As if his involvement with Napster and Spotify wasn’t enough to shake up the music industry, Sean Parker has now also invested in music startup StageIt, according to a BusinessInsider report.
StageIt is basically an online platform for live concerts. The company aims to help music artists monetize their live shows by focusing on a truly live experience — meaning the concerts aren’t recorded and/or archived for later viewing. Founder Evan Lowenstein launched the company with the idea that people will pay for a unique experience.
The amount of Parker’s investment is currently unknown. Neither Parker nor StageIt has confirmed the news, but it does make sense.
While this is his first attempt to shake up the live music space, Parker has a long history of disrupting the music industry’s business model. In the ’90s he co-created the peer-to-peer file sharing network Napster. More recently, he’s been a prominent investor in streaming music startup Spotify.