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Streaming music service Turntable.fm just announced a new platform — Turntable Live — that livestreams concerts to its listeners.
The move comes after Turntable’s team announced that it was overhauling the service to cut costs. It shut down the Piki.fm mobile curation app last month, and Turntable also shifted from permitting its users to upload tracks to the site to using streaming music directly from Soundcloud– thus enabling the company to eliminate some music licensing and cloud storage expenses. Previously, Turntable itself was/is a music platform in which you uploaded your own tracks that you could play in virtual rooms where you and others would take turns playing DJ.
The new live concert streaming platform is an entirely different business model for Turntable. First of all, you’ll be paying for tickets to watch each live concert. That eliminates bulky music licensing fees, with Turntable generating revenue directly from music fans rather than selling advertising or collecting digital music store referral fees.
It’s hard to say that this a pivot for Turntable because the original virtual DJ rooms aren’t going away for now. Should Turntable Live become a lucrative part of the service, that could change.
So what’s different about watching a concert on Turntable Live? Well, first of all, the site seems to be taking a Kickstarter-esque approach to each show. Bands can set a minimum number of tickets they’d like to sell to achieve a funding goal, and for now tickets are just $3. Once inside a virtual concert, ticket holders will have a chance to interact with the band much in the same way that users interact with DJs on Turntable.fm. That means cheers and jeers will be displayed within the room and you’ll have the ability to upload and share pictures with the band. I’m guessing you’ll also be able to make comments about the song that’s currently playing, too.
Turntable Live is scheduled to kick off at 4 p.m. Pacific today, with a live show from music group Beat Radio. Turntable Live is also streaming a handful of other shows from the CBGB Fest in New York City that runs through Friday.
Via The Verge
Turntable.fm is a social media website that allows users to interactively share music. The website is run by Billy Chasen, who started it in January 2011, using revenue generated by his previous start-up to fund Turntable.fm. The servi... read more »
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