to purchase various music titles to be streamed on site
- 2.5% to be used to acquire new concerts from industry leading music labels to be streamed on site
- 7.5% towards Wefunder intermediary fee
Management Team / Advisory Board Bios
Michael Mountford
Founder/CEO
Mike Mountford is a proven executive and entrepreneur with nearly 40 years of experience operating, growing, and acquiring subscription-based television businesses in the United States.
Stephen Prendergast Executive Vice President
Stephen is an entrepreneurial leader who brings expertise in not only music but also media, sports, and digital content. Stephen has worked with Live Nation/Ticketmaster, Ninja Metrics, officialCOMMUNITY, and BMG/Sony/Arista Records.
Meghan Thornton
Vice President and General Manager
Meghan brings her prior experience on both the creative and technical sides of the entertainment industry to help give mySongbird its voice. A WGA Award-nominated writer, she finds peace in nature and wants to return the favour.
Thornton E Mountford
Director of Operations
Thornton is an avid music fan who also happens to be very passionate about operations. As a proven manager and leader he has shown his strong belief in realizing the potential and the value of his team members. His favorite band of all time is Oasis.
Bob Angone
Executive Creative Director
The creative brains of mySongbird, Bob is a lifelong gear junkie who loves music and exploring the great outdoors. Bob’s musical tastes vary from classical to alternative/punk, and both he and his wife are avid fans of live music.
Omar Lopez Lead Design Artist & Producer
A musician himself, Omar is passionate about mySongbird’s mission to help bands. He uses his creative talents to design and create artwork for the website and promotional materials.
Neil Sheehan Director of Business Development
Neil Sheehan has been working in the music industry since 2001 and brings his experiences in the industry and as the owner of a leading independent record label to mySongbird.