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Archive for September 1st, 2011

Article from SFGate.

“RootMusic, a San Francisco startup that helps artists such as Rihanna, Katy Perry and Arcade Fire connect with their Facebook fans, received additional venture funding Wednesday amid reports that the social-networking giant is close to offering its own music service.

RootMusic, which says it has about 32 million monthly active users for its BandPage platform on Facebook, announced a $16 million round of financing led by GCV Capital.

The platform adds a page for fans to hear and share songs, watch video and view concert dates. The company was started in March 2010, but already more than 250,000 bands around the world use BandPage, and usage has increased tenfold since January, said RootMusic CEO J Sider.

There have been various reports that Facebook is ready to release its own music service. On Tuesday, CNBC, Mashable and other outlets reported that Facebook plans to announce a music platform at its f8 developer conference in San Francisco on Sept. 22, with Spotify, MOG and Rdio as partners.

Facebook spokesman Larry Yu would not comment directly on those reports or what’s coming for f8, but said in a statement that “many of the most popular music services around the world are integrated with Facebook and we’re constantly talking to our partners about ways to improve these integrations.”

Sider said he views a potential Facebook music platform as complementary to BandPage.

“If something like this would happen, it would raise awareness that as a fan, (Facebook’s) where I should go first to find information.”

The Facebook music drumbeat might prove to be sour notes for former social-networking rival Myspace, which has been trying to reposition itself as a destination for music. Indeed, RootMusic’s slogan entices musicians to “Make the Move to BandPage on Facebook.”

Read more here.

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