Just weeks after Lisbon’s bid to draw attention to its start-ups at the Web Summit, Tradiio is just one of the many Portuguese companies seeking crowdfunding investment on Seedrs.
Tradiio aims to tackle the problem of emerging artists failure to generate an acceptable level of revenue, a subject discussed in one of the Web Summit events with rap artists Tinie Tempah and Ne-Yo. 77 percent of music industry revenue is generated by 1 percent of the artists, meaning online streaming can often endanger the pursuit of music as a career.
On its page, Tradiio puts this into context with Isaura’s story. As an emerging artist she got more than 200,000 plays on Spotify and 450,000 views on Youtube last year, but she has still yet to make any significant money from these platforms.
Like Isaura, there are millions of artists who are in the same situation – Tradiio’s aim is to change this. The company has created “an innovative and revolutionary brand that [we] aim to become the go-to platform for music creators that want to monetise their work digitally.”
“We want to create a middle class of artists that are able to make a living from their art”, they added.
In March 2015 Tradiio launched internationally from their UK offices, and have recently begun a crowdfunding campaign with a 600,000 euro target. Álvaro Gomez, Tradiio’s CEO, commented:
“There is no better way to show the power of crowdfunding than raising our next round through this incredible model.”
So far, Tradiio has raised 259,990 euros, and is 43 percent of the way to its target. The investment will be used to continue activation in the UK market and support a launch in the US; if all goes to plan, the company’s intention is to seek a new funding round in the end of the next year to scale globally in 2018.
For more information on how to get involved, visit Tradiio’s page on Seedrs here.